Shiba Inu Community Faces Big Hurdle Before Shibarium Launch

The Shiba Inu community has backed the project and its developers such as Shytoshi Kusama, despite delaying the launch of the layer-2 blockchain solution Shibarium since last year. Shibarium will offer the benefits of scalability, faster transaction times, lower fees, and an expanded development framework.

While developers and the official Twitter handle of the Shiba Inu ecosystem hint at a potential launch of Shibarium Beta this quarter, the community has another big issue ahead of them. It is the listing of Bone ShibaSwap (BONE) token by the crypto exchange Binance.

When Binance Will List BONE?

In its official Shibarium blog, the Shiba Inu team has confirmed that BONE will be the only gas token for Shibarium transactions and a reward token for validators and delegators. The BONE token is available since July 2021 for governance and now for Shibarium. But it hasn’t been listed by the world’s largest crypto exchange Binance.

After the Shibarium launch, BONE will be the main token. In fact, validators will lock a certain number of BONE tokens to provide security and stake BONE through staking management contracts on the Ethereum mainnet. Moreover, delegators will stake BONE into validator nodes responsible for validating transactions. Thus, most things around the Shibarium blockchain will involve the BONE token.

Also, Shibarium transactions will burn Shiba Inu (SHIB) token and helps increase the burn rate for SHIB. Despite so many uses points of BONE token, Binance hasn’t listed the token even in its “innovation zone.” In order to list BONE in the “innovation zone”, a founder needs to submit a listing application form. However, the identity of Shiba Inu’s founder Ryoshi is still a mystery. So, whether lead developer Shytoshi Kusama could submit the application with Binance?

Community Files Petition Amid FUD

The community has taken the issue into its own hands and started a petition to list BONE on Binance. ShibArmy or the community’s previous petitions such as PayPal to accept SHIB as payment and Robinhood to list SHIB were successful. Only time will tell if the community will be successful this time or not.

Unification developer update reveals the Shibarium Beta launch is likely coming in Q1 as its team finishes testing Oracles of Oracle (OoO) for the Shibarium Layer-2 blockchain.

The recent Bonk Inu (BONK) hype forced many top crypto exchanges to list the token, but it fails to get listed on Binance. Will the Shiba Inu ecosystem’s BONE token grab the likes of Binance or fails to attract the exchange to list BONE token? It remains a big problem for the community ahead of the Shibarium launch. Undoubtedly, the listing will be massive news for the community and push the token on a bull run.

BONE price is currently trading at $1.95, up 34% in the last 24 hours, supported by a 240% jump in trading volume.

Also Read: Bone ShibaSwap (BONE) To Rank In Top 100? SHIB Community Bullish

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.