The Shiba Inu development team has officially rolled out LEASH v2, a new version of the ecosystem’s exclusive token designed to correct a long-standing supply controversy. Over the past week, LEASH holders expressed growing concerns after a hidden rebase path in the original contract unexpectedly increased supply, resulting in a 20%+ dilution from the 107,646 baseline. This prompted swift action from the current Shiba Inu developers, and LEASH v2 is both a corrective measure and an opportunity to restore community confidence.
LEASH v2 Brings A Hard-Capped Supply
According to Shiba Inu marketing lead Lucie, the most important change in LEASH v2 is the permanent fix to supply manipulation risks. Posting on the social media platform X, she explained that after migration, LEASH v2 will have a fixed, hard-capped supply of 107,000, exactly as originally designed. No new rebasing, no hidden minting functions. This is a clean slate contract. This means token holders no longer need to worry about accidental inflations or hidden vulnerabilities undermining the scarcity and value of LEASH.
The issue stemmed from a rebase function left in the original contract by a departed developer five years ago, which went unnoticed until the recent glitch. The team documented those mechanics and presented the community with a DAO-led route forward of migrating to a fixed-supply, audited LEASH v2 using the last trusted snapshot.
That plan also outlines the burn-to-claim model, where holders destroy the old token to claim the new one. After moving to a fully immutable and audited contract, the team has effectively sealed off this risk, turning LEASH v2 into a more trustworthy representation of what the token was always intended to be.
According to the Shiba Inu blog website, the v2 total supply is pre‑minted at deployment and held by a multisig. The migrator will not mint new LEASH v2 tokens but will move pre‑minted tokens out of the multisig as users migrate from LEASH v1.
What Does This Mean For Holders?
LEASH v2 affects only LEASH. Other tokens (SHIB and BONE) within the Shiba Inu ecosystem remain untouched. If the migration proceeds smoothly, with audits concluded, exchanges aligned, and burn-to-claim portals functioning, LEASH v2 will become a straightforward case of resetting the clock.
Related Reading: Bybit Exchange Unveils Massive Shiba Inu Balances In The Trillions As Price Tanks
A prominent Shibarium insights account on X pointed out that the team is working with an external auditor. The Shiba Inu team is also in talks with crypto exchanges to support the swap and will stage a public testnet and bug bounty before full release. The rollout has been largely welcomed across the Shiba Inu community, with supportive reactions surfacing on multiple social platforms.
At the time of writing, LEASH is trading at $52.40, down by 8% in the past 24 hours.
Featured image from Getty Images, chart from Tradingview.com
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