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Bone ShibaSwap (BONE) is the governance token of the ShibaSwap decentralized exchange (DEX) within the Shiba Inu ecosystem. It allows users to vote on proposals through the Doggy DAO, earn rewards by staking or providing liquidity, and participate in community events. BONE is used to fund liquidity pools and can be bought, sold, and traded on exchanges.
Bone ShibaSwap (BONE) is used in several ways within the ShibaSwap decentralized exchange (DEX):
Liquidity Provision: BONE is used to help fund liquidity pools on the ShibaSwap DEX, allowing users to provide liquidity and earn rewards.
Governance: Holders of BONE tokens have the right to vote on changes to the network, making it a governance token. The more BONE tokens a user holds, the more significant their votes are.
Staking: BONE can be staked, or set aside, in return for rewards. This incentivizes users to participate in the network and maintain liquidity.
- Trading: BONE can be bought, sold, and traded on exchanges, allowing users to access the token and participate in the ShibaSwap ecosystem.
Overall, BONE plays a crucial role in facilitating the functioning and governance of the ShibaSwap DEX, which primarily caters to Shiba Inu (SHIB) holders.
To store Bone ShibaSwap (BONE) tokens securely, you will need a cryptocurrency wallet that is compatible with ERC-20 tokens, as BONE is built on the Ethereum network. Some commonly used solutions include:
Software Wallets:
- MetaMask: Offers an easy-to-use interface and the ability to interact directly with decentralized applications (dApps) like ShibaSwap.
- Trust Wallet: Provides a user-friendly interface and supports a wide range of cryptocurrencies, including ERC-20 tokens like BONE.
Hardware Wallets:
- Trezor: Offers an added layer of security by storing your private keys offline, making them less susceptible to hacking attempts.
- Ledger: Supports a wide variety of cryptocurrencies, including ERC-20 tokens like BONE, and provides offline storage for enhanced security.
Regardless of the wallet you choose, it is crucial to keep your private keys and backup phrases safe and secure, as these are the only ways to access your funds if you lose access to your wallet.
To buy Bone ShibaSwap (BONE) tokens, follow these steps:
Choose a Reliable Exchange:
- Select a trustworthy and reliable cryptocurrency exchange that supports BONE purchases. Popular options include CoinEx, OKX, gate.io, MEXC, and KuCoin.
Create an Account:
- Register on the chosen exchange by providing the required personal information and setting a secure password. Enable two-factor authentication (2FA) for added security.
Verify Your Identity:
- Complete Know-Your-Customer (KYC) verification to increase withdrawal limits and unlock additional features. The required information may vary based on your nationality and region.
Add a Payment Method:
- Add a supported payment method such as a credit/debit card, bank account, or other options. The specific requirements may vary depending on your bank's security policies.
Buy BONE:
- Use your added payment method to purchase BONE tokens. You can either buy directly with fiat currency if supported or first purchase a popular cryptocurrency like USDT and then exchange it for BONE.
Store Your BONE:
- Ensure you have a secure crypto wallet to store your purchased BONE tokens. You can use the exchange's built-in wallet or a third-party wallet like Trust Wallet.
- Monitor Your Investment:
- Keep track of your BONE investment's performance and adjust your strategy as needed.
Remember to always research the exchange, fees, and security features before making a purchase, and be mindful of market risks and price volatility.
Bone ShibaSwap (BONE) is a cryptocurrency with a history marked by significant highs and lows. The coin's price has been erratic, reflecting the volatility of the cryptocurrency market.
All-Time High (ATH)Bone ShibaSwap reached its all-time high (ATH) in November 2021, with a price of $3.26.
Recent PerformanceAs of June 2024, the live price of Bone ShibaSwap is $0.5756 USD, with a 24-hour trading volume of $6,124,854.43 USD. The coin has seen a 9.41% increase since the start of 2024, but is predicted to decrease by 67.67% by the end of the year.
Historical DataHistorical data for Bone ShibaSwap is available in various time intervals, including daily, weekly, and monthly views. This data includes open, high, low, and close prices, as well as trading volume and market capitalization. The data can be accessed through various platforms, such as CoinMarketCap, Investing.com, and CoinCodex, which provide detailed historical price data and charts.
Market TrendsThe market trends for Bone ShibaSwap reflect the broader trends in the cryptocurrency market. The coin's price is influenced by factors such as trading volume, market capitalization, and overall market sentiment.
Bone ShibaSwap (BONE) is a decentralized finance (DeFi) token that operates on the ShibaSwap platform. Here's a detailed overview of how it works:
Staking and RewardsBONE is primarily used for staking, which allows users to generate yield in the form of BONE tokens. The staking function, called "BURY," enables users to stake their SHIB, BONE, and LEASH tokens to earn rewards. The rewards are distributed bi-weekly and are based on a percentage of the total BONE minted per day.
