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BONE To SHIB: Lucie’s Leak Unveils Burning Mechanism On Shibarium Beta

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In a recent tweet, Lucie, a prominent Shiba Inu-focused Twitter account, disclosed the leak of a burn portal on ShibariumBeta, although emphasizing that it currently stands as an alpha version, not yet in its beta stage. 

This crucial information suggests that the final version may differ from what we know now. However, the leaked details provide a fascinating glimpse into the workings of this intriguing project.

According to Lucie’s tweet, the burn portal will facilitate the conversion of BONE, the native token of ShibariumBeta, into SHIB, a cryptocurrency that has recently garnered significant attention and interest. 

This development is particularly noteworthy in mentioning burning SHIB, hinting at a potential reduction in circulating supply. It, in turn, could have significant implications for the market dynamics surrounding the token.

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As Lucie points out, the alpha version of the burn portal may undergo alterations before its eventual launch. Nonetheless, this sneak peek offers a unique opportunity to delve into the project’s inner workings, sparking curiosity and speculation within the community.

However, it’s potential to convert BONE and initiate the burning process opens up new possibilities for the token’s future. It remains to be seen how these revelations will ultimately shape the Shiba Inu narrative.

Burn Process & Transaction Fees On Shibarium Network

According to the document, when a user makes a transaction, the base fee is locked on Shibarium while the priority fee is paid to the validator. The base fee is split, with 70% burned and 30% reserved for network maintenance. 

Users can initiate the burn process once a certain amount of BONE ($25,000) accumulates in the burn contract. During the burn process, BONE is sent to Ethereum’s L1 for an automated swap to SHIB, which is then burned. 

It reduces the total supply of the tokens. Users can use a specific portal on it’s website to initiate burns by confirming a few transactions for layer migration. The Base Fee is the minimum fee required for a valid transaction and is burned to prioritize transactions and maintain blockchain security. 

The Priority Fee is the amount paid to a block producer for including a transaction in a block. Validators are incentivized to include transactions with higher Priority Fees to earn more rewards.

Relatd Weekly Market Watch: Bitcoin & Ethereum Struggles While Altcoin Surges

BONE Emerges as the Most Popular Cryptocurrency in India’s Major Exchange

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The Bone token, a part of the Shiba Inu ecosystem and used in ShibaSwap, has been selected as the top choice for the next crypto listing in an exchange poll. Their success in the poll surpassed that of its competitors, PEPE and FLOKI.

The governance token of Shiba Inu’s decentralized exchange called ShibaSwap, Bone, is likely to obtain another significant listing in India. Unocoin, a prominent cryptocurrency trading platform in India, has initiated a Twitter poll to gather input from its users regarding the next asset to be added to its platform.

The poll options are PEPE, FLOKI, and ShibaSwap. With only nine hours remaining, the poll has received more than 9800 votes.

At the time of writing, Bone ShibaSwap has an enormous lead in the poll with 84.7% of the total votes. In contrast, PEPE has only received a small percentage of votes at 7.2%, while FLOKI has received even less with 5.9%.

Such a significant majority suggests that token is likely to be listed on Unocoin’s platform soon. If this occurs, it will be the fourth Indian cryptocurrency exchange to add support for Bone ShibaSwap after SunCrypto, FlitPay, and Giottus.

Participate in Exclusive BONE Token Giveaway Contest

Giottus, India’s top-rated exchange, has just added the digital asset with the BONE/INR trading pair. Following the listing of digital asset on the exchange, a special giveaway contest has been launched to celebrate this significant event. The contest is designed to attract crypto enthusiasts and provide them with an opportunity to win a portion of the generous prize pool of 2000 INR.

According to the announcement from Giottus, participants in the contest must interact with the exchange on social media by liking, retweeting, and tagging three other individuals on the dedicated giveaway post. Ten fortunate winners will be randomly selected, and each of them will be rewarded with 200 INR worth of Bone ShibaSwap. The contest is scheduled to conclude on May 15th at 5 PM.

On November 29, Suncrypto was the first to introduce support for this digital asset, followed by Flitpay last month, which added the BONE/INR trading pair.

Despite this progress, the Shiba Inu community remains motivated to petition the world’s top cryptocurrency exchanges, such as Binance and KuCoin, to list Bone ShibaSwap.

Shiba Inu Member Bust Rumors Around BONE Listing

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A Shiba Inu-focused community member took to Twitter to clear up rumors on Shibarium’s governance token BONE.

