Friday, October 7

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.

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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.

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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.

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