Shiba Inu Team Makes Big Move on BONE, Here's What's Going On


16 Sep 2023 10:42 AM

After successful Shibarium relaunch, Shiba Inu development team does not appear to be resting on their laurels...

  • The Shiba Inu development team is making moves on BONE, including renouncing the BONE contract and the burn portal.
  • The process of renouncing the BONE contract involves several steps, such as creating a dummy token, creating a new pool, and updating the number of BONE tokens created per block.
  • The complexity of the process is due to the mechanism developed to protect investors and avoid human interference.
  • The BONE token is protected by a timelock contract controlled by a decentralized multisig wallet.
  • The team is also introducing Wrapped Bone (WBONE), a token compatible with the Shibarium network's smart contracts.

The article highlights the proactive efforts of the Shiba Inu development team, indicating a positive sentiment towards their actions.

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You May Ask

What are the target points for the Shiba Inu ecosystem mentioned in the article?Why is the process of renouncing the BONE contract complex?How is the BONE token protected from human interference?What is Wrapped Bone (WBONE), and what is its purpose?What are the steps involved in the process of renouncing the BONE contract?

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