Summary of Content
The Shiba Inu cryptocurrency project, rooted in the popular Shiba Inu dog meme, presents itself as a rival to Dogecoin and runs on the Ethereum blockchain. The project consists of three tokens – SHIB, BONE, and LEASH – each serving a specific purpose. SHIB is the main token used for payment, BONE is the governance token that allows participation in decision-making, and LEASH provides benefits to dedicated supporters.
Key Points:
- SHIB is a decentralized currency accessible to millions of users globally.
- BONE is the governance token for the project and establishes the groundwork for Shibarium, Shiba Inu’s own Layer 2 network.
- LEASH offers exclusive benefits to dedicated supporters, such as increased BONE rewards and priority access to land sales in the “SHIB: The Metaverse project.”
- A crypto enthusiast highlighted the similarities between BNB and BONE tokens in their roles, supply dynamics, and potential for supply shocks.
- The comparison suggests that BONE could play a significant role in Shibarium Layer 2 and experience a similar supply shock to BNB.
Hot Take:
The similarities between BNB and BONE tokens are striking, indicating closely intertwined trajectories. As BONE gains more adoption and becomes a favored token for liquidity pools on Shibarium, its demand and supply scarcity narrative could significantly boost its value.
At the time of writing, BONE is trading at around $1.54, up 3.01% in the past 24-hour period.
Featured Image Credit:
Photo / illustration by LeandroDeCarvalho via Pixabay
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