LUCKNOW (CoinChapter.com) – Shytoshi Kusama, the lead developer of the Shiba Inu (SHIB) coin, has spoken out about the BONE token’s role within the Shiba Inu ecosystem. A Shiba Inu coin community member recently raised the issue surrounding BONE token. He expressed concerns that the project team was not paying enough attention to key assets like BONE. Instead, the team was focusing on new products that had not been fully tested.
BONE is a unique token in the Shiba Inu coin ecosystem. It is the native asset of Shibarium, the Layer-2 blockchain built on top of Ethereum. The token serves two main functions. First, it is used to pay for gas fees on the Shibarium network. Secondly, it allows validators to participate actively in the network. Each transaction on Shibarium burns SHIB, with a portion of the BONE token fee being converted into the Shiba Inu token and sent to a null address.
Shiba Inu Developer Kusama Clears the Air Surrounding BONE Token
Surprisingly, Shytoshi Kusama himself responded to the community member’s claims. Kusama sought to address any remaining doubts and uncertainties, making it clear that BONE is fully integrated into the governance and technology of the SHIB coin ecosystem.
He emphasized that BONE is vital to the future of Shiba Inu. He also said that it is not a question of the token becoming known, but rather a matter of ongoing efforts to support it.
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However, the community member pointed out another issue. BONE token lacks listings on tier-1 exchanges like Binance. The problem is not token’s suppressed pricing but its low trading volume. BONE saw just $3.8 million in turnover in the last 24 hours. This low volume makes it less appealing for major crypto exchanges to list BONE token.
BONE token price is trading around $0.3 from the past three years. Currently, it is trading at $0.39, down 0.1% from the last 24 hours.
