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How much is the circulation of Bone ShibaSwap (BONE) currency?

BONE's circulating supply of 793 million tokens, representing 74.5% of the total, plays a pivotal role in determining its value and influence within the Shiba Inu ecosystem.

Dec 16, 2024 at 02:32 am

Understanding Bone ShibaSwap (BONE) Currency Circulation: A Comprehensive Guide

Bone ShibaSwap (BONE) is a governance token within the Shiba Inu ecosystem, empowering its holders with decision-making authority over the protocol's direction. Its circulation plays a crucial role in determining the token's value and influence.

Current Circulation: Unlocking the Value of BONE

The current circulating supply of BONE stands at approximately 793,853,137 tokens.
This figure represents approximately 74.5% of the total supply of 1 billion BONE tokens.
The remaining 25.5% of the supply is allocated for various purposes, including ecosystem development, team allocation, and future rewards.

Determining BONE's Circulation: A Phased Approach

The distribution of BONE tokens followed a phased approach to ensure a balanced and sustainable ecosystem.
The first phase allocated 500 million BONE (50% of the total supply) to the liquidity pool of ShibaSwap, the decentralized exchange within the ecosystem.
The second phase allocated 250 million BONE (25%) to a reward pool for liquidity providers and stakers on ShibaSwap.
The third and final phase allocated 250 million BONE (25%) for future development and team allocation.

Unveiling the Tokenomics of BONE: Balancing Supply and Demand

BONE tokenomics are designed to foster long-term utility and incentivize adoption.
The maximum supply of 1 billion BONE ensures scarcity, enhancing the token's potential value.
The phased distribution approach balances available supply with demand, preventing excessive volatility.
The regular burning of BONE tokens, as part of the Doggy DAO's governance mechanism, further reduces the circulating supply over time.

Unlocking BONE's Functionality: Empowering the Ecosystem

BONE serves as a governance token, granting holders voting rights on proposals that shape the ShibaSwap ecosystem.
These proposals may include changes to tokenomics, development priorities, and partnerships.
Additionally, BONE is utilized as a reward token for liquidity providers and stakers on ShibaSwap, incentivizing participation and strengthening the protocol's stability.

Assessing the Impact of Circulation on BONE's Value

A lower circulating supply generally implies increased scarcity, which can drive up demand and potentially enhance the token's value.
Conversely, a higher circulating supply may dilute the token's value, especially if it outpaces demand.
Ongoing demand for BONE, driven by its governance and utility functions, can positively impact its value.

Additional Considerations: Shaping BONE's Future

The Doggy DAO's governance mechanism allows for adjustments to BONE's tokenomics and distribution as needed.
Future developments within the Shiba Inu ecosystem, such as the Shibarium Layer-2, could influence BONE's circulation and value.
Keeping abreast of the latest announcements and developments is essential for understanding the evolving dynamics of BONE circulation.

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