Is Shiba Inu’s BONE About to Be Listed on Binance Futures?

The demand for Shiba Inu’s BONE erects to new heights due to Shibarium’s expanding utility range.

A guy and a skeleton sitting watching a digital DEFi bubble sprout bones.
Created by Kornelija Poderskytė from DailyCoin
  • Shibarium’s total value locked recently reached a new peak at $3.9M.
  • Binance customers are voting for BONE in the Futures NEXT campaign.
  • $0.70 key support held as market correction drowns BONE 35% monthly.

Shiba Inu’s (SHIB) alternative cryptocurrency, Bone ShibaSwap (BONE), is still a few steps away from the much-anticipated Binance listing. However, the crusade to list Shibarium’s official gas fee token on the globe’s largest cryptocurrency exchange by trading volume is starting to bear fruit on Binance’s Futures NEXT.

Here’s How to Vote for BONE

Bone ShibaSwap’s voting campaign has materialized in Binance’s nominated tokens pool, where BONE is placed in the 9th position. Since its inception over a month ago, Binance Futures NEXT has given SHIB Army members the opportunity to vote for BONE’s inclusion in Binance’s Futures markets.

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Users can nominate their preferred tokens for the Binance listing by depositing a new token in the NEXT pool. If one of the cryptocurrencies on Binance’s Futures NEXT leaderboard makes the listing, the voters are eligible to secure multiplied voucher rewards.

Nominated meme coins pool.

Currently, Bone ShibaSwap takes the 9th spot with 17,974 Picks. To acquire voting power, users have to deposit BONE onto the platform, while the rewards multiplier of 1.2x is implemented after the nominated token gets the listing. As of press time, 703 people have signed up for BONE’s listing on Futures.

Why Is Shiba Inu’s BONE Demand Rapidly Rising?

While BONE is now officially the gas fee token of Shibarium L2, the initial developer team renounced BONE’s smart contract last year. This was said to increase BONE’s chances of landing a Binance listing. With a capped max supply of 250,000,000, this raises the question of how Shibarium Layer-2 would handle the rising demand for millions of transactions per day, as BONE is required for Shibarium’s on-chain transfers.

Meanwhile, on March 26, 2024, Shibarium Layer-2’s public blockchain soared to fresh heights in total value locked (TVL). Promising new projects like WoofSwap were onboarded in a coordinated crusade to boost Shiba Inu’s chain liquidity.

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While the $3.9M TVL milestone is impressive, the vast majority of Shiba Inu custodians are putting their hopes in the ground-breaking K9 Finance decentralized application (dApp), which is due to launch in Q3 of 2024.

The K9 Finance program is crucial, as it employs BONE to provide simultaneous staking opportunities via the Liquid Staking Derivatives (LSD) technology. As seen on Lido Protocol and Rocket Pool on Ethereum (ETH), this type of staking model can dynamically diversify digital assets across different platforms to maximize potential revenue.

On the Flipside

  • Several other TOP 10 cryptocurrency exchanges, including OKX, HTX, and Crypto.Com, have previously listed Bone ShibaSwap (BONE).

Why This Matters

Bone ShibaSwap facilitates on-chain liquidity on Shibarium; therefore, its acceptance by major exchanges would contribute to a broader adoption of Shiba Inu’s own Layer-2 network.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.