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Precipitate Protocol adds BONE as a payment option after the community votes 100% to adopt the Shiba Inu ecosystem token in a recent governance setup.
Precipitate.AI, an AI blockchain infrastructure, has officially added BONE as a payment option following a community governance vote. The vote, which took place between May 20 and May 23, saw BONE win with 100% consensus.
Quorum Reached$BONE has been added as a payment option to https://t.co/NtnUQSN2bH.
Out of the Loop? Governance has started.
👇https://t.co/99AI3yM2Qz pic.twitter.com/GEBPxgNe8k— Precipitate Protocol (@PrecipitateAI) May 22, 2024
Voting Details and Results
The governance vote was conducted to decide between two tokens, BONE and LEASH, as the new payment currency for the platform. The voting system employed was single choice, and the snapshot block stood at 19,886,694. The quorum required to validate the vote was at 5 million RAIN, with the total votes cast amounting to 8.4 million RAIN, comfortably surpassing the quorum threshold.
In the final tally, BONE received all the votes, totaling 8.4 million RAIN, with LEASH seeing no votes. Notably, the voter groovydeath.eth influenced the outcome by casting 7 million RAIN in favor of BONE, which accounted for approximately 83.33% of the total votes. Other notable votes included 0x5e10…d9cA with 1.3 million RAIN, 0x6fD7…6cE9 with 100K RAIN, 0x8AA2…230D with 10K RAIN, and 0x570b…31E8 with 2K RAIN.
The adoption of BONE could bolster its market presnece. As of today, BONE trades at $0.6268, with a 24-hour trading volume of $5,406,273. However, its price action has been turbulent in recent times, dropping 2.65% in the last 24 hours and 3.74% over the past 7 days.
BONE Future Projections
Initially introduced as a reward token for SHIB holders, BONE’s role within the Shiba Inu ecosystem has expanded significantly. It now also functions to burn SHIB tokens on Shibarium, Shiba Inu’s layer-2 scaling solution. This evolution has enhanced BONE’s utility and adoption within the ecosystem.
Speculation about BONE’s future is also fueled by reports from Coinpedia Markets, suggesting that Coinbase might list BONE this year. If this occurs, it will significantly boost BONE’s visibility and liquidity. Coinpedia highlights BONE’s governance and staking roles, and its integration with D3 Global, as key factors supporting its potential listing on major exchanges.