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What is Bone ShibaSwap (BONE) coin?
Bone ShibaSwap (BONE) is the governance token for the ShibaSwap decentralized exchange, enabling holders to vote on platform advancements and earn rewards for liquidity provision and staking.
Dec 15, 2024 at 02:46 pm
What is Bone ShibaSwap (BONE) Coin?
Bone ShibaSwap (BONE) is the native governance token of the ShibaSwap decentralized exchange (DEX), a platform operating on the Ethereum blockchain. It empowers holders with voting rights on proposals related to the exchange's development, ecosystem, and partnerships. BONE also serves as a reward for providing liquidity on ShibaSwap and participating in the platform's Dig and Bury features.
Key Features of BONE Coin:
- Governance: BONE holders can participate in the ShibaSwap decentralized autonomous organization (DAO) through staking their tokens. They gain voting power proportionate to their stake, allowing them to influence decisions regarding the platform's future.
- Liquidity Provision Incentives: Users who provide liquidity to ShibaSwap's pools, known as Bonefolio, are rewarded with BONE. These rewards incentivize liquidity provision, enhancing the exchange's efficiency and depth.
- Digging and Burying: ShibaSwap features Digging and Burying mechanisms that allow users to earn rewards in BONE and other tokens. Digging involves staking liquidity provider (LP) tokens to earn rewards, while Burying involves staking specific cryptocurrencies to earn interest.
Technical Specifications of BONE Coin:
- Blockchain: Ethereum
- Token Standard: ERC-20
- Max Supply: 250,000,000 BONE
- Circulating Supply: 147,604,988 BONE
- Distribution: 50% to the ShibaSwap ecosystem, 20% to liquidity provision, and 30% for bone distribution
Use Cases of BONE Coin:
- Governance: Participation in decision-making for the ShibaSwap ecosystem.
- Liquidity Provision: Incentives for providing liquidity to ShibaSwap's Bonefolio pools.
- Staking Rewards: Earning rewards in BONE through Digging and Burying features.
- Fee Discounts: Reduced trading fees for BONE holders on ShibaSwap.
- Exclusive Access: Access to exclusive features and events within the ShibaSwap ecosystem.
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