Shib Original Vision (SOV) is a cryptocurrency initiative associated with the Shiba Inu 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]
Launched on March 28, 2023, Shib Original Vision was introduced by Karma DAO with the aim of restoring the Shiba Inu 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 Shiba Inu token ($SHIB) from its intended purpose and its transformation into a speculative asset. The narrative introduces key figures such as "Ryoshi" and "The Dogfather," symbolizing the leadership and contributions associated with the Shiba Inu project. [1]
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 Poloniex 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 Bond Protocol, 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 Shiba Inu community a discounted entry into the Shib Original Vision ecosystem. [5][10]
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 airdrop that went live on March 28, 2023, offering equitable token allocations to active Shiba Inu token holders who have participated on-chain. The total count came up to 277,000 SHIB wallets making SOV's airdrop one of cryptocurrency'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]
The $SOV token demonstrates the following distribution across various segments: [2]