The Shiba Inu community has supported the project and its developers such as Shytoshi Kusama, despite the fact that the launch of the layer-2 blockchain solution Shibarium has been delayed since last year. Shibarium offers the benefits of scalability, faster transaction times, lower costs and a comprehensive development framework.
As developers and the official Twitter handle of the Shiba Inu ecosystem hint at a possible launch of Shibarium Beta this quarter, the community has another major problem ahead of it. It is the listing of Bone ShibaSwap (BONE) token by the crypto exchange Binance.
When will Binance mention BONE?
In its official Shibarium blog, the Shiba Inu team has confirmed that BONE will be the sole gas token for Shibarium transactions and a reward token for validators and delegators. The BONE token has been available for governance since July 2021 and now for Shibarium. But it has not been listed by the world’s largest crypto exchange Binance.
After the launch of Shibarium, BONE will be the main token. In fact, validators will lock down a certain number of BONE tokens to provide security and stake BONE by staking management contracts on the Ethereum mainnet. In addition, delegators will deploy BONE in validation nodes responsible for validating transactions. So, most things around the Shibarium blockchain involve the BONE token.
Shibarium transactions will also burn the Shiba Inu Token (SHIB) and help increase the burn rate for SHIB. Despite so many uses of the BONE token, Binance has not listed the token even in its “innovation zone”. To place BONE in the “innovation zone”, a founder must submit a listing application form. However, the identity of Shiba Inu founder Ryoshi is still a mystery. So if lead developer Shytoshi Kusama could submit the application to Binance?
Community files petition amid FUD
The community has taken matters into their own hands and started a Change.org petition to list BONE on Binance. ShibArmy or previous community petitions such as PayPal to accept SHIB as payment and Robinhood to list SHIB were successful. Only time will tell if the community will be successful this time or not.
Unification developer update reveals that the Shibarium Beta launch is likely to take place in the first quarter as the team finishes testing Oracles of Oracle (OoO) for the Shibarium Layer-2 blockchain.
The recent Bonk Inu (BONK) hype forced many top crypto exchanges to list the token, but it is not listed on Binance. Will the BONE token from the Shiba Inu ecosystem take Binance or fail to attract the exchange to list BONE token? It remains a major problem for the community ahead of Shibarium’s launch. No doubt the listing will be huge news to the community and push the token on a bull run.
BONE price is currently trading at $1.95, up 34% in the last 24 hours, supported by a 240% increase in trading volume.
Also Read: Bone ShibaSwap (BONE) To Be In The Top 100? SHIB community bullish
Varinder is a technical writer and editor, technology enthusiast and analytical thinker. Fascinated by disruptive technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for quite some time and is currently covering all the latest updates and developments in the crypto industry.
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