Shiba Inu (SHIB) Developer Warns Community Against Trading Calcium Token Amidst Concerns of Counterfeits
In a recent turn of events, Kaal Dhairya, a developer closely associated with the Shiba Inu (SHIB) cryptocurrency ecosystem, has issued a stern warning to the SHIB community regarding the trading of the newly introduced Calcium token. This cautionary message comes in response to growing concerns that some uninformed community members may be engaging in trading activities involving the token, potentially falling victim to counterfeit versions in an attempt to profit.
Shiba Inu Development Team Clarifies the Use of Calcium Token in Renouncing BONE
The backstory to this warning stems from the Shiba Inu development team’s release of a blog post on September 16, unveiling the intricate process of renouncing the contract of Bone ShibaSwap (BONE). BONE is the governance token of the ShibaSwap decentralized exchange (DEX) and also serves as the gas token for Shibarium, the ecosystem’s blockchain.
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The community had persistently urged the development team to renounce the BONE contract, and in response, the blog post detailed the steps involved in minting the remaining BONE supply and renouncing the contract. Central to this process is the Calcium token, which the team intends to use for minting and renunciation purposes. However, it is crucial to note that, as stated in the blog post, Calcium is merely a dummy token devoid of actual liquidity, and it should not be traded.
Despite this explicit warning, reports have emerged of community members attempting to trade the token, resulting in significant financial losses for some. In response to these developments, Kaal Dhairya posted an update reiterating the fact that Calcium is unequivocally not meant for trading.
https://twitter.com/kaaldhairya/status/1704992377453097363
Dhairya shared a screenshot of the blog post that had initially cautioned users against trading the token and emphasized that Calcium will have no future utility or value. Furthermore, it was clarified that anyone attempting to sell this token is likely seeking to deceive unsuspecting investors. Kaal Dhairya confirmed that Calcium possesses no real liquidity and dismissed circulating claims of substantial losses as unfounded fear, uncertainty, and doubt (FUD).
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Shiba Inu’s lead developer warns on the trade of calcium
Shiba Inu’s lead developer, Shytoshi Kusama, echoed and pinned this message on the Shibarium community Telegram group. Several other community members have also joined in the effort to disseminate this warning, stressing that individuals who choose to acquire the token at this juncture would bear sole responsibility for any potential consequences.
It is worth noting that certain malicious actors have persistently targeted the SHIB community by creating and selling counterfeit tokens. Some of these individuals have even launched fake versions of upcoming ecosystem tokens, such as TREAT and SHI.
In light of this concerning pattern, it has become imperative to educate the SHIB community about the fact that Calcium is not a legitimate token with liquidity. This initiative seeks to safeguard community members from potential losses resulting from trading counterfeit tokens and underscores the importance of exercising caution and due diligence in the volatile cryptocurrency landscape.
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