Shibarium Developers Launch Bone ShibaSwap (BONE) Proposal

Developers confirmed Bone ShibaSwap (BONE) to be the only gas fee token. Unification is working on a Liquid Staking Derivative (LSD) token on ETH. Shiba Inu (SHIB) burn rate dropped by 92% following the news. Shiba Inu’s BONE constantly makes the headlines as the second native token in the popular canine memecoin’s own ecosystem. Mainly, Shiba Inu (SHIB) holders are expecting the demand to drastically increase after launch, as both SHIB Token’s official team and the Unification developers previously announced that $BONE is the only governance token used in the Layer-2. In the wake of the launch of Shibarium Beta, the Unification team introduced themselves to the public and published the very first BONE proposal. The liquid stake derivatives, if approved, would bring staked $FUND to Ethereum (ETH) and could be traded on Curve Protocol.  In regards to Bone ShibaSwap (BONE), developer Ringoshi Toitsu took to Twitter to explain that $BONE could be staked on Shibarium, while receiving a wrapped version of it back, which is called T-BONE. Ultimately, this means that T-BONE could be paired with $BONE to earn a higher APR, while also helping to maintain Shibarium’s liquidity. https://twitter.com/RingoshiToitsu/status/1626265255159517184 SHIB Burn Rate Cools Down Following the news, the lead developer Shytoshi Kusama also posted an 8-minute long read that’s meant to introduce the world to Shibarium. Indeed, the Shiba Inu (SHIB) developer team have been working together with Unification (xFUND) for two years, but the vast community of SHIB Army don’t always find the right motivation to burn Shiba Inu (SHIB) tokens in order to maintain its price. As many members expected to see the launch of Shibarium Beta on Valentine’s Day, the disappointment is evident in the numbers - Shiba Inu (SHIB) fans sent just 2,358,975 SHIB tokens ablaze in the last 24 hours, which equals just $30.69. Having in mind the rapid growth of the community and the emergence of side projects dedicated to burning, these metrics suggest unwillingness from SHIB holders. https://twitter.com/shibburn/status/1626446360021958656 On The Flipside: Bone ShibaSwap (BONE) is still marginally down from its all-time high of $15.50 set over a year ago and is not listed by any major exchange. The developers had been vague about the roadmap of the project, while all the previously speculated launch dates didn’t materialize. Why you should care: Shiba Inu has among the fastest-growing crypto communities, with at least 30,000 new members joining Shibarium’s telegram per week.
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