Shibarium, a significant catalyst for the burgeoning Shiba Inu ecosystem, currently undergoes beta testing with no definitive launch date established. Prior statements suggest that Shibarium will deploy on the mainnet by 2023’s end; however, Shiba Inu’s lead developer, Shytoshi Kusama, has recently disclosed that audits are planned before then. Upon Shibarium’s launch, Bone ShibaSwap (BONE) is anticipated to become increasingly vital to the SHIB ecosystem.
Shiba Inu Addresses FUD
Intended as the exclusive token for gas fee payment on Shibarium, BONE will possess an additional, highly significant use case. All Layer-2 network transactions require BONE payment.
Despite this, BONE has only been listed on a few major centralized exchanges (DEX). The Shiba Inu ecosystem token’s largest trading volume exchange is the decentralized Uniswap, followed by Huobi, Gate.io, OKX, Bitget, and MEXC. The top 5 exchanges by volume, including Binance and Coinbase, have yet to list BONE.
Addressing the circulating rumor (FUD), Shiba Inu developer Ragnar Shib (@RagnarShiba) clarified in a Twitter post that the BONE contract must not be waived for listing on major exchanges, contrary to the rumor. According to Ragnar Shib, the BONE contract should remain unwaived, as the token will also serve as a reward for validators verifying transactions on the Shibarium network.
Ragnar Shib explains that contract cancellation would render the exchange function inoperable, and out of the total 250 million BONE supply, 20 million are reserved for Shibarium validators. These 20 million BONEs, designated for validators, cannot be created if the contract is canceled.
Regarding listing considerations, Ragnar notes that several major exchanges have already listed BONE.
None of them have encountered any issues or mentioned that not canceling the contract would pose a problem, and I’m fairly certain the top 5 won’t have any issues either.
Lastly, Ragnar stated that the Shiba Inu team strives to list BONE and all other ecosystem tokens on as many exchanges as possible, ensuring broader reach and adoption. The actual reason some exchanges have yet to list BONE, according to Ragnar, is:
Because they are awaiting further testing and mainnet launch of Shibarium. But rest assured, progress is being made, and we will be there soon. So, ShibArmy, stay strong!
