The enigmatic SHIB creator Ryoshi’s original motivation for wanting to establish the BONE token has been revealed to the SHIB community by the official Shiba Inu marketing lead, Lucie. But later on, this original concept was modified in order to achieve a more realistic objective.
Here’s why BONE was created
https://x.com/LucieSHIB/status/1788130458334605648
According to Lucie’s tweet, the original intention behind the creation of the BONE token was to reward holders of SHIBs. Subsequently, the objective was modified to enable SHIB burns by the use of the layer-2 solution Shibarium. Whether this choice was taken before or after Ryoshi left the project was not disclosed by Lucie. The second one happened in May 2022.
Currently, BONE tokens drive Shibarium transactions and are used to cover petrol costs. A portion of these fees went towards supporting network developers so they could keep it running, while the remaining portion was converted to SHIB and stored in unspendable wallets before being burnt. It is crucial, Lucie underlined, that every token have a distinct function inside the Shibarium ecosystem.
Lucie likens SHIB to BTC
Lucie responded to criticisms over “slow SHIB burns” and the developer team’s current lack of contribution in a recent tweet. According to the SHIB marketing lead, Shiba Inu is a meme coin that has similarities to Bitcoin, the original cryptocurrency that was founded by the anonymous Satoshi Nakamoto, as neither entity is centralised.
The community was informed by Lucie that the team is not allowed to burn SHIB at will; Ryoshi destroyed his own burn keys and gave Shytoshi Kusama “the vision.”
https://x.com/LucieSHIB/status/1788108965236166722
The idea behind SHIB was to allow other developers to utilise Shiba Inu as the foundation for their businesses and dApps. Lucie concluded that in order to burn more SHIB meme money, high utility tools must be made. In such scenario, the squad will earn BONE, which they will then burn and convert into SHIB.
“No one can stop you because, just like around BTC, EVERYONE can build around SHIB,” the speaker said. But enhancing SHIB requires “a lot of money, persistence, and focus.”
