Bone Shiba (BONE) Token: A Complete Guide to Governance, Rewards, and the Shiba Inu Ecosystem

Bone Shiba: Everything You Need to Know

Bone Shiba (BONE) is a cryptocurrency project that serves as the governance system for the popular Shiba Inu ecosystem, ShibaSwap. Alongside Shiba Inu (SHIB) and Doge Killer (LEASH), Bone Shiba (BONE) is one of the most important tokens on decentralized exchanges (DEXs) and decentralized finance (DeFi) platforms.

Bone Shiba was launched in July 2021, together with the ShibaSwap DEX, which allows users to trade, stake, and provide liquidity for SHIB, LEASH, and BONE tokens. Bone Shiba is designed to give the Shiba Inu community, also known as the Shib Army, more power and influence over the direction and future of the project. By holding BONE tokens, users can vote on proposals, submit ideas, and access exclusive features and rewards on the platform.

Bone Shiba has a maximum supply of 250 million tokens, with a current circulating supply of about 250 million tokens as of May 20233. Bone Shiba is based on the Ethereum blockchain and follows the ERC-20 standard. Bone Shiba can be traded on various DEXs and centralized exchanges, such as ShibaSwap, Biconomy, and MEXC.

How does Bone Shiba work?

Bone Shiba works as a governance token for the ShibaSwap DEX, which is the core component of the Shiba Inu ecosystem. The ShibaSwap DEX allows users to swap any ERC-20 token for SHIB, LEASH, or BONE tokens, as well as to stake and provide liquidity for these tokens to earn rewards. The rewards are distributed in BONE tokens, which can be used to participate in the governance of the platform.

The governance of Bone Shiba is based on a ticket-based voting system, where users can buy tickets with their BONE tokens to vote on proposals or submit their own proposals. Each ticket represents one vote and can be used to approve or reject changes to the protocol, such as upgrades, features, or fees. The more BONE tokens a user has, the more weight their vote carries in the decision making process.

The proposals are submitted and voted on through a dedicated platform called Politeia, which is a decentralized autonomous organization (DAO) that manages the funds and development of the project. Politeia allows anyone to create a proposal for a specific task or project related to Bone Shiba or ShibaSwap, such as software development, marketing, research, or community building. The proposals are then reviewed and voted on by the ticket holders, who decide whether to approve or reject them.

Who is the team behind Bone Shiba?

Bone Shiba was created by the same team behind Shiba Inu (SHIB), which was founded in 2020 by an anonymous person or group of people known as Ryoshi. Ryoshi is also the leader and visionary of the Bone Shiba project, which he described as “the best Decentralized Ecosystem (DECO) on the planet” in his Medium post6.

The Bone Shiba team consists of various developers, designers, researchers, marketers, and community managers who work on different aspects of the project. Some of the notable members of the team include:

Lucie Sasnikova: The marketing specialist and spokesperson for Bone Shiba and ShibaSwap. She is responsible for communicating with the media and the public about the project’s vision and updates.

Marco Peereboom: The new systems development lead and co-founder of Company 0, a software development company that specializes in cryptocurrency and blockchain technology. He is also one of the former Bitcoin developers who joined Ryoshi’s team to create Bone Shiba and ShibaSwap.

Jonathan Zeppettini: The international operations lead and co-founder of Decred Holdings Group, a company that provides consulting and advisory services for blockchain projects. He is also one of the advisors and supporters of Bone Shiba and ShibaSwap.

Eric Meltzer: The co-founder and partner of Primitive Ventures, a venture capital firm that focuses on investing in blockchain and crypto projects. He is also one of the early investors and backers of Bone Shiba and ShibaSwap .

What are the use cases for Bone Shiba?

Bone Shiba can be used for various purposes, such as:

Governance token: Bone Shiba can be used as a governance token that grants users voting rights and influence over the direction and future of the project. By holding BONE tokens, users can vote on proposals, submit ideas, and access exclusive features and rewards on the platform.

Reward token: Bone Shiba can be used as a reward token that incentivizes users to provide liquidity, stake, and trade tokens on the ShibaSwap DEX. By doing so, users can earn BONE tokens as part of the WOOF returns, which are distributed proportionally to the amount and duration of the staked or provided tokens.

Utility token: Bone Shiba can be used as a utility token that enables users to access various services and products on the Shiba Inu ecosystem, such as NFTs, portfolio trackers, and analytics tools. By using BONE tokens, users can enjoy lower fees, higher priority, and better quality on these services and products.

Conclusion

Bone Shiba is a cryptocurrency project that aims to create a more decentralized and democratic platform for the Shiba Inu ecosystem, ShibaSwap. Bone Shiba is the governance token for the ShibaSwap DEX, which allows users to trade, stake, and provide liquidity for SHIB, LEASH, and BONE tokens. Bone Shiba also has a dedicated voting platform called Politeia, where users can submit proposals, vote on them, and discuss them with other members of the community. Bone Shiba is not owned or controlled by any single entity or organization, but rather by its community of users, developers, and contributors. Bone Shiba can be used for various purposes, such as governance token, reward token, and utility token.