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What is the issuance and circulation of Bone ShibaSwap (BONE) coins?

Bone ShibaSwap (BONE) is capped at a supply of 250,000,000 tokens, with initial distribution to liquidity providers, developers, and ecosystem funds.

Dec 17, 2024 at 03:16 am

Understanding the Issuance and Circulation of Bone ShibaSwap (BONE) Coins

Bone ShibaSwap (BONE) is the governance token of the ShibaSwap decentralized exchange (DEX). It plays a crucial role in the Shiba Inu ecosystem, enabling holders to participate in decision-making and earn rewards. This article delves into the issuance and circulation dynamics of BONE coins, exploring the concepts behind their creation, distribution, and supply.

Issuance of BONE Coins

Total Supply: The total supply of BONE coins is capped at 250,000,000 tokens. This fixed issuance limit ensures scarcity and prevents excessive inflation in the future.
Initial Distribution: Upon launch, 50% of the total BONE supply (125,000,000 tokens) was distributed to the ShibaSwap liquidity providers (LPs). These LPs contributed their cryptocurrency assets to liquidity pools on the DEX, facilitating trading activities.
Developer and Ecosystem Fund: 20% of the total BONE supply (50,000,000 tokens) was allocated to the developer team and the Shiba Inu ecosystem fund. This allocation supports the ongoing development and marketing initiatives of the Shiba Inu project.
Uniswap Liquidity: 10% of the total BONE supply (25,000,000 tokens) was provided to Uniswap as liquidity for the BONE/ETH pair. This liquidity pool enables traders to easily buy and sell BONE coins on a decentralized exchange.

Circulation of BONE Coins

Governance: BONE holders can participate in the governance of ShibaSwap by voting on proposals that affect the DEX's operations. This includes changes to fees, new features, and strategic decisions. BONE holders with a higher balance have more voting power.
Rewards and Incentives: BONE holders can receive rewards for staking their tokens on the ShibaSwap platform. Staking involves locking up BONE coins for a specified period to support the DEX's security and operations. In return, stakers earn BONE rewards and a share of the DEX's trading fees.
Trading: BONE coins can be traded on cryptocurrency exchanges such as Uniswap, ShibaSwap, and BKEX. Trading allows users to convert BONE into other cryptocurrencies or fiat currencies. The liquidity of BONE in the market depends on factors such as trading volume and market demand.
Secondary Issuance: Unlike some cryptocurrencies, BONE does not undergo regular issuance or mining. The only way to acquire BONE is through the initial distribution, staking rewards, or trading on exchanges. This limited issuance ensures the scarcity and potential value appreciation of BONE coins.

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