Wrapped BONE
Crypto Overview
Overview
Wrapped BONE (WBONE) is the wrapped version of BONE, which is one of the governance tokens in the Shiba Inu ecosystem. BONE allows holders to vote on proposals in the ShibaSwap decentralized exchange.
Purpose and Utility
The primary purpose of WBONE is to enable BONE holders to interact with other blockchain networks and DeFi protocols while maintaining their governance rights in the Shiba Inu ecosystem. It maintains a 1:1 peg with BONE.
Business Model
The business model revolves around providing governance rights and enabling cross-chain functionality for the Shiba Inu ecosystem. The token itself does not involve interest-bearing mechanisms or gambling features.
Real-World Adoption
WBONE has seen adoption primarily within the Shiba Inu ecosystem, being used for governance voting and cross-chain transactions. The token maintains active trading volumes across various decentralized exchanges.
Platform Development
The development activity is tied to the broader Shiba Inu ecosystem, which maintains regular updates and improvements. The platform continues to expand its utility through new partnerships and protocol integrations.
Token Distribution
WBONE maintains the same distribution metrics as BONE, with tokens being created only when BONE holders choose to wrap their tokens. There is no additional token allocation to founders or team members beyond the original BONE distribution.
Crypto Impact
To assign a comfort level investing in Wrapped BONE from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Wrapped BONE.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.