In a year-end letter, Shiba Inu developer Kaal Dhairya spoke a couple of restoration plan for Shibarium customers following the hack incident in September.
Dhairya talked about “SOU,” which suggests “Shib Owes You,” a system that intends to make affected Shibarium customers entire.
On this system, each affected person has an SOU NFT, which is an on-chain, verifiable file of precisely what the Shiba Inu ecosystem owes them. The SOU is just not a promise in a database someplace however a cryptographic proof that Shibarium customers personal a declare, recorded completely on the Ethereum blockchain.
The SOU tracks a principal quantity, which is the worth nonetheless owed to Shibarium customers. When payouts occur, the principal goes down, in addition to when donations are available in from the group. Customers may even have the ability to confirm their authentic declare, what has been obtained and what’s left. The SOUs can be merged, cut up or transferred.
Shiba Inu staff member sheds mild on SOUs
In a tweet, Shiba Inu staff member Lucie shares a private clarification about SOUs. Based on Lucie, the “Shib Owes You” has two layers, an official one and one other, which is community-powered.
The official layer marks the SOU NFTs on Ethereum, which is the Shiba Inu staff system. These NFTs symbolize what folks misplaced within the Plasma Bridge exploit. As well as, they’re on-chain, auditable and dynamic, defining precisely who’s owed what. The SOU NFTs on Ethereum, in accordance with Lucie, symbolize the accounting layers however don’t elevate cash as they observe the debt.
The second, which is the group restoration layer, up to now has one undertaking (Woofswap) dedicated to it. This represents SOU on the BSC chains. Lucie clarifies that this isn’t a alternative for the NFTs however moderately a liquidity and charge era mechanism. Its position, in accordance with Lucie, is to create quantity and generate charges as a part of exercise geared towards restoration and ecosystem help.
Lucie explains additional that the SOU on BSC represents the Shiba Inu group help for restoration. It’s not an IOU, nor a declare nor an official SHIB product. Somewhat, it’s a funding rail that may direct buying and selling exercise towards donations and rebuilding.
Whereas SOU NFTs on Ethereum are the reality layer, on the BSC chain, it’s the liquidity engine; one represents what’s owed, whereas the opposite helps generate funds.