The Shiba Inu team has officially renounced the Bone Shibaswap token contract, eliciting speculations that Binance, Kucoin and other top crypto exchanges would now consider BONE listing.
Amid the plummeting price of SHIB in the past weeks, the Shiba Inu team has given its teeming community members a big reason to be excited. In a recent update, the team announced that they have finally renounced the Bone Shibaswap (BONE) token contract.
Kaal Dhairya, a top Shiba Inu developer took to X (formerly Twitter) on Tuesday to drop the bombshell, attaching a link for confirmation. Dhairya added that Shiba Inu ecosystem developers will continue to build decentralized, permissionless systems —such as Shibarium — for the benefit of the community.
“The deed is done, BONE is now renounced via the TopDog contract,” Dhairya remarked. To further corroborate the update, the official X account for the Shiba Inu ecosystem shared the tweet to reach more members of the ShibArmy.
BONE Contract Renunciation
For the uninitiated, BONE is the governance token for the Bone Shibaswap decentralized exchange (DEX) and the gas token for the Shibarium layer-2 blockchain.
The token was created by the team behind Shiba Inu in July 2021 to enable the ShibArmy to vote on upcoming proposals, submit proposals and access future NFTs in the Bone Shibaswap DEX ecosystem.
Renouncing the contract of BONE means that the Shiba Inu team has relinquished control and ownership of the token. This contract renunciation comes shortly after the team minted an extra 20 million BONE tokens to the initial 230 million tokens for validator rewards purposes. Thus, BONE has a maximum supply of 250 million tokens.
Is Listing on Binance Near?
These popular and widely adopted exchanges cited the Shiba Inu team’s control over the token contract for their lack of BONE support. Following the renunciation of the Bone Shibaswap token contract by SHIB developers, community members speculate that Binance and other top exchanges would now consider listing the token.
If this plays out, BONE could stage an impressive rally. At press time, the crypto asset is exchanging hands at $0.9206, up over 11.7% in the past 24 hours according to Coinmarketcap data.