Bones

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BONES serves as the designated gas token for the Shibarium blockchain, necessitating its possession to cover transaction fees within the network. Beyond its utility as a transaction medium, $BONES empowers members of the Shib Army through its integration with the Doggy DAO, granting them the ability to actively participate in decision-making processes by voting on proposals. The catch? Holding $BONES is a prerequisite for wielding this voting influence, with snapshots taken at random intervals. Furthermore, $BONES holders are entitled to a share of the project's revenue, making it a multifaceted crypto asset with both practical and governance-oriented attributes

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FAQ

What is the primary purpose of the BONES token?

BONES serves as the gas token for the Shibarium blockchain, required for transaction fees within the network. This makes it essential for users engaging with Shibarium. Additionally, $BONES plays a pivotal role in governance processes within the Shib Army via the Doggy DAO, where holders can vote on proposals, influencing the direction of the ecosystem.

How can BONES token holders participate in the Doggy DAO?

BONES token holders are empowered to participate in the Doggy DAO by voting on governance proposals. To have this voting power, one must hold $BONES, as the required snapshots for voting are taken randomly. This integration emphasizes $BONES' role not just as a utility token, but as a gateway to active involvement in community-driven decisions.

What benefits do BONES holders gain apart from transaction utility?

Beyond its transactional purpose, BONES offers holders a say in governance through the Doggy DAO, where they can vote on critical proposals. Moreover, $BONES holders are entitled to a share of the project's revenue, adding a financial incentive to merely holding the token, which enhances its appeal as a multifaceted crypto investment.

How does BONES compare to other Ethereum-ecosystem gas tokens?

BONES is unique in the Ethereum ecosystem as it combines the standard utility function of a gas token on the Shibarium blockchain with governance features through the Doggy DAO. This dual role distinguishes it from other gas tokens that typically do not offer voting rights or revenue-sharing, adding layers of utility and community engagement.

Why is BONES categorized under L2 and how does it use Ethereum?

BONES is categorized under L2s due to its operation on the Shibarium blockchain, which functions as a Layer 2 solution within the Ethereum ecosystem. Layer 2s are designed to enhance scalability and reduce transaction fees on Ethereum, while $BONES acts as a gas token within this framework, supporting more efficient and cost-effective transactions.

What should I do if my BONES transaction fails on Shibarium?

If a BONES transaction fails on the Shibarium network, first ensure you have sufficient $BONES tokens to cover the transaction fees. Verify the network’s stability as network congestion can lead to delays or failures. Double-check that wallet settings are correct and try re-submitting the transaction. Contact Shibarium’s support if the issue persists for further assistance.

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