Shiba Inu’s marketing lead, Lucie, has advocated for the listing of the Bone ShibaSwap (BONE) token on Binance, the latest crypto exchange by trading volume.
This advocacy comes as the Shiba Inu ecosystem celebrates the milestone of the new liquid staking platform introduced by K9 Finance.
Why Binance Should be List BONE
On September 20, Lucie called on Binance to add BONE to its tradable assets. She highlighted the token’s crucial role in the Shiba Inu ecosystem, explaining that BONE powers gas fees on Shibarium, the project’s Ethereum-based layer-2 network.
Lucie also highlighted BONE’s decentralized nature, governance capabilities, utility, and limited supply. She pointed out that BONE enables decentralized governance, allowing the community to vote on key network decisions.
“BONE is integral to the SHIB ecosystem, It plays a critical role in Shibarium’s operations, as it is used to pay gas fees for transactions on the Shibarium Layer 2 blockchain. Currently, BONE has 95,000 holders, while SHIB has 3.8 million followers,” Lucie stated.
Read more: 6 Best Platforms To Buy Shiba Inu (SHIB) in 2024
BONE is also the governance token for the ShibaSwap exchange, playing a critical part in SHIB burns on Shibarium. Although major exchanges like OKX have listed BONE, Binance has yet to do so, which remains a source of frustration for Shiba Inu supporters.
This comes as Shiba Inu’s official X account recently highlighted the success of K9 Finance’s Liquid Staking and Derivative (LSD) platform, Bonecrusher, in its first 48 hours. Launched on September 18, Bonecrusher allows users to stake BONE tokens.
Buzz, K9 Finance’s pseudonymous founder, announced that 2.5 million BONE tokens were staked within the platform’s first 48 hours.
“The Shibarium daily transactions are up 82% since Bonecrusher launched. In 2 days K9 has not only become the largest product by TVL on Shibarium, but the TVL of the chain is en route to 3x,” Buzz stated.
Read more: How To Buy Shiba Inu (SHIB) and Everything You Need To Know
Buzz revealed that users staked $1.5 million in assets to farm knBONE, K9 Finance’s liquid staking token. They also locked 50% of KNINE’s circulating supply for an average of 10 months. Buzz claimed K9 Finance now holds the position as the largest DeFi protocol on Shibarium by total value locked (TVL).
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