Shiba Inu’s BONE Minting and Distribution of BONE Rewards on ShibaSwap Officially Concludes as BONE’s Current Supply Reaches 230 Million.
The Twitter handle of ShibaSwapDEX recently announced that the minting of Bone ShibaSwap, the Shiba Inu ecosystem governance token, officially ends as the total supply of BONE reaches 230 million. As a result, BONE Rewards on ShibaSwap has also come to an end.
The maximum supply for Bone ShibaSwap is set at 250 million. The remaining 20E tokens are designated for Shibarium validators.
🍖 Update: Due to BONE's current supply of just over 230 million, BONE minting has officially been halted.
The remaining approximately 20 million is designated for Shibarium validators.
The maximum supply of BONE is 250 million, and will always remain that way, for the token. https://t.co/ynGK7wJU9i
— ShibaSwapDEX (@ShibaSwapDEX) September 9, 2022
BONE minting has officially been halted, and BONE Rewards on ShibaSwap comes to an end as Bone ShibaSwap (BONE) now reaches a total supply cap of 230 million. No more BONE tokens will be minted from now onwards, except as rewards for Shibarium Validators.
It should be noted that Bone ShibaSwap was initially launched with a maximum supply limit of 250 million tokens. Since Bone ShibaSwap was selected to be utilized as ‘gas’ on the Shibarium Protocol, it is set to provide the necessary functionality to process/execute smart contracts and transactions on the Shibarium protocol.
Out of these 250 million tokens, through Doggy DAO, the Shiba Inu Community decided to stop BONE ShibaSwap rewards upon reaching 230 million so that Shiba Inu’s team can save the remaining 20 million minted token assets for Shibarium validators.
Please remember that Once the entire minting of 250M BONE tokens ends, a new ShibaSwap reward token named “TREAT” will be introduced, replacing BONE for rewards on ShibaSwap, as per the announcement released on July from the Shiba Inu lead, Shytoshi Kusama. However, not many details about the TREAT token have been known yet aside from its name and role in the Shiba ecosystem.
Follow Us on Twitter and Facebook.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.