How $SHI tokens benefit hodlers
Through this post we will explain some of the related $SHI policies such as Burning Pool, Buybacks, Staking and Farming.
Burning Pool & Buybacks
As described in our Whitepaper, the total supply will be 1,000,000,000 $ SHI tokens, of which 10% (100,000,000) were allocated for the Burning Pool. Also, during the first round of the presale, there was an unsold carryover of 62,000,000 tokens. Half of them have already been burned, while the other half went to the treasury reserve.
So far, 131,000,000 tokens have gone to the Burning Pool. This policy allows to reduce the total supply which increases the value for our token holders.
On the top of it, Shirtum will set aside 1% of the revenue generated by the NFT sales on the primary market. Every 7 days, we will make a purchase of $SHI at the current value on Pancake Swap. All the tokens obtained with this purchase will be burned automatically to reduce the supply.
To do this, Shirtum will deposit BUSD in its own smart contract, which is the one that will make purchases from SHI. Before each buyback period, the USDT obtained in euros will be deposited into the app.
A smart contract (Buyback Contract) will be developed by our team exclusively to automatically execute this function. Any wallet will be able to execute this function as long as more than 7 days have passed since the last execution, which makes the contract more reliable.
Staking & Farming
Shirtum team is evaluating different alternatives for both Staking and Farming that will be announced very soon on all our channels.