The team behind Shiba Inu published key updates on the minting rate of BONE. According to the blog post, the new minting rate is set at 1 BPB [BONE per block] to prevent the over-minting of the crypto asset.
Instead of halting the minting process completely, slowing the BPB, ensures not only the integrity of the DAO vote but also the reward system, while safekeeping the agreed minting ratios voted in by the community at 230 million BONE, the team claims.
Earlier the community decided to place a limit on the maximum supply at the original cap of 250 million BONE by stopping its minting at 230 million.
In addition to that, this adjustment would also streamline ShibaSwap rewards of the upcoming reward token TREAT, which is slated to enter the ecosystem soon.
We understand reducing the BPB down may seem like a drastic approach to the rewards system right now, but beginning streamlining the future of ShibaSwap will allow the team to focus on the tasks that will bring these systems to life sooner rather than later.
“Tokenomics for TREAT have yet to be revealed”, the blog added. It then concluded the post by urging users to stay tuned to https://blog.shibaswap.com for upcoming releases.
For those new, BONE is the governance token of the Shiba Inu ecosystem & is about to become the ‘gas’ of the Shibarium Protocol, which means that the token would be necessary to perform every function on Shibarium SHIB’s Layer 2 Solution.
As per recent updates shared by Unification last month, the Shibarium Public Beta TestNet is planned for deployment in Q3, 2022.
Shiba Inu ‘Whale’ Transactions Have Spiked By 85%
Per IntoTheBlock data, Shiba Inu whales, or large-scale investors, are on the go, as large transactions have swelled by 85% over the past day.
Typically transactions of over $100,000 come under the large transactions and are sometimes linked with increased activity from whales who are either buying or selling.
Data from WhaleStats also revealed that the top 100 Shiba Inu holders showed a 33% surge in active address counts further contributing to the volume of large transactions.