As a seasoned researcher with years of experience in the cryptocurrency market, I find myself intrigued by the recent drama unfolding within the Shiba Inu (SHIB) community. The concern raised by one of its enthusiasts about the perceived lack of attention towards key assets like BONE is something that resonates deeply with me.
Recently, an unexpected turn of events unfolded in the Shiba Inu (SHIB) community when a passionate supporter voiced their concerns directly to the project’s leader, Shytoshi Kusama. The concern centered around the perception that the Shiba Inu team may not be giving sufficient focus to crucial components within the ecosystem, such as the BONE token.
Rather than concentrating on already-existing products which haven’t undergone thorough testing yet, they are shifting their attention towards novel creations. To be precise, an enthused individual mentioned that there exist individuals unaware of the purpose of this new product, referred to as BONE.
Among Shiba Inu tokens, BONE stands out as it is the indigenous asset of Shibarium. It carries out two primary roles: it serves as a means for users to pay transaction fees within the network and allows validators active participation in the network. Essentially, Shibarium executes transfers by utilizing BONE tokens to cover these costs.
It’s intriguing to note that every transaction consumes SHIB tokens, as a part of the BONE fee gets transformed into SHIB and transferred to an inactive wallet.
Shytoshi speaks
In an unexpected action, Shytoshi Kusama took the floor to address the claim directly, eliminating any lingering uncertainties. He clarified that BONE plays a vital role in both the governance and technological infrastructure of the ecosystem. Moreover, he underscored the importance of the token for the future of Shiba Inu, stating it’s not a matter of if it becomes recognized but when.
Bone is completely integrated into our governance and technology. It’s not a question of it becoming known, it is vital to our future!
— Shytoshi Kusama™ (@ShytoshiKusama) August 20, 2024
The final aspect requires further attention because BONE has yet to receive authorization to trade on top-tier exchanges such as Binance. The issue isn’t related to suppressed token quotes, but rather the low trading volume, with only $3.8 million in trades over the past 24 hours.
Maybe a little marketing and giving BONE a bit of a push should be on the Shiba Inu team’s agenda.
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2024-08-21 12:07