Bone ShibaSwap (BONE) Lands on Poloniex: What This Means for Shiba Inu Investors and Shibarium

Exciting news for the Shiba Inu community! Bone ShibaSwap (BONE), a key player in the SHIB ecosystem, has just been listed on Poloniex, a major cryptocurrency exchange backed by none other than Justin Sun of TRON fame. This listing isn’t just another tick on the exchange list; it’s a significant step forward for BONE and the entire Shiba Inu ecosystem, especially with the highly anticipated Shibarium launch on the horizon. Let’s dive into what this means for investors and the future of SHIB!

Why is the Poloniex Listing a Big Deal for Bone ShibaSwap (BONE)?

The listing of BONE on Poloniex is more than just adding another exchange to its roster. Here’s why it’s making waves:

• Increased Accessibility: Poloniex is a well-established exchange, and this listing opens up BONE to a wider pool of investors. More investors mean increased liquidity and potentially greater demand for BONE.
• Justin Sun’s Backing: Poloniex is supported by Justin Sun, a prominent figure in the crypto world known for TRON. This association can bring added credibility and attention to BONE.
• Strategic Timing: This listing comes right before the expected launch of Shibarium, Shiba Inu’s layer-2 scaling solution. It’s perfectly timed to build momentum and awareness around BONE’s crucial role in Shibarium.

BONE: The Powerhouse of the Shiba Inu Ecosystem

For those new to the Shiba Inu universe, BONE isn’t just another meme coin. It’s a utility token with significant roles within the ecosystem. Let’s break down its key functions:

1. Gas Fees on Shibarium

Shibarium, Shiba Inu’s layer-2 solution built on Ethereum, is designed to alleviate the high gas fees and transaction congestion on the Ethereum mainnet. Guess what powers transactions on Shibarium? You guessed it – BONE! According to Poloniex’s announcement, BONE will be the designated token for paying gas fees on Shibarium. This is a fundamental utility that directly ties BONE to the functionality and success of Shibarium.

2. Governance Token for Doggy DAO

Decentralization is at the heart of crypto, and Shiba Inu embraces this through its Decentralized Autonomous Organization (DAO), known as Doggy DAO. BONE holders are empowered to participate in the governance of the ShibaSwap platform through Doggy DAO. As Coinbase rightly points out, BONE is a “governance token that aims to allow the Shiba users to vote on the upcoming proposal on Doggy DAO.” This gives BONE holders a voice in the future direction of the ShibaSwap ecosystem.

3. Liquidity and Staking on ShibaSwap

ShibaSwap, the decentralized exchange (DEX) of the Shiba Inu ecosystem, is where BONE truly shines. Here’s how:

• Liquidity Provision: Users can provide liquidity to ShibaSwap using ERC20 tokens, including BONE. By adding liquidity, BONE holders can earn rewards.
• Staking: BONE holders can stake their tokens on ShibaSwap to earn passive income. This further incentivizes holding and supporting the ecosystem.

Essentially, BONE is deeply integrated into ShibaSwap, fostering a vibrant and functional decentralized finance (DeFi) environment within the Shiba Inu ecosystem.

Shibarium: The Layer-2 Game Changer

Shibarium is arguably the most anticipated development in the Shiba Inu ecosystem. Why all the hype?

• Scalability Solution: Shibarium is designed to significantly improve transaction speed and reduce costs compared to transacting directly on the Ethereum mainnet. This addresses a major pain point for many users.
• Reduced Gas Fees: By processing transactions on its own chain and using BONE for gas fees, Shibarium aims to offer drastically lower transaction costs, making the Shiba Inu ecosystem more accessible and user-friendly.
• SHIB Burning Mechanism: Interestingly, Shibarium is designed to burn SHIB tokens with each transaction. As stated by the developers, “every transaction on it uses BONE to pay for gas taxes and burns SHIB to make it more rare.” This burn mechanism could potentially reduce the circulating supply of SHIB over time, potentially impacting its value.
• Ethereum Interoperability: Shibarium is built as an Ethereum layer-2 solution, meaning it works in conjunction with Ethereum. This allows for leveraging the security and network effects of Ethereum while enjoying the benefits of a faster and cheaper chain.

The upcoming launch of Shibarium is a pivotal moment for the Shiba Inu ecosystem, and BONE is positioned at the very heart of it.

BONE’s Price Surge and Top 100 Ranking

It’s no surprise that BONE has been gaining traction in the market. As CryptoGlobe reported, BONE has broken into the top 100 cryptocurrencies by market capitalization. This growth is likely fueled by:

• Shibarium Anticipation: The excitement surrounding Shibarium and BONE’s central role in it is a major driver.
• Utility and Demand: BONE’s utility within the Shiba Inu ecosystem, particularly for gas fees on Shibarium and governance, creates intrinsic demand.
• Poloniex Listing Effect: The Poloniex listing itself can contribute to price appreciation by increasing accessibility and investor interest.

What Does This Mean for Shiba Inu Investors?

The Poloniex listing of BONE, coupled with the impending launch of Shibarium, presents several potential opportunities for Shiba Inu investors:

• Increased BONE Utility: As Shibarium adoption grows, the demand for BONE for gas fees is likely to increase, potentially driving its value.
• Governance Participation: Holding BONE allows users to participate in the Doggy DAO and influence the future of the ShibaSwap platform.
• Staking and Liquidity Rewards: BONE holders can earn rewards through staking and liquidity provision on ShibaSwap.
• Ecosystem Growth: The success of Shibarium and BONE contributes to the overall growth and development of the Shiba Inu ecosystem, potentially benefiting all tokens within it, including SHIB and LEASH.

Looking Ahead

The listing of Bone ShibaSwap (BONE) on Poloniex is a significant milestone for the Shiba Inu ecosystem. It underscores the growing importance of BONE as a utility and governance token. As Shibarium’s launch approaches, all eyes will be on BONE and its performance. For investors and enthusiasts, keeping a close watch on BONE and Shibarium developments is definitely recommended. This is shaping up to be a transformative period for the Shiba Inu project and its dedicated community.