Shiba Inu Announces Bone Farming Proposal and In Favor Of Halting Bone Farming Once Reach 230 Million
The just-concluded voting in the Shiba Inu community has really favored the farming of the only 230 million tokens as the remaining 20 million are reserved for the validators.
As reported by cryptolifedigital, to reserve 20 million for the validators and maintenance of the Shibarium was given two options; either the Bone farming should stop on reaching the 230 million or the fixed supply should be extended to a total of 270 million tokens.
Read Also: Terra USTC Returns To The Top 100 Crypto As It Spikes Almost 400% In The Last 24 Hours
The reserve of 20 million was favored by 97.88% vote while the minting of another 20 million Bone token has 2.12% vote.
The vote, which took a whole week will play an important role in the growth of Shibarium. Bone as the governance token will be used as the native gas token by the longing Layer 2scaling solution, it will be used to do transactions on top of the blockchain.
Three weeks ago, over 191.51 million Shiba Inu (SHIB) burnt within the past 24 hours and 1.10 billion in the past 7 days. 1,159 Bone ShibaSwap (BONE) has also been destroyed by one of the Community-led Burning Projects.
Read Also: Grayscale CEO Expresses Optimism As The 240-Day Application Review Process With SEC Is Approaching.
The medium blog revealed four days ago, that the Unification Foundation, which is behind the development of the Shibarium, the Shiba Inu’s Layer 2 solution.
It was made known that the Shiabrium Private Alpha TestNet has been released a few weeks ago and it was successful. The main goal and focus of the team are on how the Shibarium will be developed internally.
Cryptolifedigital is a cryptocurrency blogger and analyst known for providing insightful analysis and commentary on the ever-changing digital currency landscape. With a keen eye for market trends and a deep understanding of blockchain technology, Cryptolifedigital helps readers navigate the complexities of the crypto world, making informed investment decisions. Whether you’re a seasoned investor or just starting out, Cryptolifedigital’s analysis offers valuable insights into the world of cryptocurrency.
