In a momentous stride towards renouncing the contract of Bone ShibaSwap’s (BONE) official gas token on Shibarium, the Shiba Inu development team has reported that the minting of the remaining BONE supply is rapidly approaching its completion.

The BONE Renunciation: An Anticipated Milestone The crypto community, along with Shiba Inu enthusiasts worldwide, has been buzzing with anticipation for weeks. The impending contract renunciation signifies a monumental move by the Shiba Inu team as they prepare to relinquish control and ownership of the BONE token. This marks a pivotal milestone in the continuous development of the Shiba ecosystem.

The journey toward this critical development began when Shiba Inu initiated the process of renouncing BONE, introducing a dummy token known as Calcium concurrently. Kaal Dhairya, a prominent developer within the Shiba Inu ecosystem, clarified that Calcium was specifically created to facilitate the renunciation of the BONE contract. He emphasized that Calcium should not be traded as it lacks liquidity.

For weeks, the Shiba Inu community has been eagerly awaiting this momentous event. The contract renunciation is poised to mark a pivotal juncture where the Shiba Inu team will relinquish control and ownership of the BONE token, a move that holds immense implications for the broader cryptocurrency landscape.

At present, the circulating supply of BONE stands at 229,923,351 tokens, with a total estimated value of $181.6 million, according to data from Coinmarketcap. To reach the token’s ultimate total supply of 230 million, an additional 76,649 million BONE tokens need to be minted.

This milestone aligns with the Shiba Inu community’s decision from the previous year to halt all BONE minting activities after the circulating supply reached 230 million. The remaining 20 million BONE tokens, from the maximum supply of 250 million BONE, were allocated to Shibarium validators, who play a pivotal role in securing the Layer 2 blockchain.

Transitioning from BONE Rewards to TREAT: A New Era Dawns With the impending end of BONE minting, the era of BONE rewards on ShibaSwap is drawing to a close, making way for a new token known as “TREAT,” as previously announced by Shiba Inu’s lead developer, Shytoshi Kusama. Currently, detailed information about TREAT remains scarce, with only its name and its role in the Shiba ecosystem disclosed thus far.

The Progress of Shiba Inu’s Team The progress made by the Shiba Inu team in minting the remaining BONE supply and approaching the contract renunciation is undeniably a monumental achievement for the Shiba ecosystem. The community eagerly awaits what lies ahead in this exciting journey.

Notably, despite the minting of additional BONE tokens, the asset’s price has remained relatively stable, defying expectations of a significant dip. As of the time of writing, BONE is trading at around $0.79, registering only a modest 1% decline over the past 24 hours.

In Conclusion The imminent contract renunciation of the BONE token signifies a crucial turning point for the Shiba Inu ecosystem. As the development team takes this significant step towards decentralization, the crypto world eagerly anticipates the emergence of TREAT and the exciting possibilities it holds for the Shiba Inu community and beyond.