SHIBARIUM: BONE Token Developers to Renounce Contract Address Ownership

SHIBARIUM: BONE Token Developers to Renounce Contract Address Ownership

After its launch, Shibarium, the Ethereum-based- Layer 2 scaling solution, has seen massive success. To stamp this success, there has been a whole new series of updates over the weekend being teased by core team members.

The latest update featured the upcoming plans for Bone Shibaswap (BONE).

BONE is an integral part of the innovative reward system offered by ShibaSwap, a decentralized exchange (DEX) provided by the Shiba token. This meme token evolved into an ecosystem.

Bone ShibaSwap (BONE) is the native governance token of the ShibaSwap ecosystem, facilitating Shib Army members’ participation in Doggy DAO voting. The more tokens a user possesses, the greater their influence on the ecosystem’s development.

BONE forms the foundation of Shibarium—a community-owned scalable L2 blockchain operating on Ethereum. Within this protocol, BONE is used for gas payments and to reward validators and delegators.

A Major Change in Shibarium Evolution

According to a significant Shiba Inu developer, Kaal Dhairya, BONE’s contact address is billed to be revoked in due course.

However, he did not detail the reasons for this move. The community is taking this as a creation of a new contact address, which may better match to the current manner state of Shibarium.

The potentially new smart contract address is poised to be compatible with the smart contract of Shibarium itself.

In addition to revoking the contact address, Dhairya has hinted at adding more validators to the network.

Adding these validators is essential as it will help secure the Shibarium protocol and enrich the entire Shiba Inu ecosystem.

Such different plans set for BONE are crucial, with its prospect seeing some positive moves, characterized by its pivotal role, assuming a governance channel to allow for innovations and set a pace for the community.

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