u.today
There was some unexpected drama in the Shiba Inu (SHIB) world recently, when one of the enthusiasts spoke up to the crypto project lead, Shytoshi Kusama. The issue the enthusiast raised was that the Shiba Inu team does not seem to be paying enough attention to key assets in the ecosystem, like the BONE token.
Instead, they are focusing on new products that have not been fully tested. In fact, the enthusiast said that there are people who do not even know what BONE is for.
If you do not know, BONE is special among Shiba Inu tokens because it is the native asset of Shibarium. It has two main functions: it helps users pay for gas to facilitate transactions on the network, and it lets validators take an active part in the network. Shibarium handles transfers by using BONE tokens to cover fees.
What is interesting is that each transaction burns SHIB tokens, with a portion of the BONE fee being converted into SHIB and sent to the dead wallet.
Shytoshi speaks
In a surprising move, Shytoshi Kusama stood up to answer the claim himself and put any remaining doubts to rest. He made it clear that BONE is fully integrated into the governance and technology of the ecosystem. Kusama also emphasized that the token is crucial to the future of Shiba Inu and that it is not a question of it becoming known.
Bone is completely integrated into our governance and technology. It's not a question of it becoming known, it is vital to our future! https://t.co/pTZdsPsYin
— Shytoshi Kusama™ (@ShytoshiKusama) August 20, 2024
The last part is something that still needs to be worked though, as BONE has not been granted access to tier-1 exchanges like Binance, for example. The problem is not even in the suppressed quotes of the token, but rather in the low trading volume, with $3.8 million turnover in the last 24 hours.
Maybe a little marketing and giving BONE a bit of a push should be on the Shiba Inu team's agenda.