The Shiba Inu Team Indicates That the Minting of the BONE Token Is Nearing Completion

Crypto News– In a significant stride towards the contract renunciation of Bone ShibaSwap (BONE), the official gas token of Shibarium, the Shiba Inu development team has provided an update indicating that the minting process for the remaining BONE supply is approaching its conclusion.

The Shiba Inu Team Indicates That the Minting of the BONE Token Is Nearing Completion

Imminent BONE Renunciation This announcement arrives after weeks of eager anticipation within the Shiba Inu community and across the global crypto enthusiast sphere. The contract renunciation represents a pivotal step where the Shiba Inu team will relinquish control and ownership of the BONE token, marking a significant milestone in the evolution of the Shiba ecosystem.

The genesis of this initiative was set in motion when Shiba Inu commenced the process of renouncing BONE last week, concomitantly introducing a dummy token known as Calcium. Kaal Dhairya, a prominent developer within the Shiba Inu ecosystem, clarified that Calcium’s sole purpose was to facilitate the renunciation of the BONE contract, emphasizing that it should not be traded due to its absence of liquidity.

This milestone aligns with the decision taken by the Shiba Inu community last year to halt BONE minting once the circulating supply reached 230 million. The remaining 20 million BONE tokens from the maximum supply of 250 million BONE were designated for Shibarium validators, pivotal actors in securing the L2 blockchain.

Shifting from BONE Incentives to TREAT

The cessation of BONE minting heralds the conclusion of BONE rewards on ShibaSwap, as the ecosystem transitions to a new token named ‘TREAT,’ as previously revealed by Shiba Inu’s lead developer, Shytoshi Kusama. As of now, details about TREAT remain scant, with only its name and its role in the Shiba ecosystem disclosed thus far.