Unveiling BONE Use Case: Shiba Inu Lead Explores Layer 3 Blockchain

20 views 1:44 pm 0 Comments May 14, 2024

Story Highlights

  • The Treat token of the Shiba Inu network surged by more than 22% amidst the excitement surrounding the L3 Launch.
  • Lucie, the marketing chief of Shiba Inu, highlighted the utility of the Bone Shibaswap on the L3 blockchain.
  • She emphasized that both BONE and TREAT would be utilized by L3.

In a recent statement addressing concerns within the Shiba Inu (SHIB) community, Lucie, the marketing lead, reaffirmed the significance of both Bone Shibaswap (BONE) and Treat (TREAT) tokens in the evolving ecosystem. Amid speculation surrounding the utility of BONE after Shiba Inu’s Layer 3 (L3) launch, Lucie dismissed notions of it being useless. Moreover, she emphasized its integral role alongside TREAT.

Utilization of Treat & Bone in Layer 3 Blockchain

Lucie elaborated on the distinct functionalities of each token, highlighting TREAT’s role as the reward token within the ecosystem. She explained that TREAT incentivizes participation, allowing users engaging with Shiba Inu to earn free TREAT tokens through staking or pool involvement.

These incentives aim to enhance community engagement and ensure the sustainability of the ecosystem. Additionally, TREAT serves as a governance and gas token on L3, providing users with voting rights and facilitating transactions within the Layer 3 blockchain.

Addressing concerns about the future of BONE post L3 implementation, Lucie drew a fitting analogy, comparing its relationship to L2 to a finger adorned with a ring. She further emphasized that while BONE powers Shibarium L2, TREAT governs L3. Lucie highlighted the complementary nature of both tokens, stressing their collective importance in propelling the ecosystem forward.

In response to queries regarding the potential redundancy of BONE following the L3 rollout, Lucie unequivocally stated that both tokens would retain relevance. She underlined that the L3 blockchain would leverage both BONE and TREAT, building upon the foundation laid by L2. Lucie’s assurance instills confidence in the continued utility and value proposition of BONE.

Also Read: Shiba Inu’s Shytoshi Kusama Secures $12M Funding Via TREAT for Layer-3 Blockchain

Treat Surges Ahead of L3 Launch

The Treat token within the Shiba Inu ecosystem experienced a notable rally of over 22% today amidst the growing anticipation surrounding the L3 launch. As of the latest update, the price of Treat surged by 22.20% to \(0.00127, with a market cap of \)4.23 million on Tuesday, April 23. Additionally, its 24-hour trade volume witnessed a significant increase of 212.04% to $75,021.

However, with mounting skepticism surrounding BONE’s future, its value witnessed a sharp decline. The price of Bone ShibaSwap dropped by 5.46% to \(0.6719 at the time of reporting. Moreover, the trading volume of BONE decreased by 16.68% to \)9.89 million in the last 24 hours, with BONE hitting a low of $0.6638 today.

Also Read: SHIB Joins Top 3 Cryptocurrencies To Generate Wealth In 2024, Shiba Inu, Shiba Budz & Pepecoin

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