BONE Minting Rate Declines As Shiba Inu Continues ShibaSwap Reward Program

Shiba Inu

The Shiba Inu team recently announced that it would be adjusting the minting rate of BONE, its reward token. Therefore, as noted in a blog post, the minting rate of the reward token has been shifted to one BONE per block.

According to the announcement, this development will prevent the over-minting of the BONE token after the community voted to stop the minting of the reward token at 230 million.

However, the SHIB team still wants the ShibaSwap rewards to continue as preparations are ongoing for releasing the upcoming TREAT token.

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The Shiba Inu team said:

“We understand reducing the BPB down may seem like a drastic approach to the rewards system right now, but to begin streamlining the future of ShibaSwap, will allow the team to focus on the tasks that will bring these systems to life sooner rather than later,” 

ShibaSwap Reward Proposal

Over a week ago, the Shiba Inu team oversaw a recently concluded community proposal to halt the minting of the ShibaSwap reward tokens. Consequently, more than 98% of participants voted to stop BONE rewards at 230 million. 

BONE is capped to have a total supply of 250 million, and 20 million BONE will be reserved for validators and processes within Shibarium.

With BONE rewards expected to stop minting at 230 million, Shytoshi Kusama, the lead developer of Shiba Inu, recently revealed that a new token dubbed TREAT would be launched to replace it.

However, the SHIB team has yet to choose a date to release TREAT. Furthermore, the team has not revealed the tokenomics of the upcoming cryptocurrency.

As BONE edges closer to 230 million caps voted by the community, the dog-themed token has decided to slow down the minting rate of the token to ensure ShibaSwap rewards continue.

Read more: Shiba Inu Team Close to Unleashing Fourth Ecosystem Token as “TREAT” Bounces “BONE”