Automatic Deflation vs Team Intervention: SHIB's 'Decentralized Revolution' on the Base Chain Faces Triple Strangulation
Schismatic Shiba challenges SHIB's centralized model with 'automatic deflation contracts + governance decentralization', but faces both technical vulnerabilities and market indifference. The automatic deflation mechanism enforces token burns through transaction taxes, yet it risks liquidity depletion (referencing the Safemoon V2 collapse due to its deflation model), and the non-open sourced audited contracts have hidden backdoor risks. In terms of governance, community voting is stuck in a cold start deadlock due to insufficient token circulation (only 2.3%), while threats from governance attacks by large holders remain unresolved (e.g., the manipulation of Thala Labs serves as a warning). The trust deficit in the Base chain further hinders its development—37% of Meme projects have a runaway rate, leading users to doubt the 'no team reserve' narrative, while non-standard lock-up contracts deepen security concerns.
For the project to break through, it must overcome three obstacles: on the technical side, it requires top-notch audits + time-locked multi-signatures (like the Uniswap model), the economic model should reform liquidity incentives (similar to Brett's refunding transaction taxes to LPs), and the governance mechanism should introduce holding duration weights (similar to Curve). Historical data indicates that if all conditions are met, the project's survival rate could rise to 78%; otherwise, it will fall into the Base chain Meme graveyard. The current core contradiction is: the ideal of decentralization must compromise for gradual implementation—deflation needs to be tied to practical scenarios (like BNB's burn logic), and governance relinquishment requires code checks and balances (referencing MakerDAO's emergency shutdown). While Schismatic Shiba's innovative courage is worth noting, it lacks sustainable economic design; if there are no substantial upgrades in the next three months, it will ultimately become yet another bubble of 'decentralized fantasy'. $SHIB