Shiba Inu users on ShibaSwap are readying themselves for a change as BONE minting for the DEX looks likely to stop in late July.
With the Doggy DAO voting to halt BONE rewards to reserve 20 million BONE for Shibarium validators, ShibaSwap will likely no longer distribute BONE rewards after BONE hits the 230 million circulating supply.
So what does this mean for ShibaSwap and BONE? Let’s take a look.
Shiba Inu BONE Minting On ShibaSwap To End
With a current circulating supply of 229,398,312 BONE, just over 601,000 BONE is yet to be minted before the Shiba Inu sister token reaches that 230 million mark. With a hard cap of 250 million, this will leave 20 million allocated for the Shibarium Layer-2.
Based on current calculations, the BONE minting for ShibaSwap could stop on July 22.
Of course, this does not mean BONE minting will stop entirely. As posted by Lucie Sasinkova (Gossip SHIB) based on information from SHIB Growth member Milkshake, it seems that BONE minting will still continue to the 250 million mark, to reserve this for Shibarium.
We don’t currently know exactly where this BONE will end up for now, considering Shibarium is not yet live. Shibarium is currently slated to enter a public beta in Q3 2022, meaning it could happen anytime now.
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Once minting halts and the ShibaSwap rewards using this Shiba token end, the new TREAT token will take its place. Of course, we still know very little about TREAT aside from its name and role in the Shiba ecosystem.
This means it is unlikely TREAT will launch straight after BONE rewards halt, but nothing is confirmed or ruled out.