What is ShibaSwap (BONE)

BONE (BONE/USDT – Trade it here) is the governance token of the ShibaSwap ecosystem which will allow the ShibArmy to vote on proposals on Doggy DAO, the governance system of Shibaswap. Basic information for their token is available on the MEXC Digital asset introduction page.

What is ShibaSwap BONE
What is ShibaSwap (BONE)

ShibaSwap Core Features and Ecosystem

ShibaSwap started from a decentralized meme token SHIB and evolved into a vibrant ecosystem. It is the native DEX of the Shiba Inu Coin project that allows users to trade peer-to-peer without any counterparties.

ShibaSwap allows users to provide liquidity to earn BONE through digging, stake their BONEs to earn rewards, and swap their tokens for other tokens. Furthermore, users can vote through Doggy DAO to make decisions and participate in community events, and claim WOOF as returns, all in a decentralized environment. It also has a unique and exclusive NFT collection called Shiboshis with 10,000 NFTs, which are special to the ShibaSwap community and available for trading.

ShibaSwap’s Tokenomics

Here is a brief introduction to ShibaSwap’s BONE economic flow within the ecosystem. Usually, users can “bury” (stake) or “dig”(provide liquidity) BONEs.

Bury BONE

When the user “bury”(stake) BONE tokens, the user will get tBONE. 1% of all BONE Per Block (BPB) is additionally minted and distributed to tBONE holders, that are part of the BONE POOL. 0.05% of the allocated swap fees are distributed into Bury pools and a part is sent to tBONE holders, which allows users to increase their BONE balance. The 33% of the BONE returns will be distributed weekly and available for withdrawal and the remaining 67% will be time-locked for six months.

Dig BONE

BONE liquidity is encouraged on ShibaSwap by offering the BONE SSLP TOKEN. The BONE SSLP TOKEN pool gathers 0.1% of all DAI swap returns and 0.1% of all USDT swap returns. Additionally, 33% of the BONE is available for withdrawal at any time and the remaining 67% is time-locked for six months. The 33% of the DAI and USDT returns will be distributed weekly and available for withdrawal and the remaining 67% will be time-locked for six months.

Recent Price & Performance of ShibaSwap (BONE)

Currently, their market price is $0.8112 per unit. It has a market cap of $130,679,764 and a fully diluted market cap of $186,580,603. It also has a 24-hour trading volume of $2,688,783. You can check the live price of their token right here!

How to buy ShibaSwap (BONE)

You can buy ShibaSwap (BONE) on MEXC by following the steps:

  1. Log in to your MEXC account and click [Trade]. Click on [Spot].
  2. Search “BONE” using the search bar to see the available trading pairs. Take BONE/USDT as an example.
  3. Scroll down and go to the [Spot] box. Enter the amount of BONE you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy BONE] to confirm your order. You will find the purchased BONE in your Spot Wallet.

You can find a detailed guide on how to buy BONE token here.

Keep Yourself Updated With The Crypto Trend

Check out all of the listings in the Innovation and Assessment zones as well as the major tokens in the Main Zone – we have more amazing projects to come! What’s more, MEXC lists moonshots and offers access to trade major cryptocurrencies. Visit the Hot Projects section as well to uncover more featured popular tokens. Lastly, feel free to visit MEXC Academy to learn more about cryptocurrency!

Start your travel on MEXC Global

Share your love to MEXC Global
Default image
MEXC Blog
We are your first stop for high quality projects - Buy, Sell & Trade Cryptocurrencies, NFTs, Margin, ETF, Futures, DeFi!