Bone Crypto has quickly outshone other meme currencies in popularity, yet this does not guarantee its future growth. Meme coins are notoriously volatile and gains can quickly disappear as prices decline.
BONE is the governance token of ShibaSwap ecosystem and allows holders to vote on proposals that impact it. They also earn rewards by staking this token, with which it will later be used for gas fees on Shibarium – ShibaSwap’s forthcoming Layer 2 network.
1. ShibaSwap DEX
If you prefer trading cryptocurrency without the oversight of a central authority, DEXs provide an ideal alternative. They tend to be less costly as they don’t need costly servers at their center for operation.
One DEX developed by unidentified blockchain developers and released in July 2021 is ShibaSwap. Featuring 59 trading pairs and supporting SHIB, LEASH and BONE tokens.
BONE, the native token of our platform, serves as its control token and gives its holders voting rights within Doggy DAO, our decentralized autonomous organization (DAO).
The ShibaSwap platform also rewards users who stake and yield farm with BONE tokens, offering incentives for doing so. When digging into liquidity pools, your yields depend on the proportion of SSLP tokens you staked to total pool size; then this yield is paid back in form of its respective token – however only one-third can be claimed instantly; any excess tokens earned will vested over six months.
2. Utility-Enabled Token
The BONE token was designed as a governance token for the platform, giving users voting power on future project development including which pairs would be added through Doggy decentralised autonomous organization (DAO). The more BONE a user owns, the stronger their vote.
Current offerings from this platform distinguish it from other crypto exchanges. One such feature is an attractive passive income reward system – through BONE BURY users can stake SHIB and LEASH to earn rewards by staking into a pool, earning tokens based on their percentage share in that pool.
BONE is currently the only coin available to ShibaSwap’s Layer 2 solution, Shibarium. As it’s utility-enabled token status has encouraged analysts and algorithm-based forecasters to predict bullish predictions about its price, CoinCodex provides both desktop and mobile portfolio platforms which allow investors to track BONE investments – plus price alerts can notify when your favourite cryptocurrency reaches predetermined thresholds!
3. SHIB: The Metaverse
SHIB: The Metaverse has seen plenty of updates for Shib Army. Recently, their team revealed that they would unveiling Rocket Pond Hub as part of their next update, providing some sneak preview images in a blog post. In future updates, their goal is to reveal district features which allow users to unlock different opportunities.
The development team is also creating a photorealistic experience that will immerse users more fully into the Metaverse, including adding more game studios such as RenQ (RENQ). 2022 could prove pivotal for SHIB Metaverse and its infrastructure such as Shibarium; its layer 2 protocol promises faster speeds, security and interoperability across its platform as well as increased transaction throughput and off-chain processing capabilities that will fuel innovation across blockchain and Metaverse applications.
4. Shibarium
Shibarium’s Layer 2 Protocol seeks to enable metaverse and gaming applications to run off the blockchain, thus lowering transaction fees. This is achieved by taking advantage of Ethereum Virtual Machine (EVM), while employing an off-chain transaction processing mechanism called Optimistic Rollups for transaction processing.
Shibarium provides access to its EVM through an Ethereum-based bridge, making smart contract creation and deployment much simpler for developers. Furthermore, Shibarium employs an energy-saving Proof-of-Stake consensus mechanism when processing transactions compared to typical Proof-of-Work chains like Bitcoin.
BONE token is used on Shibarium network to reward validators and delegators, and has a limited supply of just under 230 million. This ensures sufficient supply to meet demand without increasing speculation interest. Another token called TREAT will incentivize staking and liquidity pools; its release has yet to take place. Overall, Shibarium’s launch should serve as an enormous catalyst for all non-fungible tokens (NFTs) present within ecosystem.
