BONE

Overview of BONE

Bone ShibaSwap (BONE), launched in 2021, is the native governance token of the ShibaSwap decentralized exchange (DEX), a core part of the Shiba Inu ecosystem. Built on the Ethereum blockchain, BONE empowers holders to vote on proposals shaping the DEX's future, like fee structures and new features. With a limited max supply of 250 million, BONE also offers rewards for staking and providing liquidity on ShibaSwap.

Currently listed on major exchanges like Binance and Coinbase, BONE can be stored in various wallets like MetaMask and Trust Wallet. While not specifically focused on NFTs, fan tokens, or games, BONE plays a crucial role in the DeFi (decentralized finance) aspect of the Shiba ecosystem, allowing community members to actively participate in shaping the platform's direction.

Pros and Cons

What Makes BONE Unique？

The Bone ShibaSwap exhibits innovation by its association with ShibaSwap, a decentralized cryptocurrency exchange. As an integral part of the unique DeFi ecosystem built by the ShibaSwap development team, BONE token serves as one of the three native tokens in the platform. It is used as the primary governance token, offering voting rights on proposals to those holding it in the ecosystem.

This differentiates BONE from other cryptocurrencies, as not all cryptocurrencies offer governance rights to the token holders, especially those not associated with DeFi platforms. Moreover, many cryptocurrencies are standalone assets without a specific ecosystem integrated around them, while BONE is tightly tied into the ShibaSwap platform, adding to its unique character.

How Does BONE Work？

The BONE operates primarily within the ecosystem of ShibaSwap, a decentralized exchange platform, where it functions as a governance token. This allows BONE holders to propose changes and vote on proposals regarding the platform's operational aspects.

In terms of trading, like other cryptocurrencies, BONE operates on blockchain technology. Blockchain is a decentralized ledger; transactions with the BONE are stored on this ledger across multiple nodes or computers. This ensures transparency and security as transaction details cannot be manipulated due to the decentralized nature of the system.

Exchanges to Buy BONE

To buy BONE tokens, you have several options available across various exchanges. Some of the exchanges where you can purchase BONE include Crypto.com, OKX, gate.io, MEXC, and Indodax.

How to Store BONE？

Storing BONE tokens can be done using Ethereum-compatible wallets since BONE is an ERC-20 token. For the highest level of security, consider using a hardware wallet like Ledger Nano S or Trezor, which are known for their robust safety features and support a variety of cryptographic assets, including ERC-20 tokens . For more convenient access, you can opt for a software wallet such as Exodus, Coinomi, MetaMask, Trust Wallet, or imToken, which are available across multiple platforms including desktop, iOS, and Android, and offer free storage solutions for a wide range of cryptocurrencies .

Is It Safe？

The safety of investing in Bone ShibaSwap (BONE) depends on various factors, including the security measures employed by the project, the exchanges where it is traded, and the overall security practices of individual investors.

BONE boasts robust security features through its compatibility with hardware wallets such as Ledger and Trezor. These hardware wallets offer an elevated level of security by keeping private keys offline, mitigating the risk of unauthorized access or hacking attempts.

How to Earn BONE Coins？

Staking (BURY): You can stake your SHIB, LEASH, or BONE tokens in the ShibaSwap BURY pools to earn a pre-determined APY. The rewards are paid in the wrapped version of the staked tokens, such as xLEASH for LEASH staked 。

Liquidity Provision (DIG): By providing liquidity to ShibaSwap's pools, you can earn a portion of the trading fees as rewards. These rewards are paid in the form of Shiba Swap Liquidity Provider (SSLP) tokens, which can be exchanged for BONE tokens 。

Yield Farming (WOOF): SSLP token holders can stake their tokens in ShibaSwap's yield farm pools to earn additional BONE rewards. This process is similar to staking, with a portion of the rewards available immediately and the rest vested over time 。

Arbitrage Trading: BONE's price can fluctuate on different exchanges, offering opportunities for arbitrage trading to earn more BONE by buying low and selling high 。

Staking on Bitget: You can also earn profits by staking or lending BONE on the Bitget Earn platform, which offers various financial products to help increase your income from BONE 。