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Shiba Inu Discloses Key BONE Updates As Release Of Shibarium Approaches
Shiba Inu blog post says that rather than fully halting the minting process of BONE as it nears the 230 million cap, it aims to slow the BPB (BONE Per Block) by adjusting the current minting rate to 1 BPB.
Himanshu S.
3:41 16th Jul, 2022

The Shiba Inu team has shared updates on the new minting rate of BONE in a Blog post.

This seems necessary to prevent overminting of BONE and also allow for ShibaSwap rewards to continue in anticipation of the upcoming reward token TREAT, which is planned to enter the ecosystem soon.

It says this will also protect the integrity of the DAO vote and the reward system while safeguarding the agreed minting ratios voted on by the community at 230 million BONE. The community previously decided to limit the maximum supply at the original cap of 250 million BONE by stopping its minting at 230 million.

According to statistics shared on the official BONE Twitter handle, only 499,000 BONE are left to mint to attain the 230 million cap, as of July 15.

The upcoming Shibarium will require 20 million BONE to be secured for its operations, in which validators/delegators and gas for Layer 2 will be reserved by this action. Additionally, validators will be rewarded in BONE for their work on Shibarium. According to recent updates shared by Unification last month, the Shibarium Public Beta TestNet is planned for deployment in Q3, 2022.


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