Last Updated on February 22, 2022 by Diana Kelley
The crypto world is constantly developing, so do crypto coins and their use cases. We always hear about the Shiba Inu coin and its family of tokens, meaning BONE and LEASH. Most crypto enthusiasts and crypto platforms undervalue those tokens, but maybe they are just barking up the wrong tree? The powerful trio of SHIB, BONE, and LEASH has a lot to show you! Today we will look into how the Bone ShibaSwap token can make your crypto experience even better. Let’s dig in right now 😉
Table of Contents
- What is Bone ShibaSwap (BONE)?
- What is BONE used for?
- What are some other ways to use BONE?
- Final Thoughts
What is Bone ShibaSwap (BONE)?
Bone ShibaSwap token (BONE) is a governance token of the ShibaSwap system that allows the Shib Community a.k.a #SHIBArmy to vote on upcoming proposals on Doggy DAO. What’s important is that the more BONE you hold, the more weight your vote carries! Although be careful since Bone ShibaSwap has a limited supply of 250 000 000 tokens, unlike Shiba Inu coin.
BONE is also said to fit between SHIB and LEASH perfectly in terms of its limited circulation supply, making it somewhat of a “golden middle” among the three tokens.
At the moment of writing this article, the price of BONE is $0.580571. Around 5 months ago (August 2021) it reached its All-Time High of $41.67. This is the reason why we want to make emphasis on this token: it has so much potential for growth!
What is BONE used for?
First of all, the whole Shiba Inu ecosystem is quite unique. For example, in order for you to provide liquidity to earn the Bone ShibaSwap token, you need to “Dig” the BONES from under the ground like some real bones that offline dogs can dig out.
Or, another thing to do in the ShibaSwap is to try staking, which is labeled as “Burying” tokens, which is also one of the most favorite activities for the Shiba Inu breed in real life. Burying BONE earns the user a certain amount of tBONE. WOOF!
All in all, tBONE is something that the user receives when burying BONE tokens. With the “BURY” feature the holder obtains the right to be part of a pool that provides its members 1% of all the BONE per block. What’s more, “DIG”, in this case, is similar to the function for the LEASH tokens. The person who is “digging” or who is one of the liquidity providers receives a share of the BONE-ETH SSLP.
Another curious thing to learn is that the Shiba Inu core team is currently working on creating the Shibarium – a special layer-2 blockchain solution for all its tokens in the ecosystem. The reason behind it is very simple – the Ethereum gas fees. Shibarium is more likely to be the second layer on the existing Ethereum blockchain instead of a completely new one. We’re sure that #SHIBArmy will be like a dog with two tails once the project is fully launched. By the way, rumor has it that this will happen in mid-2022 already! How is this about the Bone ShibaSwap? Very simple: BONE is going to become the main token pair.
This decision about BONE being the main token was taken to give everyone a fair start since there are some Whale Wallets with accumulated SHIB, which may be the reason for many concerns if used as main on Shibarium. However, if you are worried about BONE, the good news is that LEASH and SHIB holders can use their holdings to yield BONE tokens on ShibaSwap.
We wish BONE token a very bright future! We’ll be very glad to welcome all the Shiba Inu token family members to the CoinRabbit platform so as to provide better crypto adoption for our dear friends!
What are some other ways to use BONE?
If you happen to be a Shiba Inu ecosystem fan and supporter, you’ll be glad to hear about some more potential use cases of your BONE.
Case #1
Being a part of #SHIBArmy, you 100% heard about burning. Sometimes it is hard to say goodbye to your favorite coin, even to help fight inflation! This is why with BONE used as collateral, for example, on CoinRabbit, you can still participate in burning SHIB, but leave the rest of your favorite coins safe with you and HODL further.
Case #2
Another use case for BONE might be the next one: you can take out a loan (SHIB loan on CoinRabbit, for example) and use the released funds to buy more BONE and stake them on ShibaSwap. This way you can make the most profit on your BONE token!
Case #3
If you love SHIB as much as we do, but can’t use it in real life? Have you heard this special news? This partnership with Welly’s means that SHIB adoption is going well! Would you like the case of taking out a BONE loan to buy more SHIB and spend it for some usual needs such as buying food? We would love to see that happen ASAP!
Taking crypto-backed loans at CoinRabbit has more different opportunities and provides wider adoption of the currency. Here are some capabilities:
- Unlock the value of your holdings without selling or switching to other currencies
- Get more BONE by collateralizing your current holdings
- Spend received loans whatever you want. Let it be daily purchases or reinvestments
- No time frames. Repay the loan whenever you want, let it be in 1 year or in 1 month
- The APR is 14%
- No KYC required
- You only need your phone number to get the funds
- 24/7 customer support is always at your back
Final Thoughts
As you can see, BONE is gaining momentum, and everything is in your hands! Unveil its true force and make the best use of your Bone ShibaSwap token with us.
If you like any of these use cases, please do not hesitate to contact us, join our Telegram group to let us know whether we should add BONE and LEASH as our collaterals! Let’s make SHIB, BONE, and LEASH a full happy family on CoinRabbit, WOOF!
Not financial advice. Do your own research and take everything moderately. Crypto-backed loans have their own risks that should be taken respectively.
