Cryptocurrencies

Text

Who issued the Bone ShibaSwap (BONE) currency?

BONE, a governance token issued by Shiba Inu's founder Shytoshi Kusama, empowers holders with voting rights in the ShibaSwap DEX, fostering community ownership and participation.

Dec 15, 2024 at 03:55 am

Who Issued the Bone ShibaSwap (BONE) Currency?

Bone ShibaSwap (BONE) is a governance token issued by Shytoshi Kusama, the pseudonymous founder of the Shiba Inu ecosystem. BONE empowers holders with voting rights to participate in the governance of the ShibaSwap decentralized exchange (DEX).

Issuance of Bone ShibaSwap (BONE)

BONE was issued through a fair launch on July 20, 2021. Unlike many other cryptocurrencies, BONE was not pre-mined or allocated to a small group of investors. Instead, all BONE tokens were distributed to the Shiba Inu community through liquidity mining and staking rewards.

Role of Shytoshi Kusama in BONE Issuance

Shytoshi Kusama's role as the pseudonymous founder of the Shiba Inu ecosystem and the issuer of BONE is significant for several reasons:

Anonymity: Kusama's anonymity ensures the decentralization of the Shiba Inu ecosystem and prevents any single entity from controlling the project.
Community Leadership: Kusama actively engages with the Shiba Inu community on social media and forums, fostering a sense of ownership and involvement among token holders.
Transparency: Despite his anonymity, Kusama has maintained transparency by publishing blog posts and participating in community discussions, keeping the community informed about BONE and other Shiba Inu ecosystem developments.

Distribution of BONE Tokens

BONE tokens were distributed through the following mechanisms:

Liquidity Mining: 30% of the total BONE supply was allocated to liquidity mining rewards on ShibaSwap. Users who provided liquidity to the DEX earned BONE tokens based on the size and duration of their contributions.
Staking: 20% of the total BONE supply was allocated to staking rewards. Users who staked their Shiba Inu (SHIB) or Leash (LEASH) tokens on ShibaSwap earned BONE tokens based on the amount and duration of their staking.
Remaining Supply: The remaining 50% of the total BONE supply was allocated to various ecosystem initiatives, including development, marketing, and partnerships.

Voting Power and Governance

BONE holders have the power to participate in the governance of the ShibaSwap DEX:

Proposals: BONE holders can submit proposals for changes to the ShibaSwap protocol, including fee structures, liquidity pool parameters, and new features.
Voting: BONE holders can vote on active proposals to determine the outcome of governance decisions. The amount of BONE a user holds determines their voting power.
Consensus: Decisions on governance proposals are made through a community consensus, ensuring that the interests of the entire BONE holder community are represented.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

UXLINK

$3.3605

96.67%

Trade Now
FARTCOIN

$1.2073

65.77%

Trade Now
PHA

$0.2134

58.35%

Trade Now
MOCA

$0.4151

42.92%

Trade Now
COW

$1.0783

37.14%

Trade Now
HT

$1.0419

33.73%

Trade Now

Latest Crypto News

IRS Confirms Crypto Staking Taxable On Receipt
2024-12-25 10:30:01
Web3Bay: The Next E-commerce Gem Set to Reward Its Community with 62x Gains
2024-12-25 10:30:01
The Best Crypto Coins to Buy in 2025: Cronos, Algorand, Kaspa, and BlockDAG
2024-12-25 10:30:01
Best Cryptos to Buy in December 2024: Qubetics ($TICS), Celestia (TIA), and EOS (EOS)
2024-12-25 10:30:01
BTFD Coin Presale Big50 Discount, Bonk Climbing, Bone ShibaSwap Slow Ascension: The Top New Meme Coins to Invest in Now
2024-12-25 10:30:01
Memecoin Phishing Scams Net Threat Actor $500K From 15 Compromised X Accounts
2024-12-25 10:30:01

Related knowledge

What is the recommended storage wallet for Request (REQ) coins?

Dec 25,2024 at 07:02am

Key PointsUnderstand the storage options available for Request (REQ) coins.Evaluate the security features and user-friendliness of each wallet type.Choose the wallet that best meets your individual storage needs.Consider both hardware and software wallets, as well as custodial and non-custodial options.Regularly review your wallet security and update yo...

How does the market cap of Stella (ALPHA) coin compare to other meme coins?

Dec 25,2024 at 09:18am

Key PointsMarket capitalization of Stella (ALPHA) compared to other meme coinsFactors affecting market capitalizationProspects for Stella (ALPHA) market capitalizationFrequently Asked QuestionsMarket Capitalization of Stella (ALPHA) CoinMarket capitalization is a measure of a cryptocurrency's total value and is calculated by multiplying the number of co...

How xMoney (UTK) coins are generated

Dec 25,2024 at 04:40am

Key Points:Understanding the xMoney (UTK) EcosystemMining UTK through Proof-of-WorkEarning UTK through StakingAcquiring UTK via ExchangesAlternative Methods for UTK AcquisitionHow xMoney (UTK) Coins are Generated1. Understanding the xMoney (UTK) Ecosystem:xMoney (UTK) is a privacy-centric cryptocurrency that leverages zero-knowledge succinct non-interac...

Which are the best wallets to buy and sell xMoney (UTK) coins?

Dec 25,2024 at 11:07am

Key PointsBest Wallets for Buying and Selling UTKAtomic WalletTrust WalletExodus WalletMetaMaskCoinbase WalletBenefits of Using a Hardware Wallet for UTKEnhanced SecurityOffline StorageWider Coin SupportHow to Choose the Best Wallet for UTKConsider Security FeaturesCheck Supported BlockchainsEvaluate User Interface and AccessibilitySteps to Buy UTK on a...

Maple Token (MPL) Coin Introduction

Dec 25,2024 at 06:58am

Maple Token (MPL) Coin IntroductionKey Points:Overview of Maple Finance and its innovative lending platformFunctionality of the Maple token (MPL)Tokenomics and distribution of MPLPotential risks and opportunities associated with MPLFAQs related to Maple Token and Maple FinanceOverview of Maple FinanceMaple Finance is a decentralized lending protocol tha...

Inventory of the top Stella (ALPHA) currency trading platform apps

Dec 25,2024 at 07:04am

Key Points of the Article:Ranking of the Top Stella (ALPHA) Currency Trading Platform AppsStep-by-Step Guide to Choosing the Best Stella (ALPHA) Currency Trading Platform AppIn-depth Analysis of the Key Features to ConsiderEvaluation of Security Measures and RegulationsFAQs on Stella (ALPHA) Currency Trading Platform AppsRanking of the Top Stella (ALPHA...