Why is CoinGecko displaying the following message on Shibnobi’s page?
This is because of the True Bridge technology between our ETH and BSC token that allows for the supply on the BSC network to change dynamically.
When someone trades ETH Shinja across the bridge for BSC Shinja, their ETH Shinja tokens get locked into the bridge contract (CA: 0x4c03cf0301f2ef59cc2687b82f982a2a01c00ee2), and BSC Shinja tokens are minted on the BSC network and sent to them.
While the ETH Shinja tokens are locked in the bridge contract, they are considered taken out of circulation, which keeps the overall supply of Shinja between the ETH and BSC networks the same.
Going in the opposite direction, the rule of keeping the supply the same between networks still applies. If someone trades BSC Shinja across the bridge for ETH Shinja, those BSC tokens are burned, and the same amount of ETH tokens that are locked in the bridge contract will be unlocked and sent to them.
Because the BSC tokens were burned, and the ETH tokens that were unlocked from the bridge contract were put back into circulation, the overall supply before and after the transaction remained the same.
You may also be wondering why this banner isn't displayed for other projects that have “bridged” their token across networks. Well, that’s because nobody else has a True Bridge like Shibnobi’s. The overall supply of their token across multiple networks does not remain the same through automated burning / minting.
For those of you who are visual learners, our CTO, Tedi Ganja, has created a wonderful explanation on his YouTube channel, which can be found here: