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Shiba Inu Ecosystem Token BONE Breaks Record of Over 50,000 Holders

Bone ShibaSwap, the Shiba Inu ecosystem governance token, is also growing steadily as the number of holders recently surpassed 50,000.

According to the data from Etherscan.io, the number of unique BONE token addresses is now standing at 50,106. Although it’s a new token, the investors’ interest in it has been exceptional lately.

Shiba Inu Ecosystem Token BONE Breaks Record of Over 50,000 Holders
Source: Etherscan.io

Why the Increase in Demand for Bone ShibaSwap?

The demand for BONE, the Shiba Inu ecosystem governance token, started increasing when the potential launch of Shibarium (Layer 2 Solution) was hinted at by Unification XFUND.

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In late June 2022, the blockchain firm confirmed via a blog post that the Shibarium Public Beta testnet is slated for deployment in the third quarter of this year.

In the upcoming project, the BONE token would be used as a native gas token on the Layer-2 solution, Shibarium. This implies that all SHIB holders would need BONE tokens to initiate transactions on Shibarium. Since it’s a governance token as aforementioned, it gives Shiba Inu community members the ability to vote on upcoming proposals.

Read Also: ALL Shiba Inu Ecosystem Tokens (SHIB, BONE, LEASH) Can Now Be Traded on Switchere Exchange

For instance, the community recently voted in favor of halting the minting of BONE tokens at 230 million coins to reserve the remaining tokens for validators. Howbeit, instead of halting the minting of BONE, the team decided to adjust the current minting rate to 1 BONE per block to avoid over-minting of the token.

Additionally, the team at the Shiba Inu community is planning to release a new reward token codenamed TREAT, which will serve as ShibaSwap Rewards in place of BONE.

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It’s also worth noting that BONE is getting support from several exchanges and crypto payment gateways, such as the recent support of a Canada-based exchange Biconomy Global, and many others.

Considering the upcoming developments, BONE is expected to see a massive boost in exposure, which would attract more investors.


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Tobi Loba
Tobi Loba
Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.
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