What is Bone ShibaSwap?

Bone ShibaSwap (BONE) is a governance token within the ShibaSwap decentralized ecosystem. It provides the Shiba Inu community, also known as the Shib Army, with the ability to vote on proposals and access future non-fungible tokens (NFTs). The influence of a user's vote is directly proportional to the number of BONE tokens they hold. BONE is an Ethereum-based token that coexists with other tokens in the Shiba ecosystem, such as Shiba Inu (SHIB) and Doge Killer (LEASH). The ShibaSwap platform, launched in July 2021, facilitates the trading of SHIB tokens for other cryptocurrencies, with BONE serving as a crucial link within this ecosystem.

How does Bone ShibaSwap work?

BONE operates as a governance token within the ShibaSwap platform, enabling its holders to participate in decision-making processes. Users can stake their tokens to receive compensation, with the compensation amount depending on the quantity and duration of the staked tokens. The platform offers various functionalities, including the ability to provide liquidity (DIG), stake SHIB, LEASH, BONE (BURY), swap ERC-20 tokens, and receive rewards (WOOF). Users can also migrate Uniswap V2 liquidity to ShibaSwap to earn additional BONE (FETCH) and utilize BONEFOLIO for ShibaSwap analytics.

What are the potential use cases for Bone ShibaSwap?

BONE's primary use case is to facilitate governance within the ShibaSwap ecosystem. It allows token holders to vote on proposals and participate in the decentralized autonomous organization (DAO) known as Doggy. Additionally, BONE serves as a reward token for users who provide liquidity on the ShibaSwap platform. The ShibaSwap team also intends to build a metaverse platform, combining SHIB, LEASH, and BONE, to develop a robust Decentralized Ecosystem (DECO). This suggests that BONE could potentially play a role in the future development of the ShibaSwap platform and its associated projects.

What is the history of Bone ShibaSwap?

The Bone ShibaSwap project was established by the team behind Shiba Inu (SHIB), which was founded in 2020 by an anonymous individual or group known as Ryoshi. BONE was introduced to the community in parallel with the launch of the ShibaSwap platform in July 2021. The ShibaSwap platform was created to facilitate the trading of SHIB tokens for other cryptocurrencies. BONE, as a governance token, was designed to give the Shiba Inu community a voice in the platform's future development. As of May 2023, there are 229,923,351 BONE tokens in circulation out of a maximum supply of 230,000,000 coins.