Not what you're looking for? Here are projects with a similar name:
This project has no reviews yet, be the first?
0 Smart Contracts
What is Bone Shibaswap (BONE)?
BONE is the governance token for the Shibaswap ecosystem that allows community members to participate in voting on the direction of the project. The quantity of BONE held by a user determines the weight of their vote in these future decisions. BONE has a total supply of 250,000,000 tokens, strategically positioned between the circulation supplies of the previous two tokens in the ecosystem.
Who Founded BONE?
BONE crypto was created by the founders of the SHIBA INU project.
What makes BONE Unique?
Since its inception, Shiba Inu has consistently taken an unconventional approach. With an original supply of one quadrillion, the project's founder, Ryoshi, locked 50% of the tokens in Uniswap and "burned" the other half by sending it to Ethereum co-founder Vitalik Buterin for safekeeping.
Buterin also used SHIB to respond to the COVID-19 crisis in India.
This move was the largest crypto donation in history. He then burned 40% of the total supply to a dead wallet. This move ensured the long-term success and stability of the project.
BONE Shibaswap, together with SHIB and LEASH, forms the foundation of ShibaSwap, a next-generation DeFi platform. ShibaSwap also enables users of the token to DIG (provide liquidity for the platform), BURY (stake tokens), and SWAP tokens to earn WOOF Returns through a complex passive income reward system.
The platform also provides their community with access to future NFTs and utility tools, such as portfolio trackers. This aims to make it easier and more intuitive to navigate the world of cryptocurrency.
BONE Pros and Cons
- Governance tokens allow users to participate in decision-making
- Benefits from strong community support.
- One of the largest and most relevant memecoins in the market.
- Governance tokens may not always provide immediate tangible benefits to holders.
- Mint function found on some of its contracts.
Bone Shibaswap has positioned itself as an essential component within the Shibaswap ecosystem. Its role as a governance token allows users to participate in decision-making processes and contribute to the platform's development.
The innovative features of ShibaSwap, combined with the strong backing of the #ShibArmy, make BONE crypto an interesting addition to the world of DeFi.
It's also worth noting that our security review has uncovered multiple mint functions on its contracts. This means that the contract owners can mint tokens at will if they wished. It goes without saying that this can be a potential risk to the project.
Is BONE a Scam?
BONE doesn’t give the impression of a scam. It is a governance token created by the founders of the SHIBA INU project and serves an essential role within the Shibaswap ecosystem.
As with any investment, it is crucial to conduct thorough research and understand the associated risks before investing in BONE or any other cryptocurrency. Scams will be present as long as money is involved. DYOR is crucial in keeping yourself and your funds safe.
You appreciated this article, you may also be interested in Gnosis Chain - a dedicated DAO to the experimentation and the development of decentralized infrastructure for the Ethereum ecosystem.
You may also like our analysis on SushiSwap - a defi exchange.
Take time to explore other tokens here.