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Shib Original Vision

Shib Original Vision (SOV) is a initiative associated with the token. The project introduces a narrative-style description, referred to as the "Shib Original Vision," which articulates its core principles and goals. This vision is presented as a storyline that highlights the project's mission to address perceived imbalances in the cryptocurrency space and to create a community-driven and equitable financial ecosystem.[1]

Overview

Launched on March 28, 2023, Shib Original Vision was introduced by Karma DAO with the aim of restoring the community's original values through a decentralized governance. At the core of this effort is the "Inu Economic Forum," a 50+ member group entrusted with making key decisions for SOV. [4][5][6]

The storyline behind the Shib Original Vision emphasizes the project's inception as an endeavor to establish a coin that focuses on inclusivity, decentralization, and empowerment of individuals regardless of their financial background. The central theme revolves around the divergence of the token ($SHIB) from its intended purpose and its transformation into a speculative asset. The narrative introduces key figures such as "" and "The Dogfather," symbolizing the leadership and contributions associated with the Shiba Inu project. [1]

History

On April 18, 2023, MetaTrust completed token smart contract audit for $SOV, ensuring security and reliability. [7]

On April 20, 2023, they implemented a burn bot that has been actively burning $SOV tokens 6 different times everyday, making their $SOV token deflationary. [8]

On April 27, 2023, $SOV was listed on Exchange as $SHIBSOV as their symbol on the exchange. [9]

On May 9, 2023, capitalizing on Shib's momentum ahead of the Shibarium launch, $SOV introduced a bonding feature through , allowing users to trade $SHIB for discounted $SOV (approximately -40% off spot price). The $SHIB received is then used to buy back $SOV, creating a cycle that benefits both discounted SOV holders and the token's overall value. $SOV holdings are vested for six months, encouraging long-term commitment from users. Bonding also expands the number of $SOV holders, a key on-chain metric, and offers the community a discounted entry into the Shib Original Vision ecosystem. [5][10]

$SOV

The $SOV is SOV's utility token, serving as a solution to perceived issues within the Shiba Inu ecosystem, aiming to combat corruption through transparent and fair token distribution. $SOV aimed to rectify these concerns through an that went live on March 28, 2023, offering equitable token allocations to active token holders who have participated on-chain. The total count came up to 277,000 SHIB wallets making SOV's airdrop one of 's most extensive airdrops. For SHIB holders on centralized exchanges (CEXs), a portion of the token allocation is dedicated to airdrops and exchange listing negotiations, overseen by the Inu Economic Forum, consisting of Karma DAO OGs involved in Shiba Inu's early development. [2][3]

$SOV Token Metrics

The $SOV token demonstrates the following distribution across various segments: [2]

  • Total Supply: 200,706,133,340,071 $SOV

  • Burned Tokens: 799,293,866,659,929 $SOV (TX1 and TX2)

  • $SHIB Community Airdrop: Constituting 0.35% of the total supply, $SOV is airdropped to the Shiba Inu ($SHIB) community. This airdrop is extended to $SHIB holders who possess at least 1 $SHIB and have exhibited on-chain activity within the preceding 6 months, commencing from Block 16860452. The airdrop claim window remained open for a 7-day period before being burned.

  • The Dogfather: Accounting for 2.49% of the total supply, this airdrop is allocated to The Dogfather, the undisclosed co-creator of $SHIB ideas. The Dogfather's contributions were essential to the early development of the token but were disrupted by Ryoshi.

  • Karma DAO Airdrop: Comprising 27.40% of the total supply, this airdrop is designated for Karma DAO members. Additional rewards are allocated to Karma DAO contributors who played instrumental roles in initiating $SOV liquidity pools.

  • Liquidity Pools for DEXes: Encompassing 32.39% of the total supply, these tokens are set aside for liquidity provisions within bridges and potential future .

  • CEX Listings and CEX Airdrops: Representing 37.37% of the total supply, these tokens are earmarked for centralized exchange (CEX) listings, associated listing fees, and CEX-specific airdrops. Oversight of this allocation is entrusted to leaders within the Karma DAO, collectively known as the Inu Economic Forum.

  • BitBoy: A solitary coin is allocated to BitBoy, serving to preserve his journalistic integrity.

  • Multi-Sig Wallet Control: Tokens allocated for Liquidity Pools, CEX listings, and airdrops are managed through a multi-signature wallet administered by influential figures within the Karma DAO community, collectively referred to as the Inu Economic Forum.

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Shib Original Vision

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Edited On

January 10, 2024

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