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Shiba Inu Team Says No Further BONE Minting Possible, Refutes Claims of Minting Capability – The Crypto Basic

Karl Dahlia, a top developer in the Shiba Inu ecosystem, addressed concerns about whether the team would still be able to mint Bone Shiba Swap (BONE) despite abandoning the contract.

Over the weekend, popular virtual currency YouTuber Random Artz called Shiba Inu community caution against misunderstandings It was being spread by a Solidity developer using the username @shallowhal-i4n.

Solidity developer says BONE is “still mintable”

Specifically, the developer says that the team behind the Shiba Inu ecosystem can mint BONE if they wish. The developer suggested that there is a loophole in the BONE contract that the team could exploit to create additional tokens.

He emphasized that BONE is still mintable unless the team terminates the contract and sets its supply to “unminted.” In response to this claim, Random Arts labeled the Solidity developers as fake and accused them of spreading old FUD about BONE.

The YouTuber called on members of the Shiba Inu community to do their best to counter misinformation.

Shiba Inu developer refutes claims regarding BONE casting

Darya I participated Other community members refuted the claims raised by the so-called Solidity developers. The Shiba Inu developer identified TopDog's farming contract as the owner of the BONE contract.

According to Dhairya, the TopDog contract using the 6/9 multisig wallet has already abandoned the BONE contract, preventing further minting of additional tokens. he provided ether scan link The team has confirmed that it has successfully terminated its BONE contract in 2023.

Notably, The Crypto Basic reported on the development at the time, noting that the waiver was made through the TopDog contract. Pursuant to the waiver of the BONE contract, the team relinquished control of the tokens. Among other things, this ensured that the supply would be fixed at 250 million units.

This move will prevent anyone, including ecosystem developers, from minting new BONE tokens or adding them to the supply.

Reason for cancellation of BONE contract

The Shiba Inu team abandoned the BONE contract in order to list their tokens on top exchanges such as Binance. At the time, several community members suggested that these top exchanges may have chosen not to list BONE because the Shiba Inu ecosystem team still controls the contract for the token.

Addressing this concern, the team took significant steps to terminate the contract. This includes creating a proposal to stop minting BONE at 230 million and allocating the remaining 20 million tokens to Shibarium developers.

On September 23, 2023, the team officially announced that it had abandoned the token contract and prevented further minting. Despite this, BONE is not yet listed on major exchanges such as Binance or Coinbase.

Meanwhile, the maximum supply of BONE is 250 million, with 229.92 million tokens currently in circulation. It is trading at $0.4482 per token, down 2.09% in the past 24 hours. BONE also plunged 98.92% from its all-time high (ATH) of $41.67 recorded on September 13, 2021.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. We encourage our readers to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.

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