Shiba Inu DAO Votes 97% In Favour Of Halting ShibaSwap Bone Minting For Shibarium

Shiba Inu DAO Vote BONE
Credit: Thor Deichmann/Pixabay

The Shiba Inu DAO has voted almost unanimously for ending ShibaSwap BONE minting early to allocate rewards to Shibarium validators, signifying a major step towards securing Shibarium.

After the vote closed on June 26, 97.88% of votes were in favour of Option A, which would stop BONE minting on ShibaSwap at 230 million, rather than 250 million as originally intended.

Here’s what this means for both Shibarium and ShibaSwap.

Shiba Inu DAO Votes On Bone Rewards

With 97% in favour of Option A, BONE rewards on ShibaSwap will stop much earlier than first planned. With a max supply of 250 million BONE, 20 million of this will now go towards Shibarium and its validators/delegators.

As such, ShibaSwap has just 2.6 million BONE left to mint before it reaches the 230 million cap.

31 million staked BONE (tBONE) voted in favour of Option A. In contrast, just 661,000 tBONE (2.12%) was in favour of Option B.

Option B would have seen the max cap of BONE increased to 270 million, but this was harshly pushed back against by the Doggy DAO and Shiba community. This proposal was criticised as it would have increased the BONE supply, which holders feared could push the price down.

After the vote passed on June 26, holders in the Bone channel on the Shiba Inu Discord celebrated the results. Several holders praised those voters, stating it will be better for both BONE and the ecosystem in the long term.

ShibaSwap Rewards After Bone

With only a couple million BONE rewards left for ShibaSwap, stakers are now wondering what will replace these rewards.

ShibaSwap users have touted a variety of cryptocurrencies as potential replacements, ranging from Ryoshis Vision, to Ethereum to even a brand-new token altogether, such as the fabled TREAT token.

However, this all remains complete speculation. The Shiba Inu team has not yet announced what it will use to replace BONE on ShibaSwap.

It could take a couple of months for BONE to hit its cap, so the Shiba team still has time to decide what the replacement could be.

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