Bone is a cryptocurrency that is a part of an ecosystem that involves two other cryptocurrencies Shiba Inu and Leash. The creators of Bone are the founders of Shiba Inu and Leash. Bone is a governance token of Shibaswap ecosystem which will allow its holders known as the (#ShibArmy) to vote on upcoming proposals. The more BONE a user holds, the more weight of their vote carries in future voting proposals.
SHIB, LEASH, and BONE, come together to create ShibaSwap, the next evolution in DeFi platforms. ShibaSwap gives users the ability to DIG (provide liquidity), BURY (stake), and SWAP tokens to gain WOOF Returns through our sophisticated and innovative passive income reward system. The ShibaSwap application also allows the ShibArmy to access upcoming NFTs and additional tools, such as portfolio trackers, to make navigating the crypto world simple and intuitive.
Tokenomics
Max Supply: 250,000,000
Total Supply: 158,797,646
Circulating Supply: 6,975,300
Market Cap: $3,628,482
Current Price: $0.52
Blockchain: Ethereum
Bone should be analyzed through the lens of a governance token. Governance tokens give holders the ability to vote on issues that govern the development and operations of a cryptocurrency project. It’s a method for projects to distribute the decision-making power to their communities. Since Bone is a governance token, I don’t think its wise to invest directly into Bone. The ShibaSwap ecosystem will continue to grow in the next few years and the need for the Bone token will continue to grow as well. Shiba Inu has surpassed 1,200,000 total on-chain holders. I would advise people to stake Leash, when holders stake Leash on the ShibaSwap platform they are able to gain interest in the currency of Bone. The market cap for this cryptocurrency is dangerously low and holders that stake Leash for Bone and then stake that Bone for more Bone will be rewarded in the next decade. The cryptocurrency economy will need more decentralized applications like the ShibaSwap application especially when Shibarium is implemented.
