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Here's Why BONE Was Made in First Place – Team Member Reveals Ryoshi's Initial Plan

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Wed, 8/05/2024 - 11:47
Here's Why BONE Was Made in First Place – Team Member Reveals Ryoshi's Initial Plan
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The official Shiba Inu marketing lead, who refers to herself as Lucie, has shared with the SHIB community why the mysterious SHIB founder Ryoshi wanted to create BONE token in the first place. However, this initial plan was changed later on for the sake of a more practical goal.

Here's why BONE was created

Lucie tweeted that initially the goal of creating BONE token was to issue rewards to SHIB holders. However, later, the goal was changed to facilitate SHIB burns using the layer-2 solution Shibarium. Lucie did not share whether this decision was made before or after Ryoshi’s departure from the project. The latter took place in May 2022.

Now BONE tokens power transactions on Shibarium, serving as a means for paying gas fees. A portion of these fees was set aside for developers to continue maintaining the network, and the other part converted into SHIB and then moved to unspendable wallets to be burned. Lucie emphasized that it is important that each token play its own role in the Shibarium ecosystem.

Related

Lucie likens SHIB to BTC

In another recently published tweet, Lucie again tackled complaints about “slow SHIB burns” and the developer team not contributing to them at the moment. The SHIB marketing lead said that there is no centralized authority standing behind Shiba Inu, and in this regard, this meme coin is similar to Bitcoin, the original cryptocurrency created by the mysterious Satoshi Nakamoto.

Lucie reminded the community that the team cannot burn SHIB at will; Ryoshi destroyed his own burn keys and “handed the vision to Shytoshi” Kusama.

The point of creating SHIB was to let other developers build their products and dApps around Shiba Inu. Therefore, Lucie stated, those who want more SHIB meme coins to be burned need to create tools with high utility. In that case, BONE will be earned by the team, which they will later convert into SHIB and burn.

She added that “no one can stop you because, just like around BTC, EVERYONE can build around SHIB.” But building on SHIB costs “a lot of money, focus, and persistence.”

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