Bone APY CalculationThe Annual Percentage Yield (APY) for BONE is calculated based on the entire Bury Pool. The Bury Pool receives 3% of the total BONE minted daily, which is then distributed to users based on their percentage of the pool. This means that the APY is not directly related to the value of BONE but rather to the percentage of BONE per block minted.
Governance and LiquidityBONE tokens also serve as a governance token, allowing holders to vote on changes to the ShibaSwap network. Additionally, BONE can be used to provide liquidity to the platform, which helps facilitate trading and swapping services.
Trading and CirculationBONE can be bought, sold, and traded on exchanges. As of February 19, 2024, there were approximately 229 million BONE in circulation out of a total supply of 230 million.
Price PredictionsPrice predictions for BONE vary, with some forecasts suggesting it could reach $1.18 in 2024, $1.48 in 2025, and $4.34 in 2030. However, these predictions should be taken with caution as they are subject to market volatility and can change over time.
ShibaSwap PlatformShibaSwap is a decentralized exchange (DEX) built on the Ethereum blockchain. It provides staking and swapping services primarily catering to Shiba Inu (SHIB) holders. The platform aims to add liquidity to the pool and supports non-fungible tokens (NFTs).
In summary, BONE is a crucial component of the ShibaSwap ecosystem, facilitating staking, governance, and liquidity provision. Its value is influenced by various market factors, and its price predictions are subject to change over time.
Bone ShibaSwap (BONE) has several strengths that contribute to its appeal and potential for growth:
Governance Token: BONE is the governance token of the ShibaSwap platform, allowing holders to vote on changes to the network, ensuring a level of community involvement and control.
High Interest Yields: The "Bury" function on ShibaSwap allows users to stake their BONE tokens at high interest yields, providing a strong incentive for users to participate in the platform.
Liquidity Provision: BONE is used to fund liquidity pools on the decentralized exchange, which helps maintain the platform's functionality and liquidity.
Staking Rewards: Users who stake their BONE tokens receive rewards in the form of additional BONE tokens, which can lead to significant returns over time, especially if the token's value increases.
Strong Community: As part of the Shiba Inu ecosystem, BONE benefits from the large and active community supporting the Shiba Inu memecoin, which can drive adoption and trading activity.
Competitive Advantage: ShibaSwap's unique fee and incentive structure, as well as its native tokens, differentiate it from other decentralized exchanges, such as SushiSwap, and provide a competitive edge.
These strengths collectively contribute to BONE's potential for growth and its appeal to users and investors.
Bone ShibaSwap (BONE) is associated with several risks. These include:
Volatility Risk: BONE's value can fluctuate significantly, leading to potential losses for investors.
Liquidity Risk: The liquidity of BONE can be low, making it difficult to buy or sell the token quickly and at a stable price.
Short History Risk: BONE has a relatively short history, which can make it harder to predict its future performance.
Demand Risk: The demand for BONE is influenced by the popularity of the Shiba Inu ecosystem and the adoption of the ShibaSwap platform.
Forking Risk: BONE is susceptible to forking, which can lead to the creation of new tokens and potentially impact its value.
Code Defects: BONE's code can contain defects that can be exploited, leading to security issues.
Regulatory Risk: Changes in regulations can negatively impact the use and value of BONE.
Electronic Trading Risk: Technical issues with trading platforms can affect the ability to buy or sell BONE.
Cybersecurity Risk: BONE is vulnerable to cyber attacks, which can result in the theft or loss of tokens.
Competition Risk: The decentralized exchange (DEX) space is highly competitive, and ShibaSwap's success is dependent on its ability to attract users and liquidity.
Community Risk: The success of BONE is tied to the strength and engagement of the Shiba Inu community.
Risk of Unclaimed Rewards: Users may face issues with claiming and utilizing their BONE rewards, which can lead to frustration and potential losses.
- Risk of Market Manipulation: BONE's price can be influenced by market manipulation due to its relatively low liquidity and market capitalization.
These risks highlight the importance of thorough research and risk assessment before investing in BONE or any other cryptocurrency.
- Ryoshi: The anonymous founder of Shiba Inu (SHIB) who established the Bone ShibaSwap project.
- Lucie: The marketing lead for Shiba Inu (SHIB) who has shared insights into the creation and purpose of BONE, including its initial intention to reward SHIB holders and its later repurposing to facilitate SHIB burns on Shibarium.
- Shytoshi Kusama: The lead developer and visionary behind the Shiba Inu project, who expressed optimism about the future trajectory of ShibaSwap following its integration with Shibarium.
- Kaal: The pseudonymous head developer of the Shiba Inu development team, who reassured the community of the team’s ongoing commitment to the project’s development and improvement.