Shiba Inu’s LEASH V2 Migration: A New Standard in Token Transparency

Shiba Inu’s development team has cleared the final procedural hurdles for the long-anticipated migration of its LEASH token to version 2. Kaal Dhairya, a top developer for the Shiba Inu project, confirmed in a recent blog post that the migration will proceed with a simplified, fully audited token contract and a structured approach that safeguards long-term holders and liquidity providers. The migration is designed to ensure that the token’s new version is secure, auditable, and compliant with standard ERC-20 features, including support for EIP-2612 (ERC20Permit) and ERC20Burnable.

Under the new migration model, holders of LEASH V1 will be able to exchange their tokens for LEASH V2 at a fixed ratio. However, those who previously sold their holdings will see a proportional reduction in their V2 allocation. To address complex scenarios—particularly for liquidity providers on ShibaSwap V2 and Uniswap V3—the team has implemented targeted snapshot mechanisms to ensure accurate representation of their positions. The migration will also ensure that liquidity providers are fairly credited, especially in cases where rebase mechanisms previously failed to distribute LP shares correctly.

The rollout of the migration is planned in three distinct phases. Phase 1 will focus on individual holders, stakers, and liquidity providers on Uniswap V2 and ShibaSwap V1. Phase 2 will target Uniswap V3 and ShibaSwap V2 liquidity providers, incorporating historical liquidity data and a proof-of-withdrawal system to prevent financial losses. The final phase will address cross-chain users, including participants on Shibarium, where a 1:1 swap will be implemented for native tokens. The migration process is designed to be transparent, with full audit reports and migration details expected to be published alongside the mainnet launch.

Security is a central focus of the migration. The LEASH V2 token and its migrator have both undergone a full audit by blockchain security firm Hexens, ensuring the contract’s integrity and robustness. Furthermore, the team has pre-minted the entire supply of LEASH V2 and secured it in a multisig wallet, with no possibility of future token creation. This design choice ensures that the total supply remains fixed and prevents any form of inflation post-migration.

The migration is expected to begin within days, with Phase 1 opening first. Holders are advised to remain patient and follow official communication channels for step-by-step guidance. Stakers and liquidity providers are required to unstake their tokens before the migration process can begin, while cross-chain users will need to wait for instructions during Phase 3. The team emphasized the importance of avoiding third-party sources and sticking to verified information during the transition.

The migration marks a significant development in the Shiba Inu ecosystem, reinforcing the project’s commitment to transparency and holder protection. As the project continues to expand its cross-chain capabilities, including plans for networks like Base and Solana, the LEASH V2 migration represents a foundational step toward long-term stability and growth.