- BONE token’s shift from rewards to governance reflects Shiba Inu’s evolving ecosystem strategy.
- Lucie reveals BONE’s dual role in rewarding liquidity and burning SHIB on Shibarium.
- Shibarium’s launch amplifies BONE’s utility as the designated gas fee token, incinerating billions of SHIB.
The crypto world has taken notice of Shiba Inu‘s most recent innovation. Amidst this interest, Lucie, the marketing lead at the project shares her insights into the development of Bone (BONE), the governance token of ShibaSwap.
Lucie went into great length on X about the main reasons BONE was founded. BONE, which was first intended to be a prize token for SHIB holders, has developed to have other uses inside the Shiba Inu ecosystem. Lucie stressed that although its original purpose was to reward SHIB holders, it now also burns SHIB on Shibarium, Shiba Inu’s layer-2 scaling solution.
The choice to redo BONE indicates a calculated change in the ecosystem’s priorities. Offering liquidity providers on ShibaSwap a lucrative annual percentage yield (APY) of up to 33% in BONE as a reward token, BONE promotes SHIB staking.
Shibarium also brought BONE, the official gas fee token, more utility. As such, Shibarium’s function inside the ecosystem is further cemented by the fact that users dealing on it now have to pay fees in BONE.
SHIB token burning has been a prominent result of this method; 56 billion units have already been burned. Lucie pointed out that some of the transaction fees received on Shibarium is used to purchase and burn SHIB tokens with BONE, which helps to explain this significant drop.
Nevertheless, Lucie emphasized the unique functions that every token plays in the Shiba Inu ecosystem. On ShibaSwap, BONE serves as both a governance and reward token; for staking and transactions, SHIB continues to be the main token.
In the future, the TREAT token is expected to become the governance and reward token for the ecosystem, hence expanding its offers. The Shiba Inu community is excited to watch how its ecosystem develops as Lucie’s ideas clarify the complexities of tokenomics.
