Though meme coins tend to be highly unpredictable, this one seems to have some momentum behind it – this could be down to its decentralized exchange platform garnering increased attention.
This platform is a decentralized exchange (DEX), offering trading of SHIB and LEASH. Staking rewards via SSLP pools also allow you to stake more SHIB for greater voting rights on future proposals for Doggy DAO proposals.
What is BONE?
BONE is the native token for ShibaSwap, a decentralized exchange launched in July 2021. BONE serves as the governance token and allows users to cast votes for proposals such as which pair should be added via its Doggy Decentralized Autonomous Organization (DAO).
Crypto markets remain highly unpredictable, making it hard to accurately forecast any coin’s short-term price fluctuations. Based on current trends and expert opinion, BONE should experience considerable growth over the coming years.
As an ERC-20 token, BONE can be stored in any wallet that supports Ethereum such as MetaMask or Trust Wallet. To keep track of your holdings, CoinGecko also allows you to import BONE to their crypto portfolio – in addition to showing your BONE balance, CoinGecko also provides detailed charts and data regarding its performance so you can gain in-depth technical analysis for informed decisions about your investment strategy.
Getting Started with BONE
As a crypto investor, BONE can be found across numerous exchanges. Its price may reflect its deflationary nature – only 250 million tokens will ever exist and approximately 230 million exist currently in circulation.
Limit orders provide another method for purchasing cryptocurrency, whereby you specify a maximum price you are willing to pay or sell at. If the market doesn’t match that threshold price, your order will still be executed at its nearest available price.
Joining the SHIB Army, a community dedicated to supporting ShibaSwap’s mission and mission statement, can also be an effective way of contributing to ShibaSwap. By doing so, you can vote on changes to its ecosystem as well as receive rewards for your contributions. Furthermore, using its app, you can keep an eye on all your tokens as well as track its performance over time – or add BONE into your CoinCodex portfolio that currently contains over 20,000 different crypto assets!
What is ShibaSwap?
ShibaSwap was introduced as a decentralized exchange on Ethereum in 2021. It features three native tokens known as SHIB, Leash and BONE that work to reward users and support the platform in different ways.
Bone serves as the governance token within this ecosystem, enabling holders to propose and vote on changes to DOggy DAO protocol via which this project is managed; its maximum supply is set at 250 million tokens.
The BONE token provides liquidity to the platform by rewarding traders who deposit asset pairs into existing liquidity pools with trading fee rewards of 0.3% per trade. It can also be deposited into Woof, offering yield farm rewards of up to 33% of its value (although only one-third can be redeemed immediately; rest are locked for six months). Finally, it will soon be used to purchase plots of land in SHIB: The Metaverse project.
What is the Future of BONE?
BabyDoge and Shiba have made waves in the crypto space, prompting many to predict bone crypto will follow suit. Already the meme coin has gained momentum, appearing on more exchanges causing its price to skyrocket.
The BONE token has a maximum supply of 250 million and can be used to interact with ShibaSwap ecosystem, including its decentralized exchange (DEX), where users can exchange ERC-20 tokens. Furthermore, this custodial recurring payments solution called NOWPayments allows businesses to invoice clients with any tokens held as invoices in their wallet.
BONE token is a governance token that empowers its owners to vote on proposals that will shape the future of Doggy DAO, the platform’s Decentralized Autonomous Organization. As such, more BONE tokens an owner has circulating equals greater voting power when making decisions concerning Doggy DAO’s future endeavors.