Shiba Inu: Major Crypto Exchange Expands Support for BONE

Shiba Inu governance token and Shibarium gas token, BONE ShibaSwap (BONE), is set to gain increased exposure as a major crypto exchange expands support.

OKX Africa, a subsidiary of the Seychelles-based cryptocurrency centralized crypto exchange OKX, has added BONE to its On-chain Earn. Lucie, a Shiba Inu team member, draws attention to this positive development on X.

OKX On-chain Earn allows users to participate in on-chain earnings opportunities. There are two ways that users can receive incentives for their participation: proof-of-stake (PoS) and DeFi protocols.

The yield from proof-of-stake (PoS) staking is derived from block rewards and transaction fees paid by users who participate in the blockchain network's validation process.

In DeFi protocols, users gain incentives for staking or supplying liquidity to lending pools or decentralized exchanges.

BONE serves as the Shibarium gas token and has gained new exchange listings of late. EarnBIT, a new crypto exchange, announced the listing of BONE in January. Meanwhile, Shibarium continues to increase in measures and has surpassed 332 million in total transactions, while total blocks are nearing the 3 million mark.

At the time of writing, BONE was slightly up 0.35% in the last 24 hours to $0.547.

Shiba Inu holders urged to beware

SHIB, BONE, LEASH holders and participants in the Shiba Inu and Shibarium ecosystems are urged to beware as more fake accounts intending to prey on unsuspecting users are on the rise.

As Shiba Inu grows in popularity, scammers or bad actors have seemingly upped their game, even going as far as cloning legitimate Shiba Inu accounts to trick unsuspecting users.

Shibarmy Scam Alerts, an X handle dedicated to uncovering scams, draws attention to this development while flagging a fake Shiba Eternity account on X.

In this light, the Shiba Inu community is urged to always verify sources and connect to only official channels and people on social media.