BONE is the governance token for ShibaSwap and owning it grants voting rights. Furthermore, it forms an essential part of the Shiba Inu ecosystem and grants users access to digital land within SHIB: The Metaverse.
BONE can also be used to dig and stake for yields on Shiba Inu’s BURY feature, and will soon become payment of gas fees on Shibarium, its Layer 2 network.
ShibaSwap
ShibaSwap is a decentralized exchange (DEX), enabling its users to swap and trade crypto assets among themselves. Furthermore, its ecosystem rewards users through staking opportunities and liquidity provision.
To participate in the staking process, you will require at least one native token – SHIB, LEASH or BONE. Staking these tokens will reward you with passive rewards proportional to how many are in the pool.
ShibaSwap also provides more than staking and liquidity pools; users can utilize its burn portal, NFT minting, and analytics features called Bonefolio to maximize value creation with SHIB tokens. Users can burn SHIB through this portal to reduce circulation supply while simultaneously increasing token scarcity; BONE is Shiba Inu Doggy DAO governance token used to vote on proposals on platform; additionally it serves as reward token for staking or liquidity provisioning on this platform.
MetaMask
MetaMask is a new type of crypto wallet designed to make creating and managing online identities simple and fast. To create one quickly and effortlessly, simply download and install its browser extension; create your wallet; write down its seed phrase; connect a hardware wallet such as Trezor or Ledger so your cryptocurrency can be managed off of one or both devices; all in an easy and seamless process!
MetaMask stands out from many other wallets by storing user assets in software wallets, known as hot wallets, that remain connected to the blockchain at all times – this increases security by decreasing attack surface area and increasing reliability of software.
No Custody Wallet This wallet does not store access keys for users’ accounts online; rather, users receive a 12-word backup passphrase they can use if their computer or account becomes lost or compromised, as well as two-factor authentication to enhance security further.
Staking
Staking on ShibaSwap is an easy way to earn rewards on our platform, with rewards proportional to the number of BONE tokens staked; real time returns are added directly into your balance. In addition, rewards can also be earned by submitting proposals through ShibaSwap.
SHIB and Bone ShibaSwap (BONE), rivals to Dogecoin (DOGE), have seen impressive gains this week, going against the trend of most cryptocurrency markets. Both currencies gained over 6% in 24 hours alone and over 9% over seven days.
The BONE token is part of the ShibaSwap ecosystem and allows holders to cast a vote on decisions that affect it. The more BONE you own, the greater your influence is. In addition, BONE holders can stake for rewards through Bonefolio to track yields. BONE also plays an integral part of SHIB: The Metaverse where it can be used to purchase virtual land as well as lock LEASH tokens so they may earn rewards through BURY feature.
