The results of the Shiba Inu DoggyDAO are in. The community has decided to stop BEEN mining at 230 million. The development team gave two options to the community. The first was to stop BONE mining at 230 million, and the other was to expand production to 270 million. An overwhelming number of people voted for the first option (97.88%).
On June 19, the Shiba Inu team announced that they must protect 20 million BONE tokens for Shibarium’s validators and queues. BONE, however, was programmed to be stopped at 250 million. This led to the dilemma of whether the team should stop mining at 230 million and use the rest for Shibarium or expand production to 270 million.
From the moment the vote went live, it was a one-sided story. A majority of the people were opposed to the over-exploitation of BONE tokens. The idea of excessive coins has been linked by some holders to the power of governments to print money. Such inflationary tactics are quite divisive in the crypto world. When they expressed concern about the BONE contract, some even questioned how this remoteness procedure was possible at a distance. In addition, similar to how SHIB surfers want to limit the supply of Shiba Inu tokens, some believe that a smaller pool will increase the value of their assets and the price of BONE.
As of last week, 235 million BONE have already been minted.
When Shibarium, Shiba Inu’s L2?
Shibarium is Shiba Inu’s layer 2 protocol. This will reduce transaction costs for the token. In addition, BONE is the intended guest token for the network.
The organization that develops Shiba Inu’s Shibarium layer-2, Unification, said the Public Beta TestNet will launch in Q3 of 2022. In a blog post published by Unification, Maziar Sadri claims that the public TestNet will allow other parties to communicate with the network.
At press time, SHIB was trading at $ 0.00001089, up 33.5% over the past seven days. Meanwhile, BONE was trading at $ 0.483963, up 15.9% over the past seven days, but down 5.5% over the previous 24 hours.
Finally, DoggyDAO announced that there will be a new “community voice” proposal. The team has not disclosed what it is about, but hopes to get the community on board with it.
