As the highly-anticipated mainnet launch of Shibarium approaches, the Shiba Inu development team is making essential preparations to ensure a smooth rollout. In the latest update by Shytoshi Kusama, the founder of Shiba Inu, there is speculation that Binance, the world’s largest crypto exchange, may finally list the ecosystem’s top token, BONE.
We are gearing up to launch Shibarium! Read about it in our blog: Bone: The Passport to Shibarium https://t.co/OGpAU8c1Yx
— Shytoshi Kusama™ (@ShytoshiKusama) July 31, 2023
Reason for the delay in BONE listing By Binance Stated
BONE holds a critical position in the Shiba Inu ecosystem, serving as the governance token for ShibaSwap and the designated gas token for Shibarium. Despite its significance, BONE has not yet been listed on the top five trading platforms, including Binance.
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One reason cited for the delay in BONE’s listing on leading exchanges is the non-renunciation of the BONE contract. However, to address these concerns, SHIB ecosystem official Ragnar revealed that BONE secured listings on six exchanges in April alone. It’s possible that the major exchanges are closely monitoring the performance of Puppynet and the upcoming deployment of Shibarium’s mainnet before proceeding with the listing.
Shiba Inu team to mint the remaining Supply of BONE and renounce the BONE contract
To further reinforce the token’s legitimacy, Kusama emphasized in a recent Medium post that the team will mint the remaining supply of BONE and renounce the BONE contract. Renouncing the contract means that the token issuer will relinquish ownership and control, ensuring that no further minting of BONE will be possible. This move is expected to demonstrate transparency and decentralization, a crucial factor for exchanges like Binance.
Community members have expressed optimism regarding BONE’s potential listing on Binance, especially after the exchange enabled price tracking for the Shiba Inu ecosystem token back in June. However, it’s important to note that Binance has not made an official statement regarding the listing at this time.
As the Shiba Inu development team progresses with the Shibarium mainnet launch and the renouncement of the BONE contract, cryptocurrency enthusiasts and investors eagerly await the possibility of BONE being listed on Binance. If the token receives the green light for listing on the world’s largest crypto exchange, it could potentially open up new avenues for BONE’s liquidity and exposure, further strengthening its position in the ever-growing Shiba Inu ecosystem. Community members and investors will be closely monitoring the situation in the coming days for any official announcements from Binance or the Shiba Inu team.