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Bone Crypto Explained
Bone ShibaSwap is a DEX on the Shiba Inu Ecosystem. It enables users to swap tokens and utilize DeFi opportunities, including staking, providing liquidity, and farming. This platform aims to facilitate token swaps without intermediaries or counterparty risk. BONE, on the other hand, is the governance token of the Shibaswap ecosystem. It empowers holders to create and vote on improvement proposals crafted by other community members.
What is ShibaSwap?
ShibaSwap represents the initial phase in establishing the infrastructure for the wider Shiba Inu ecosystem. The key objective of ShibaSwap is to offer a secure environment for the community to engage in decentralized token trading. It also implements unique incentives and rewards for those who contribute to the ecosystem, such as liquidity providers.
In ShibaSwap, users can Swap, Bury, and Dig. The Swap feature allows users to securely trade tokens on ShibaSwap. Meanwhile, Bury is the Staking equivalent. The Bury feature permits users to “stake” their Shiba Inu Ecosystem tokens and earn passive income rewards in BONE. The rewards received are directly proportional to the quantity of SHIB, LEASH, or BONE staked by the user. Staking serves as a reliable and low-risk method of generating passive income while retaining ownership of a specific asset.
Finally, ShibaSwap’s Dig feature. It allows users to contribute liquidity using the Dig function and earn rewards as a Liquidity Provider (LP). To participate as an LP on ShibaSwap and begin earning rewards, users can access the Dig page from the homepage.
What is BONE Token?
With a total supply of 250,000,000, BONE is the governance token for the Shiba Inu ecosystem. The token aims to enable the Shib Army to participate in the decision-making process by voting on proposals via the Doggy DAO. In addition, BONE serves as the basis for the ecosystem’s exclusive Layer 2 network, Shibarium.
BONE plays a significant role in facilitating liquidity, swapping, and staking within the SHIB ecosystem. Users can “bury” or stake their BONE tokens to earn tBONE tokens. They will also receive a portion of 1% of all BONE per block as a reward for holding tBONE. Similarly, users who dig BONE tokens are rewarded with a portion of BONE-ETH SSLP.
Advantages and Disadvantages of BONE Token
Advantages
BONE Tokens have a lot of utility in the Shiba Inu ecosystem. Most notably, it acts as a governance token for holders to vote on important decisions. Additionally, you can stake or provide liquidity on ShibaSwap using BONE Token. In return, you will receive rewards. It can also be a good investment as SHIB itself is immensely popular.
Disadvantages
Ultimately, BONE Token stems from a meme coin. It has no real-world purposes. It is a highly volatile token and its price can fluctuate drastically, making it a risky investment. The staking and the liquidity-providing process also require a moderate level of technical knowledge, which may be challenging for beginner users.
Therefore, it is important to do thorough research and understand the risks before investing in BONE.
BONE Token News: What’s up with ShibaSwap?
According to a recent Telegram message from SHIB’s anonymous lead developer, Shytoshi Kusama, ShibaSwap 2.0 is set to launch soon. Kusama confirmed the news and asked members of the Shiba Inu community to disregard any rumors suggesting that the upgraded decentralized exchange will not launch anytime soon.
Meanwhile, Kusama has not provided an official launch date for ShibaSwap 2.0. However, the news has sparked enthusiasm among Shiba Inu supporters. There were a ton of positive reactions received in response to the Telegram message.
BONE Token Price
As of today, the current trading price of Bone ShibaSwap is $1.08 USD, with a trading volume of $4,860,704 USD in the last 24 hours. However, the value decreased by 0.37% in the same timeframe. According to CoinMarketCap, Bone ShibaSwap is currently ranked #149 based on its live market capitalization of $248,358,689 USD. The total circulating supply of BONE coins is 229,923,446, while the maximum supply is 230,000,000.
Price Prediction for BONE Token in 2025
Image from Bitcoin Wisdom
The table above shows the Shiba BONE Token Price prediction. According to some experts, Bone Shibaswap (BONE) is expected to see significant growth in 2023, with a possible price of $1.60 in the second half of the year. While there may be gradual increases, no major drops are anticipated, and the minimum value is projected to be $1.28.
Looking ahead to 2024, there is considerable room for expansion for BONE, with a potential price exceeding $2.67 due to potential new partnerships and initiatives. However, it may be prudent to wait for BONE’s relative strength index to emerge from the oversold zone before placing any bullish bets. BONE is expected to trade with a minimum price of $2.13 and an average price of $2.35.
If the upward trend continues, BONE could reach $3.74 by 2025. However, market volatility may impact this outcome, and the goal may not be achieved. The projected average price for BONE in 2025 is $3.42, with a low of $3.20.
Conclusion
BONE is the governance token of the Shiba Inu ecosystem. It is primarily used for liquidity, swapping, and staking on the ShibaSwap exchange. Users can stake BONE to earn tBONE and receive a portion of BONE-ETH SSLP rewards. BONE can potentially be a good investment given its connection to the popular SHIB community.
Overall, BONE is an exciting cryptocurrency to watch in the coming years. Its connection to the popular SHIB community makes it a potentially attractive investment for those interested.