In the series of threads, the anonymous member that goes by the Twitter handle Ragnar Shib explained why the Bone contract shouldn’t be renounced.

This is because it will be used as both the Shibarium Network’s gas token and a reward for validators that confirm transactions.

“Those rewards will be created, meaning minted. And for it the contract needs not to be renounced, otherwise, the mint function won’t work.”

Out of BONE’s total supply of 250 million, 20 million are reserved for Shibarium validators. The current minted amount stands at 230 million. If the contract is revoked, it will not be possible to coin the remaining 20 million for the validators, he stated.

The Shiba Inu member then responded to those who had criticized BONE for not being listed on exchanges.

He asserted that numerous significant crypto exchanges had already listed it; among the top 20 exchanges were Cryptocom, Gate.io, Bitget, OKX, Mexc, etc.

None of them had any problem or mentioned that not being the contract renounced would be an issue and I am pretty sure that the top 5 won’t have a problem either. OKX is top 7 CEX according to CMC.

According to the Shiba Inu member, the main reason some trading platforms haven’t featured bone is that they are still waiting for Shibarium to undergo additional testing and be introduced to the mainnet.

“But it’s all right; the work is being done and we will be there soon”, he retorted.

Shiba Inu’s BONE Now Boasts Over 83k Holders

The Shiba Inu member then ends his post by assuring users that the team is working to integrate Bone and other tokens in as many exchanges as they can in order to increase adoption and reach a larger audience.

However, BONE’s lackluster performance on the price front has raised concerns among investors. In the last month, the token’s value dropped by over 35% and is still down by 10% in the last 24 hours.

Despite the price correction, Shibarium’s governance token recently reached a new milestone.

As per an Etherscan screenshot shared by the Twitter account @BoneShiba, BONE’s user count has increased to a total of 83,111.

Binance CZ’s AMA Ignites Shiba Inu Frenzy: The Rise Of The Shib Army

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Shiba Inu’s BONE token gained popularity and secured six new exchange listings, including OKX. Binance, the world’s largest crypto exchange, is now being urged by the Shiba Inu community to list BONE.

During a recent Ask-Me-Anything (AMA) session on Twitter, Binance’s CEO, Changpeng (CZ) Zhao, engaged with the audience, addressing various questions and topics.

The AMA covered various topics, providing insights into CZ’s views on various aspects of the crypto industry. The Shiba Inu community was thrilled when CZ mentioned SHIB, demonstrating his awareness of the coin’s significance.

CZ’s AMA Reveals Insights On Shiba Inu & Cryptocurrency

During the AMA, CZ discussed the relationship between the banking system and cryptocurrencies, highlighting that the success or failure of banks does not directly impact the crypto industry. 

He believes that crypto offers unique advantages such as liquidity, ease of transaction, and global accessibility and should be seen as a complementary alternative to traditional financial systems.

Addressing concerns about KYC (know-your-customer) processes, CZ acknowledged the importance of ID verification for security and compliance. He mentioned that Binance enforces global KYC procedures to set an example for the industry. 

However, he also acknowledged the need to improve the user experience and address false flagging issues that may arise during the verification process.

When it comes to regulatory challenges, CZ emphasized the significance of banking support for facilitating seamless interaction between traditional financial systems and crypto. 

He expressed that while certain countries are more favorable towards crypto, Binance strives to work with governments and regulators worldwide to establish well-crafted regulatory frameworks that benefit the industry as a whole.

As for meme coins, CZ revealed that Binance evaluates coins based on user demand and trading volume. While he personally doesn’t understand meme coins, he assured that Binance has an independent team responsible for listing decisions and mentioned that SHIB has enjoyed significant trading volume on the exchange.

CZ also touched on the importance of introducing the next generation to crypto and financial literacy at a young age, emphasizing the need to prepare children for a future that values entrepreneurship, innovation, and global commerce.

Although Binance has not yet confirmed the listing of BONE, the Shiba Inu community remains hopeful. CZ’s mention of SHIB during the AMA has undoubtedly fueled their enthusiasm.

With Binance’s reputation as a leading crypto exchange, a potential listing could further propel BONE’s popularity and solidify its position in the market.

