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- Shiba Inu has taken a unanimous decision to stop all BONE farming after they reach the milestone of 230,000,000 (230 million) tokens.
- The BONE token, the Shiba Inu governance token, will be used in Shibarium’s layer-2 scaling solution as a native gas token.
- 20 million tokens will still be left, but those will be reserved as incentives for the validators
The Community Decision
In today’s world, two of the most promising meme coins are Dogecoin and Shiba Inu.
Shiba Inu is fully prepared to launch its metaverse, also known as the Shibaverse.
Users can access the whitepaper and the virtual walk-through the following.
Recently, Shiba Inu has taken a unanimous decision that is going to have a massive impact on the market, as well as on the token itself. The community has decided to stop all BONE farming after reaching the milestone of 230,000,000 (230 million) tokens.
Twenty million tokens will still be left, but those will be reserved as incentives for the validators. The community put this idea to a formal vote among the members, and 98% of the members showed support.
This vote was put by the decentralized autonomous organization, or DAO, specifically Doggy DAO.
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The Future Of Shiba Inu
The voters, alternatively, could have skyrocketed their tokens to 270 million in circulation.
The voting process was a somewhat longer process that took place around a week. The results of the vote are favorable because it was necessary for the growth of Shibarium, eventually Shiba Inu itself.
The BONE token, the Shiba Inu governance token, will be used in Shibarium’s layer-2 scaling solution as a native gas token.
When the validators confirm the transactions in any blockchain, they are rewarded by the coins or the tokens of the same cryptocurrency. In the world of Shiba Inu, the rewards are given in BONE.
Shiba Inu will launch the Shibarium’s layer-2 solution powered by the BONE token’s beta test debut during the third quarter of 2022.
One of the significant problems in cryptocurrencies across the world is scalability. This is one of the primary reasons why everyone is waiting for the Ethereum 2.0 launch. This is the exact reason people are waiting for the Shibarium’s layer two solutions, which aim to reduce the transaction costs that Shiba Inu charged significantly.
As of this writing, SHIB is trading at $0.000009775, down 2% in the previous 24 hours. BONE is trading at $0.06037 at the time, a 9.32 percent decrease from the last day.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
