A recent update from the @Shibizens account has drawn attention in the Shiba Inu community by revealing that the BONE token carries more significance than merely being a meme asset.
BONE as the Gas Token of Shibarium
BONE plays a central role in the operation of Shibarium, Shiba Inu's layer-2 blockchain. It serves as the official token for transaction fees necessary for conducting operations on the network. A portion of these gas fees is utilized for larger purposes related to SHIB's tokenomics.
Automated SHIB Burning through BONE
BONE also assists in the systematic burning of SHIB. When users accumulate sufficient BONE, it is converted into SHIB, which is then sent to dead wallets. This helps to reduce the total supply of SHIB in circulation, making it scarcer.
Community Governance via BONE
In addition, BONE serves as the governance token within the SHIB DAO, allowing holders to vote on ecosystem proposals. This highlights its significance beyond being a meme asset, reinforcing its role in shaping the development of the network.
With these insights regarding the BONE token, the community can better understand its true role within the Shiba Inu ecosystem. BONE is a vital tool for governance and automated burning, confirming its importance in the project's long-term strategy.
