Shiba Inu announced the release of LEASH V2 aimed at solving longstanding supply issues of the token. This step includes a fully audited smart contract and improvements in the migration process.
LEASH V2 Update
Shiba Inu developer Kaal Dhairya unveiled an upgrade for the LEASH token, consisting of a new, fully audited contract to restore trust in the token. Currently, SHIB has a market capitalization of around $36 billion.
Changes in the New Version
LEASH was initially designed with a maximum supply of 107,000 tokens, but due to a rebase bug, the supply increased by 10%. The new version resolves this issue, enforcing a hard cap of 107,000 tokens, thereby restoring the promise of scarcity. The contract is built using OpenZeppelin libraries and includes ERC-20, ERC-20Permit, and ERC-20Burnable, adding flexibility and protecting against hidden inflation.
Migration Process
The migration to LEASH V2 will occur in phases, starting with regular holders, stakers, and liquidity providers on Uniswap V2 and ShibaSwap V1. Over time, the process will extend to Uniswap V3 and ShibaSwap V2. Snapshots and proof-of-withdrawal will be used to ensure accuracy. The conversion will follow a simple formula: V2 = V1 × (Intended Supply ÷ Current V1 Supply). Importantly, the entire migration will be guided by DAO-led decisions, ensuring a transparent process.
With the LEASH V2 upgrade, Shiba Inu aims to strengthen user trust and eliminate problems associated with the token's supply. However, the team must also tackle scam attempts related to the migration.
