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Shibarium Token BONE Sets New Record Before Beta Launch: Details

Tue, 01/17/2023 - 13:04
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Tomiwabold Olajide
BONE is impacted by optimism around Shibarium beta realease
Shibarium Token BONE Sets New Record Before Beta Launch: Details
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Shiba Inu's governance token and Shibarium's main token, BONE, have smashed a new record ahead of the upcoming Shibarium beta release. BONE is rapidly gaining holders and has set a new high in this regard.

BONE's holder count was 67,199 at press time. The optimism around the impending launch of the Layer 2 Shibarium beta has also impacted BONE's price. On Jan. 16, the Shiba Inu governance token was the top gainer among the major dog coins, with its price increasing by nearly 15%.

Shiba Inu's BONE Suddenly Jumps 13% to Outperform SHIB, Here's Why

At the time of writing, BONE was up 2.55% in the last 24 hours at $1.38.

Shibarium and BONE

Within the Shibarium protocol, BONE is the native token chosen to pay gas transactions and reward validators and delegators. BONE will be the token actively producing the operability of transactions in Shibarium, according to the Shiba Inu team.

Validators are crucial network participants in Shibarium who support operability security by operating the Heimdall Validator and Bor block production nodes and locking up a predetermined quantity of BONE tokens. One must stake BONE — a minimum of 10,000 tokens — to become a validator.

Shiba Inu (SHIB) Lead Dev Shares Fascinating Facts on Shibarium, Here's What To Know

Owners of BONE who opt to stake their tokens into validator nodes rather than running their validator nodes are known as delegators.

ShibaSwap DEX will be integrated into the platform for easier access to tools and functionalities, as well as to give users and validators/delegators quick access to all staking and liquidity pools, according to existing plans for the Shibarium mainnet launch.

Also, a "renewed" burn portal specifically developed for Shibarium is currently in development.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.