Shiba Inu, known for its Bone ShibaSwap token, is progressing towards renouncing the Bone Token contract. Kaal Dhairya, a Shiba Inu developer, shared updates on the renunciation plan in a recent blog post. Renouncing the contract is a crucial step in relinquishing control and ownership, with significant implications for the token’s future.
The Bone Token contract renunciation process has become more complex due to additional protection measures. Thorough testing is necessary to prevent any losses, as there are limited opportunities for retries on the mainnet.
The community eagerly awaits this development, as it could lead to potential listings on major exchanges. The delay in the renunciation announcement was explained by Kaal Dhairya, who highlighted the initial design complexities aimed at protecting investors.
Dhairya outlined the intricate steps involved in the contract renunciation process, including creating a new liquidity pool, minting BONE tokens, and ultimately renouncing the contract. Thorough testing and the use of a timelock contract with a delay mechanism ensure investor protection.
While the journey to renounce the BONE contract has begun, caution and meticulous planning are emphasized. The Shiba Inu team is committed to the task, although it may take time to navigate the complexities of BONE’s unique design.
As the community eagerly awaits the outcome, the Shiba Inu team remains dedicated to the community’s interests, ensuring careful execution of the renunciation process.
At the time of writing, the Bone ShibaSwap price was $0.8191 with a 0.15% increase, while the Shiba Inu price was $0.000007474 with a 1.31% increase.