Related Reading | Glassnode Co-founder’s Insight Into Bitcoin’s Future Trajectory: Battleground At $28K

Deepcoin Adds Shiba Inu’s BONE To Its Listing, Offering 0% Trading Fees For All Transactions

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Deepcoin, a centralized cryptocurrency exchange headquartered in Singapore, has recently made an exciting announcement regarding the listing of the Shiba Inu governance token BONE. 

The exchange has expanded its offerings by including BONE in its trading platform, providing users with an additional option to engage with the popular cryptocurrency. This news comes in the wake of its recent listing on other prominent exchanges, such as Huobi and OKX.

On April 24th, the OKX exchange announced that the votes for the listing of BONE had been counted, and the cryptocurrency would be listed alongside AIDOGE on April 25th. 

The very next day, on April 25th, the token was listed on the Huobi exchange, one of the largest cryptocurrency exchanges in the world, as reported by TronWeekly.

In a tweet from Deepcoin’s official Twitter account, the exchange expressed its enthusiasm for the new listing. To further entice traders, Deepcoin has also introduced a special offer of 0% trading fees for all transactions involving BONE.

BONE, the governance token associated with the popular Shiba Inu token, has witnessed a surge in popularity recently. It can be attributed to its recent listings on reputable exchanges, demonstrating its growing acceptance within the crypto community.

The recent integration of Shiba Inu’s token into Deepcoin’s platform has caused a stir among crypto enthusiasts globally. The news has garnered significant attention from the community, with some expressing their gratitude towards Deepcoin. 

While others have speculated about the potential benefits of BoneShiibaSwap 2.00, which reportedly yielded 58 dogey_inu 1T tokens on the same day.

Bone ShibaSwap (BONE) Price Analysis

However, the listing of the token on the Deepcoin exchange did not seem to have any significant impact on its price. According to CoinMarketcap, the token is currently being traded at $1.03, experiencing a 2% decrease in the last 24 hours but showing an 8.47% increase in the last seven-day chart. 

BONE 1D graph coinmarketcap 1
Deepcoin Adds Shiba Inu's BONE To Its Listing, Offering 0% Trading Fees For All Transactions 3

Additionally, the trading volume has decreased by 30% in the last 24 hours, while the marketcap has decreased by 2.32%. It remains to be seen whether this new listing will have any impact on the token’s price in the near future.

Related Reading |  Crypto Market Surges In Q1 2023: Binance, OKX, & Bybit Lead CEX Market Share 

Blockbank Joins The Shiba Inu Frenzy: CeFi Wallet To List SHIB Token

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In a major development in the world of cryptocurrencies, Shiba Inu tokens have been making waves among the crypto community. It has come to light that Blockbank, a prominent neo-banking platform, has taken notice of the growing interest in SHIB and has announced the listing of the token on its CeFi wallet.

This move by Blockbank is being seen as a significant step towards increasing the accessibility of SHIB to a wider audience. With the token now available for deposit, withdrawal, and trading on the platform, users can enjoy lightning-fast transaction processing times and low fees, making it easier and more convenient for them to participate in the world of cryptocurrencies.

The announcement of the SHIB listing on Blockbank’s CeFi wallet has generated a lot of excitement among crypto enthusiasts, with many taking to social media to express their views on the matter. It remains to be seen how this development will impact the value of SHIB and whether it will continue to gain more attention in the coming days.

SHIB is the main token in the Shiba Inu ecosystem, which aims to bring decentralized, community-led currency to people worldwide. The ecosystem also includes other tokens, such as BONE and LEASH, which offer their own unique opportunities for community members.

Yesterday, as reported by TronWeekly, Shiba Inu’s BONE token got listed on Huobi exchange. Deposits open from 06:30 UTC on April 25, and BONE/USDT trading pair will start once deposit volume meets demand. BONE token withdrawals are also possible from April 26 at 08:00 UTC.

With more exchanges considering listings and new listings popping up, the Shiba Inu ecosystem is proving to be a vibrant and exciting space for crypto enthusiasts.

Shiba Inu (SHIB) Price Analysis

The news of the Blockbank listing has caused a significant spike in the value of SHIB, which has been steadily rising in popularity over the past few months. The announcement has caused the token to reach a new high of $0.00001052 today. 

According to CoinMarketcap, the token is presently being traded at $0.00001051, with an increase of 3.13% in the last 24 hours. This increase in demand has also caused the market capitalization to rise by 3.13%.

