Shiba Inu: Shibarium Team to “Renounce” BONE Contract

Lavina Daryanani
Source: NewsBTC

The lead developer of Shiba Inu, Shytoshi Kusama, recently posted that the team was gearing up to launch Shibarium. He asserted that Shiba Inu is ”sprinting” to the ”next paradigm shift,” marking the beginning of a new era. A parallelly released blog post detailed the upcoming course of action. With respect to BONE mints, Kusama wrote,

”In the next few days, we will MINT THE REMAINING SUPPLY OF BONE and RENOUNCE THE BONE CONTRACT so that no further minting will be possible.”

Also Read: Shiba Inu: Will Elon Musk Attend Shibarium’s Launch Event?

BONE to Serve as ‘The Passport’ to Shibarium

The lead developer pointed out that the mint and the subsequent renouncement was a ”necessary” step because a significant portion of BONE is allocated to validators. Bone will also serve as users’ ”passport” to Shibarium. Typically, it will have three roles to play. One, it will be the token that delegators ”bury” to get a portion of rewards. Two, it will serve as the ”gas” token for Shibarium. Three, it will foster technology ”governance” within the new system.

Shiba Inu’s lead developer pointed out that SHIB’s meteoric rise to the top 20 status in the crypto space is a testament to the ”power of community,” and the ”power of decentralization.” Elaborating how Shibarium could be a game-changer, Kusama wrote,

”This isn’t just about following the path of decentralization; this is about trailblazing a new destiny.”

Shibarium is slated for release at the Blockchain Futurist Conference. The event is scheduled to take place on August 15 and 16 in Toronto, Canada. Shiba Inu has secured the title sponsorship at the Blockchain Futurist Conference, ETHWomen, and the ETHToronto hackathons. Kusama pointed out that this level of sponsorship puts Shiba Inu ”in line” with major exchanges and projects, strengthening its position as a key player in the crypto industry.

Also Read: Shiba Inu Forecasted To Rise 300% & Reach $0.00003: Here’s When