Crypto Payment Gateway launches Shiba Inu and LEASH burn feature for merchants

NOWPayments has added a burn feature for Shiba Inu (SHIB) and Doge Killer (LEASH), potentially increasing the scarcity of these coins.

Burn SHIB & LEASH burning with NOWPayments new feature for merchants.
Burn SHIB & LEASH | Image: NOWPayments

NOWPayments, a non-custodial cryptocurrency payment processor, has launched a new service that allows merchants to burn a portion of their income in Shiba Inu (SHIB) or Doge Killer (LEASH).

The percentage markup for burning tokens is simply chosen by merchants. NOWPayments determines the exact amount of SHIB or LEASH that must be delivered to a dead wallet automatically.

A widget for accepting donations in the above-mentioned tokens can also be included.

While the Shiba Inu pricing has slowed, it continues to gain popularity among businesses.

AMC Theatres, the world's largest movie theater chain, is the newest business to support the second-largest meme coin.

The Amsterdam-based startup first teased the functionality in late December, according to reports.

Note that the technique of permanently removing a particular number of tokens from circulation is known as burning.

Some cryptocurrency projects destroy tokens in order to make the remaining ones more valuable, similar to how firms buy back their stocks. Shiba Inu supporters seek to make the token more scarce by making it more scarce.