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.