Countering the FUD: Shytoshi on BONE and Community Relations

Shiba Inu’s L2 gas fee token, BONE, has been a subject of discussion within the cryptocurrency community. Following the recent launch of Shiba Inu Treat (TREAT) token, and the anticipation surrounding the upcoming Shibarium launch, BONE’s role and utility have been at the forefront of these conversations.

Now, in his latest blog post, Shytoshi Kusama has addressed these discussions, presenting an expanded narrative for BONE’s core utility, beyond its role as a gas token for Shibarium. In his words, "BONE's narrative is still being written."

Countering the FUD: Kusama on BONE and Community Relations

Throughout the post, Kusama responds to the "FUD" surrounding the BONE token, particularly in light of the hype surrounding TREAT's launch. He highlights the team's efforts to establish relationships with exchanges, not only to list TREAT but also to showcase the power of Shibarium and integrate all projects within the ecosystem.

However, he notes that these endeavors have been challenging due to the team's limited resources compared to other industry players. He also points out that the individuals spreading this FUD are "most likely people close to us who KNOW we are building."

BONE's Expanded Core: Powering Shiba Inu’s Layer 3 System

In a significant development, the blog post reframes the role of BONE, presenting it as more than just a gas token. It highlights BONE's new function as a key element in a planned layer 3 system with Fully Homomorphic Encryption (FHE).

This new utility expands on BONE's core role as a gas token for Shibarium. As Kusama explains, an experimental project will allow users to "spin up roll-ups" like Arbitrum or Optimism, which will then settle on Shibarium.

This design makes BONE essential not just for on-chain functionality but also as the transaction medium for an expanded ecosystem of layer 3 projects operating on Shibarium.

Shibarium: BONE Settlement and Data Availability Layer

Shibarium is intended to serve as both a settlement layer and a data availability layer (DAL) for these new roll-ups. A DAL, as described in the blog, ensures that blockchain transaction data is accessible and verifiable by all participants, a technology crucial for scalability and efficiency.

The blog explicitly mentions that the project has compared this use case of BONE to that of Celestia and its token TIA. "Shibarium becomes not only a settlement layer for these variety of Roll-Ups but a data availability layer!" adds the Shiba Inu visionary.

Connecting the Shiba Inu Ecosystem

In addition to its roles in Shibarium's architecture, BONE is also intended to be used as the central hub for all "Spoke" chains, enabling cross-chain capability via Chainlink for all their protocols.

This is presented as a way to demonstrate the importance of BONE and the project's serious intentions. It positions BONE at the center of an expanding network where its utility extends beyond individual transactions into the overall connectivity of the entire system and ecosystem, showcasing the project's vision for growth.

Kusama's blog post concludes with an emphasis on the future utility of BONE and the project's intentions, highlighting the focus on further adoption of Shibarium.

As Kusama's blog post makes clear, the narrative around BONE is still being written. What was once seen as a simple gas token is now being positioned as the central element in a growing ecosystem, with expanded functions as a settlement and data availability layer, and as the foundation of new, layer 3 projects that operate through Shibarium.