SHIB 1D graph coinmarketcap 1
Source: CoinMarketcap

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Shiba Inu BONE Jumps 9% Following This Listing

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BONE, the central token of Shiba Inu’s layer 2 solution has gained a listing on the Huobi exchange. The trading firm is set to list BONE on April 25, with deposits opening from 06:30 UTC onwards.

As soon as the deposit volume matches market demand, the BONE/USDT spot trading pair will begin trading. Additionally, beginning on April 26 at 08:00 UTC, users can withdraw their BONE tokens, the announcement read.

Shortly after the news, BONE surged by roughly 9%, only to retrace back, and is currently trading at $1.06.

In February, rumors that Huobi might list the token began to circulate. The Seychelles-based trading platform later confirmed these rumors in a post.

Just recently, the Shibarium token was listed on OKX after winning the popular vote in a survey conducted by the top platform. The exchange stated that spot trading for BONE will open on April 25, 6:00 a.m. [UTC].

Prior to the listing, the Seychelles-based cryptocurrency exchange announced it would start a meme coin deposit and listing activity.

It encouraged the cryptocurrency community to vote on their favorite option from a list of meme coins, which included AIDOGE, BONE, BONK, TSUKA, PEPE, OPTI, and QUACK.

The poll’s winners, AIDOGE and BONE, will be made available on the site on April 25.

Shiba Inu’s BONE also secured a listing in the Poloniex exchange which is backed by TRON’s Justin Sun in March.

Shiba Inu’s BONE Multi-Use Cases

The high-profile listings of BONE token coincide with the impending debut of Shibarium, a layer-two scaling protocol developed by Shiba Inu that will form the framework of the ShibaSwap ecosystem.

BONE serves as a utility token as well as a governance token. According to information provided by CoinMarketCap, there is currently 167,333,842 BONE in circulation out of a total token supply of 230,000,000.

The primary function of BONE for Shibarium, whose beta launch is anticipated soon, will be that of “gas,” enabling users to carry out transactions and employ smart contracts on the Layer-2 protocol.

BONE, in addition to serving as the governance token, will let the ShibArmy vote on subsequent proposals. Delegators and validators would both receive rewards from it.


Crypto.com Adds New Shiba Inu Pair: Details

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A new Shiba Inu and Bone pair is now available for trading in the Singapore-based crypto exchange Crypto.com.

The exchange, founded in 2016, is among the leading digital asset platforms that has over 80 million users spanning across 90 nations around the world.

The newest addition comes after the trading firm listed BONE, ShibaSwap’s governance token, a month ago.

The move drew significant attention since the SHIB’s development team was getting ready to introduce a beta version of its scaling solution, called Shibarium at the time.

It is noteworthy to mention that Crypto.com is currently among the top 10 largest holders of the Shiba Inu Governance token.

As per data from the blockchain explorer and analytics platform, Etherscan.io., Crypto.com’s BONE wallet recorded substantial growth. From March 2, the wallet has amassed more than 2 million BONE tokens worth roughly $2.66 million.

The exchange follows another Singapore-based exchange, MEXC Global, in the BONE holders ranking.

BONE is crucial to the entire ShibaSwap environment since it enables the Shiba Inu community to vote on incoming suggestions. The more tokens a user has, the more influence their vote will have on upcoming decisions.

At present, the token’s total supply stand at 250 million and is its configuration places it exactly halfway between the previous two tokens in terms of supply for circulation. Being ShibaSwap’s governance token, BONE is essential to the development and success of the platform.

Moreover, the Shibarium team has said that every transaction would burn SHIB tokens and mandate BONE to cover transaction costs, helping boost both tokens.

Shiba Inu’s BONE Multiple Listing

In order to prevent disappointment and delays, the project’s primary developer, Shytoshi Kusama, has been mum on the dates for the mainnet debut or how long the beta will be available.

Nonetheless, Shiba Inu’s BONE has secured several high-profile listings and has recenty gained a listing in the Poloniex exchange which is backed by TRON’s Justin Sun. 

Apart from that, the token has landed on several top exchanges, such as Gate.io, Huobi, and Bitget. BONE also expanded its footprint in NovaDAX, a Brazilian cryptocurrency asset exchange.

However, the new listing has not made any significant impact on the token’s price and is currently languishing at $1.08, down by over 3% in the past 24 hours.

Shiba Inu Releases Documentation For Shibarium Beta: A Low-Cost Blockchain Solution

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Shiba Inu developers have made public documentation for Shibarium beta, a blockchain layer-2 solution for the Shiba ecosystem. The objective is to provide a cost-effective blockchain solution for the Shiba ecosystem, and it is expected to reduce transaction fees for those involved in the Shiba Inu experiment. 

