Crucial ‘SHIB Owes You’ Function Stressed by SHIB Executive

The official head of marketing at the Shiba Inu developer team, widely known to the community as Lucie, has taken to her X account to address the SHIB army with an encouraging message related to the recent Shibarium hack.

She reminded the community what the recent “SOU” (SHIB Owes You) initiative is about and why it remains crucial for users. She also stated that despite the devastating security breach, the SHIB army “moves forward.”

Key functions of SOU explained in detail

Lucie shared an AI-generated six-second video, featuring a SHIB character typing away at his computer, as well the major Shibarium coins: SHIB, LEASH, BONE and TREAT, as well as the WoofSwap dex. The main thing in this video, however, was the SOU token.

SOU stands for “SHIB Owes You.” It is a system that was created with the goal of compensating the financial losses of users affected by the recent exploit of the Plasma Bridge running on the Shibarium network.

In today’s tweet, Lucie once again revealed the details of how SOU is going to work. It is about accountability, she tweeted. SOU offers “on-chain proof, real claims, real recovery.”

“Builders rebuild,” she tweeted and overall: “SHIB army moves forward.”

The SOU framework has two layers. The first one is “SOU NFTs on Ethereum,” coming from the SHIB team itself, and it is an accounting layer, which registers the losses of users. The second layer is a “community recovery layer” (“SOU on BSC”). It will help raise funds to compensate the users affected by the exploit.

SHIB burns skyrocket 911%

There is more positive SHIB news. According to on-chain data tracker Shibburn, over the last day, the Shiba Inu community managed to propel the daily SHIB burn rate up by 910.98%. This high result was achieved after the community removed a total of 4,369,584 SHIB coins from the circulating supply, i.e., burned them.

There have been four burn transactions in the past 24 hours so far, with the largest ones carrying 2,717,708 and 1,000,000 SHIB to unspendable blockchain addresses. Before that, over the past three days, the burn rate remained deep in the red zone, with zero burns conducted during that period.

The last update to Shibburn’s X account is dated Jan. 9, showing that only 19,000 SHIB were destroyed back then, with the burn rate plunging -98.56%.