Bone ShibaSwap (BONE) Price

BONE (Bone ShibaSwap) is a token in the Shiba Inu ecosystem that serves both network and governance functions: on the Shibarium mainnet, it is the native Gas asset; in Shibarium’s proof-of-stake (PoS) system, it is used for validator staking and delegation; and in ecosystem governance, it is also the participation asset for BONE DAO. Therefore, merely “holding BONE” does not automatically grant validation, rewards, or governance execution rights; those uses each depend on completing the relevant actions in the corresponding network and governance processes.

When sending transactions, calling smart contracts, or interacting with applications on Shibarium, the network fee for executing that operation is settled in BONE. BONE’s role is to pay for on-chain computation and transaction processing on Shibarium; therefore, a wallet must have available BONE on the Shibarium network before a transaction can be submitted and executed. This does not mean that every operation related to Shibarium costs only BONE. For example, depositing assets from Ethereum into Shibarium starts with a transaction on Ethereum and requires ETH for Ethereum Gas; when initiating a PoS withdrawal from Shibarium, the Shibarium-side operation requires BONE, while subsequent Ethereum-side steps may also require ETH. Fee amounts vary with the actual transaction and current network conditions, so a fixed cost cannot be inferred solely from the fact that BONE is the Gas token.

Shibarium’s PoS design distributes different responsibilities across Ethereum, Heimdall, and Bor: validators and delegators first lock BONE in staking contracts on the Ethereum mainnet; Heimdall manages the validator set, generates checkpoints, and submits them to Ethereum; Bor produces blocks and executes Ethereum Virtual Machine-compatible transactions. The key to this structure is that user transactions are primarily executed on Shibarium, while checkpoints anchor periodic records of on-chain state to Ethereum. BONE is therefore both the Gas asset for day-to-day execution and the staking asset for this validation and checkpoint system; BONE used for these two purposes exists on different networks, has different payment purposes, and follows different operating procedures.

Validators are participants who operate validation infrastructure, stake BONE, and take part in validation and block/checkpoint responsibilities; delegators, in contrast, delegate BONE to validators that accept delegations in order to participate in the reward distribution from those validators’ staking positions. Both operate through the contract system on Ethereum, but one requires validation responsibilities and node operation, while the other does not mean operating a validator node independently. Validators can set a commission rate, which official documentation specifies as ranging from 0% to 100% of the rewards they receive; this means a delegator’s actual proceeds cannot be judged only from a validator’s displayed gross rewards, but also depend on the selected validator’s commission and network operating conditions. One Ethereum address cannot simultaneously act as a validator and a delegator.

BONE’s project website states that its supply is 250 million tokens; ShibaSwap documentation further specifies that BONE’s historical minting stopped on September 26, 2023. This event changed the source of BONE rewards that had previously been produced per block: after that point, that historical per-block minting cannot be treated as continuing new issuance. Stopping minting does not mean that all BONE-related balances stop changing. For example, the historical reward description for ShibaSwap Bury discusses per-block BONE rewards separately from reward arrangements related to swap fees. Therefore, the supply cap, reward accounting within contracts, amounts already locked, and the tradable amount in the market are different measures; a change in any one of them alone cannot prove how price, liquidity, or an individual’s returns will change.

When delegating BONE to a Shibarium validator, the operation is completed on Ethereum: connect an Ethereum wallet, choose a validator, first approve the token-spending permission, and then submit the delegation transaction. A successful submission only means that the delegation request has entered the on-chain process; claiming rewards, compounding, or moving to another validator each require a separate transaction. Undelegating also does not immediately return BONE to an available balance. Official guidance states that users must first unbond, then, after approximately one checkpoint (about 45 minutes), claim their tokens from the unbonding record. This waiting stage connects the staking state with network checkpoints; until the claim step is completed, assets after unbonding do not automatically become an available balance in the wallet. Related Ethereum operations also require ETH reserved for Gas.

ShibaSwap Bury and Shibarium validator delegation are not the same staking activity. Bury is an Ethereum-chain function on ShibaSwap: after staking BONE, a user receives tBONE as proof of the position; official documentation states that this Bury process has no fixed unstaking lock-up period, and users can initiate unbury to recover their assets. In contrast, the purpose of Shibarium delegation is to participate in the network’s PoS validator system, and unbonding requires waiting for a checkpoint and making a separate claim. Both operations may require an Ethereum wallet and ETH Gas, but their contracts, asset credentials, reward rules, and exit steps differ, so they cannot replace one another merely because both are called “staking.” The complete reward process for Bury 2.0 is still marked by the official source as a future release item and must not be treated as a rule that has already been fully implemented.

BONE DAO is the governance entity within Shiba Inu’s official Doggy DAO that addresses core ecosystem decisions and protocol upgrades. BONE can be used for the corresponding governance participation, but voting power and proposal-submission eligibility cannot be fully summarized as “holding tokens means voting”: specific proposals may use token-weighted, lockup-based, identity-based, or quadratic voting strategies. For example, the standard ERC-20 strategy weights votes by token holdings; the lockup-based strategy links longer lockup periods to greater voting power; and quadratic voting increases voting power according to the square root of the number of tokens. Official documentation also lists a requirement of holding at least 10,000 BONE to submit a BONE DAO proposal, a 7-day discussion period, and a standard 5-day voting period. These are governance-process conditions described in that documentation; they do not mean that every vote is guaranteed to pass, be automatically executed, or generate economic returns.

Native BONE on Shibarium and WBONE are not the same asset form. Native BONE is Shibarium’s network currency and Gas asset; WBONE is a wrapped form deployed on Shibarium for compatibility with token-contract interactions. Official network materials list separate mainnet addresses for each, so users should verify the asset name, network, and contract address before operating through a wallet, contract, or application. Wrapping generally addresses contract-interface compatibility rather than creating a second independent set of network Gas rules. If users confuse WBONE, native BONE, and BONE on Ethereum as the same balance, they may be unable to pay Gas on the wrong network, unable to complete a contract call, or send tokens to an inapplicable address.

When transferring assets between Ethereum and Shibarium through the official bridge, bridging does not instantly “move” the same balance. When depositing from Ethereum, assets leave the Ethereum side and an equivalent 1:1-pegged asset is minted on Shibarium; when withdrawing back from Shibarium, the Shibarium-side asset is burned and the corresponding asset is unlocked on Ethereum. The bridge design therefore aims to maintain the total-amount correspondence of these bridged assets, rather than allowing each chain to add an independent extra supply. Users need to distinguish directions and settlement stages: an Ethereum → Shibarium deposit transaction uses Ethereum Gas; a Shibarium → Ethereum PoS withdrawal is first initiated on Shibarium, and enters subsequent settlement only after validators include the transaction in an Ethereum checkpoint. Official materials give the PoS withdrawal processing time as approximately one checkpoint, about 30 minutes to 1 hour; this is a process estimate, not a guarantee for every transaction. Before bridging, users should also confirm that the token is supported, the source-chain balance, the destination address, and the fee assets required on both chains.