The official SHIB marketing lead, known under the pseudonym Lucie, has take to her account on the X social media tool (widely known as Twitter for more than a decade in the past) to stress the important role that the BONE token plays in the whole SHIB ecosystem, including Shibarium.
Lucie published an X post, praising BONE and its importance for all SHIB holders and users.
The SHIB executive described BONE token in a few words: “The POWER (Energy Source).”
She compared it to gas and electricity for a car – “without fuel, you’re just sitting in a fancy metal box!” she wrote. Hence, the great importance of BONE as a gas fee token, Lucie underscored.
This “gas” does not only keep “the Shibarium engine” running, but also the whole SHIB ecosystem runs on it, Lucie pointed out to the SHIB community.
“Without Bone, the whole system would be stuck in park,” the SHIB marketing expert assured SHIB holders on X.
You can’t drive a car without gas or electricity because, without fuel, you’re just sitting in a fancy metal box!
That’s why Bone is so important as a gas fee token. It’s like the gas that keeps the Shibarium engine running ( WHOLE SHIB ECOSYSTEM) . Without Bone, the whole…
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) October 7, 2024
Another major use case for BONE on Shibarium is token burns. A portion of the gas fees paid in BONE are set aside by the Shiba Inu team. Once a certain amount of BONE is saved in this manner, it gets automatically converted into SHIB and burned, i.e., permanently locked in unspendable wallets.
The long-term goal of these burns is to reduce the circulating amount of SHIB tokens and thus make them more scarce as an asset on the market. In theory, this can help the SHIB price increase in the future.
Today, according to the Shibburn tracker, the burn rate increased by an impressive 555% within the last 24 hours. In total, 5,166,319 SHIB meme coins were scorched in six transactions. The biggest of them carried 1,110,802 SHIB to dead-end wallets.