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- Shiba Inu is launching LEASH V2, a long-awaited upgrade that finally puts an end to the supply issues that have plagued the token.
- The new version comes with an audited smart contract, a fixed supply, and a structured migration process designed to rebuild trust.
The network’s top developer, Kaal Dhairya, unveiled an upgrade for its LEASH token, introducing LEASH V2. This is a redesigned, fully audited contract intended to restore trust and eliminate recurring supply issues.
Shiba Inu (SHIB) is the second-largest mem coin, just after Dogecoin (DOGE), that has a market capitalization of about $36 billion. SHIB has made it its mission to set itself apart from the definition of a meme coin; digital currencies inspired by literal memes or other cultural phenomena that don’t have any serious financial or technological purpose.
What’s Changing with LEASH V2?
LEASH was designed with a max cap of 107,000 tokens. But due to a rebase bug, the supply unexpectedly jumped by around 10%. That meant extra tokens appeared out of thin air, undermining trust in the token’s scarcity. Now, the bug is gone. The new contract enforces a hard cap of 107,000 tokens, and no new tokens can ever be minted. The promise of scarcity is back, just as it was intended from day one.
The contract is rebuilt from scratch using OpenZeppelin libraries, which are widely trusted and battle-tested across Ethereum (ETH). It now includes ERC-20, which is the standard for tokens. It also has ERC-20Permit, which allows gasless approvals where users can sign instead of spending ETH for approvals, and the ERC-20Burnable, which means tokens can now be destroyed in a verifiable way, adding flexibility.
All tokens are pre-minted and locked in a multisig wallet; thus, there will be no chance of hidden inflation creeping in. According to the announcement, the migration to LEASH V2 won’t happen all at once; it’s being rolled out in phases to make sure no group of users gets left behind. In the first stage, regular holders, stakers, and liquidity providers on Uniswap V2 and ShibaSwap V1 will be migrated.
Next, the process will extend to liquidity providers on Uniswap V3 and ShibaSwap V2, using snapshots or proof-of-withdrawal to ensure accuracy. In the final phase, the migration will reach Shibarium and bridge users through a special layer-aware process.
The conversion formula is simple and transparent: V2 = V1 × (Intended Supply ÷ Current V1 Supply). The loyal long-term holders who stayed put will get their full share, while those who sold along the way receive proportionally less.
The Hexens blockchain security team has already audited both the LEASH V2 contract and the migrator, with the full audit report and official migration portal to be released soon. Perhaps most importantly, the entire migration is being guided by DAO-led decisions, ensuring the process is transparent, community-driven, and built on trust.
The team has been vocal about scam attempts popping up around the migration. They’ve stressed there are no presales, no private airdrops, and no offers outside of the official Shiba Inu channels. Anything else should be treated as a scam attempt designed to drain wallets.
The upgrade gives SHIB a potential boost, but it may take one clear market catalyst to lift prices closer to $0.001. For now, SHIB is priced at $0.00001294, marking a 4.64% gain in the past week, even as daily volumes dipped 4% to $253 million.