Shibarium was first proposed by Ryoshi, the creator of Shiba Inu, who believed that a community must have a low-cost blockchain solution for true decentralization. He stated that Shibarium’s transaction fees would be minimal or zero, enabling seconds for less than pennies turnaround time for transactions.

Shibarium’s layer-2 solution is designed to provide people, developers, and businesses with faster transaction speed and lower fees than blockchains. 

It also serves as a foundation for developing decentralized applications (DApps), including Shib – The Metaverse (Shib.io), Shiba Eternity, and various other products, projects, platforms, and services within the broader Shiba Inu community.

Benefits Of Using Shiba Inu’s Shibarium

One of the main benefits of using Shibarium is security, as it is a highly secure and tamper-proof platform that can store and transmit sensitive data. To secure the blockchain, a proof-of-stake algorithm requires users to stake their BONE tokens from the Shiba Inu Ecosystem to participate in the network. 

This method ensures that validators have a stake in the blockchain’s success, thereby bolstering its security. Moreover, a network of nodes also provides the safety of the blockchain by validating transactions and keeping the blockchain updated.

Another advantage of Shibarium is that it is a transparent platform that allows users to track all transactions and activities. It is also a faster and more efficient platform that processes transactions quickly and easily. In addition, people and businesses can save money on transaction fees by using Shibarium, making it a cost-effective platform.

Shibarium’s PoS (Proof-of-Stake) chain utilizes side chains to process transactions, resulting in unparalleled transaction speed and cost efficiency. PoS also guarantees asset security by employing the reliable Plasma bridge framework and a decentralized network of PoS validators. 

The platform is fully EVM compatible, allowing smart contracts to be deployed directly on it, and it is easy to transfer tokens between Shibarium and Ethereum.

Nevertheless, Shibarium is designed to be compatible with major ERC standards, ensuring seamless integration. It has been built to scale and adjust to the requirements of any organization, product, platform, project, community, or token. 

The platform maintains the security features of Ethereum while substantially enhancing the blockchain’s speed, making it an exciting development for the Shiba Inu community.

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Shiba Inu’s BONE Starts Trading At Justin Sun-Backed Exchange

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Shiba Inu’s BONE has gained a listing in the Poloniex exchange which is backed by TRON’s Justin Sun. As per the announcement post, the token’s wallets will open on March 9, 2023, at 10:00 a.m. UTC and full trading will go live on March 9, 2023, at 11:00 a.m.

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Shiba Inu's BONE Starts Trading At Justin Sun-Backed Exchange 6

BONE secured several high-profile listings owing to the upcoming Shibarium launch, a layer-two scaling protocol of Shiba Inu that will serve as the backbone of the ShibaSwap ecosystem.

Besides being the governance token, BONE will allow the ShibArmy to vote on upcoming proposals. It would also be used to reward validators and delegators.

As reported by TronWeekly, Crypto․com, a leading crypto exchange, recently announced listing the token for trading. 

In addition to that, the token has landed on several top exchanges, such as Gate.io, Huobi, and Bitget.

BONE also expanded its footprint in NovaDAX, a Brazilian cryptocurrency asset exchange.

However, the new listing has not made any significant impact on the token’s price as the 94-ranked asset is currently languishing at $1.70, down by over 5% in the past 24 hours.

The asset’s current drawdown has erased much of its gains acquired last month that saw the asset reaching a new year high of over $2 on Feb 24.

Despite its price drop, the relatively new token has emerged as one of the best-performing altcoins in the crypto market.

Shiba Inu’s BONE Flash Bullish Signs- Report

Based on volume over the past five days, InvestorsObserver Sentiment Score, a trustworthy gauge of cryptocurrency performance, has assigned Bone ShibaSwap a Bullish rating.

The unprecedented surge coincides with BoneArmy’s most recent announcement regarding this week’s public beta launch of SHIBARIUM.

Crypto fans and token aficionados worldwide awaited further information on accessing the beta website as the community shared the wonderful news on their official social media channels.

One tweet by the token’s official Twitter account read:

Finally, all the things I said about this token in these two years have been proven. How long have you been following me? I want to know who are the old followers.

Users are urged to follow official blog updates and social media handles as the exact date has not been disclosed.