What is Bone ShibaSwap (BONE)? Bone ShibaSwap (BONE) is the governance token of the ShibaSwap decentralized exchange (DEX) with voting functionality. BONE allows the Shiba Inu community, also known as the Shib Army, to vote on proposals, submit new proposals, and access future NFT assets. The more BONE tokens users have, the more valuable their votes are.
BONE, an Ethereum-based token, is included in the Shiba ecosystem, just like Shiba Inu (SHIB) and Doge Killer (LEASH) tokens. SHIB is described as the "Dogecoin (DOGE) killer" according to the Shiba Inu website. With the popularity it has achieved, the project is the second largest dog-themed memecoin in the crypto space.
ShibaSwap exchange was launched on July 7, 2021 to allow users to exchange SHIB tokens for other cryptocurrencies. BONE forms the middle link of the ecosystem. SHIB holders on the ShibaSwap platform provide liquidity for BONE reward tokens. Users earn rewards by staking their tokens. Rewards are determined based on the amount of staked tokens and duration.
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