What is Bone ShibaSwap (BONE)?

Bone ShibaSwap (BONE) is an Ethereum-based token of the ShibaSwap (DEX) platform. It is the governance token within the Shiba ecosystem; BONE grants its holders the right to vote on forthcoming proposals associated with the ShibaSwap platform. The holders of this Ethereum-based BONE token are also eligible to earn rewards by providing liquidity to the Shiba network or participating in staking programs. An anonymous identity, Ryoshi, launched the Bone ShibaSwap whitepaper on April 29, 2021. The maximum supply of BONE tokens is 250,000,000 BONE.

Alongside BONE, tokens like SHIB and LEASE also contribute to the comprehensive ecosystem of ShibaSwap. With the help of all these tokens, ShibaSwap aims to build the best Decentralized Ecosystem (DECO).

How does Bone ShibaSwap (BONE) work?

The ShibaSwap team is developing the best-decentralized ecosystem (DECO) with all three meme tokens: BONE, SHIB, and LEASE. BONE is the governance token of the ShibaSwap, allowing its owners to vote on proposals related to the future development of the ShibaSwap platform. BONE holders can also vote on the decentralized autonomous organization (DAO), Doggy, associated with ShibaSwap.

Apart from this role, BONE also has multiple other uses in ShibaSwap that involve other meme tokens of the system. The first way is through a liquidity pool named DIG. Everyone who locks their SHIBA tokens (the native token of the Shiba ecosystem) in the DIG pool receives ShibaSwap Liquidity Pool tokens (SSLP) that they can further redeem to get free BONE tokens.

Secondly, you can use BONE tokens on ShibaSwap to earn rewards through WOOF, a yield farm pool. This yield farm pool allows users to exchange their BONE rewards by swapping their SSLP tokens. Another way to use BONE tokens is through the BURY function of the platform. This function allows users to stake BONE, LEASE, or SHIB tokens to earn high interest. Depending on the token you stake, you will receive tBONE, xLEASE, or xSHIB, representing your staked amount.

Along with all these current utilities, the BONE token will have many use cases in the upcoming Shibarium layer-2 solution. BONE will be the platform token of this project and will be used to pay transaction fees and rewards to nodes. Out of the 250 million total supply of this token, the platform has reserved 20 million to reward validators and delegators of Shibarium. All the participants in the Shibarium will also need to own BONE tokens. Shibarium will also use a specific percentage of its collected gas fee in BONE tokens to burn the supply of another token, SHIB.

How to Buy Bone ShibaSwap in India?

There are many platforms where you can buy Bone ShibaSwap tokens in India.

One such platform is Flitpay. To buy Bone tokens in INR, you have to sign up for the relevant application, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, make sure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy Bone tokens and execute the BONE purchase.

You can instantly convert your INR to Bone (BONE)  tokens and Bone (BONE) tokens to INR and withdraw your INR through bank transfers whenever you want.

Flitpay is the safest cryptocurrency exchange in India where you can buy Bitcoin, Ethereum, Dogecoin and other top cryptocurrencies securely.

What to Do After I Buy Bone ShibaSwap (BONE)?

Bone ShibaSwap (BONE) can be used to buy other cryptocurrencies after converting it to INR through crypto exchange platforms like FLITPAY. You can also hold Bone ShibaSwap (BONE) till it reaches a high price, and sell it through Flitpay's OTC order facility. You can earn significant profits from buying it at a lower price and selling it at a higher price.

BONE also gives its owners the Voting right to vote on proposals related to the ShibaSwap platform. Moreover, you can stake and swap it to get other tokens of the Shiba ecosystem and earn rewards. Many holders of the BONE token are waiting for the launch of Shibarium, which will bring many new exciting utilities for the token.

Why Use Bone ShibaSwap (BONE)?

BONE is one of the most important parts of the Shiba ecosystem. It acts as the voting card for all those willing to participate in the governance mechanism of the ShibaSwap platform. The owners of this token can lock their holdings to earn network rewards offered by Shiba. Moreover, the Shiba supporters aka Shiba Army have been eagerly waiting for its layer-2 blockchain solution called Shibarium, which will add exciting use cases for the BONE token.

BONE will act as the platform currency as well as the incentive for the Shibarium ecosystem and will also help burn the supply of SHIBA tokens.

FAQs

What is Bone ShibaSwap (BONE)?
Bone ShibaSwap aka BONE, is the governance token of the ShibaSwap DEX platform. It gives its holders the voting rights to have a say in the proposals related to the future policies of the ShibaSwap. The maximum supply of BONE tokens is 250 million.

What is Bone ShibaSwap (BONE) price in India?
Check out the current INR price of Bone tokens in India on Flitpay.

Which is the best crypto app to buy Bone ShibaSwap (BONE) in India?
The best crypto app to buy BONE or your favorite cryptocurrencies in India is Flitpay. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100

What are the benefits of Bone ShibaSwap (BONE)?
Bone ShibaSwap (BONE) has powerful use cases in the layered solution for Shiba called Shibarium. The users will be able to pay the gas fee of Shibarium in BONE tokens and the validators and delegators will also receive their reward in the BONE token.

Is it safe to invest in Bone ShibaSwap (BONE) in India?
Yes, investing and trading in Bone ShibaSwap is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges to buy Bone. It offers the most real-time prices and advanced investing features.

Is Bone ShibaSwap (BONE) a Good Investment?
Bone ShibaSwap (BONE) is a crucial part of the Shiba ecosystem. It is one of the three tokens that govern the upcoming changes in the most important Shiba entity, ShibaSwap. It will also act as the primary token in the upcoming Shibarium blockchain. Thus, it seems like the right addition to your meme coin portfolio. However, like other memecoins, BONE is also a highly volatile cryptocurrency. Thus, you must be cautious while investing in it.