ShibaSwap Governance Token to Begin Trading on MEXC Global
Seychelles-headquartered cryptocurrency exchange MEXC has listed Bone ShibaSwap (BONE), the governance token of the decentralized exchange (DEX), in its assessment zone, according to an announcement posted on Monday.
Trading will begin on January 11 at 12:00 UTC.
BONE’s supply is capped at 250 billion tokens. Presently, its market cap stands at $27 million, according to data provided by CoinGecko.
Currently, the token is also available on BKEX and Hotbit. Yet Shibaswap accounts for the lion’s share of BONE’s daily trading volume.
As reported by U.Today, Shiba Inu developers announced the official beta launch of the first phase of a decentralized autonomous organization called Doggy Dao, which will put the community in control.
The community will be able to decide which trading pairs will appear in the WOOF liquidity pools. To be able to vote, users must receive tBONE tokens by staking their BONE tokens. It will be possible to choose up to 30 pairs. The community will be responsible for determining the distribution of BONE rewards.
DAO 2, the next iteration of the project, will add more complexity by introducing additional use cases for BONE and its staked version.
Last month, the developers confirmed that BONE will be used as a native token on the yet to launch Shibarium layer-2 solution, which is expected to significantly reduce transaction costs.
Despite all these developments, Shiba Inu (SHIB) is struggling to regain its momentum, recently dipping to the lowest level since mid-October.
