A key altcoin in the Shiba Inu (SHIB) ecosystem is scheduled to be listed on Gate.io, according to an update from the crypto exchange.
Gate.io, one of the top 20 exchanges with over $800 million in 24-hour trading volume, updated its trading page for ShibaSwap (BONE) on Thursday with a countdown to when the altcoin will launch.
BONE will be used for gas fees and governance at Shibarium, the highly anticipated Layer 2 project designed to make Shiba Inu more efficient, similar to Polygon (MATIC) on Ethereum (ETH). It is also the native token of ShibaSwap, a decentralized finance (DeFi) and decentralized exchange (DEX) for the Shiba Inu sphere.
Gatio.io’s BONE listing comes just as ShibaSwap confirms that the Shibarium beta will be released sometime next week.
The release dates for the official and beta versions of Shibarium have been the subject of debate, and the project’s pseudonymous lead developer Shytoshi Kusama has said he will not give firm dates to avoid disappointment over possible delays.
Earlier this month, BONE was also listed on Bitget, another crypto exchange similar in size to Gate.io. The Shiba Inu community launched a petition for Binance, the world’s largest cryptocurrency exchange, to list BONE in early February, but Binance has yet to respond.
As of this writing, BONE is up 45% in the last 30 days and just under 10% in the last 24 hours. Doge Killer (LEASH), another altcoin within the Shiba Inu ecosystem, is also outperforming crypto markets, currently up 150% since the beginning of the year.
LEASH is expected to power Shibaverse, an upcoming non-fungible token (NFT) and metaverse project for the Shiba Inu community. LEASH’s exact usefulness will be determined closer to the Shibaverse release.
At time of writing, LEASH is trading at $711 with a market capitalization of $76 million.
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Featured image: Shutterstock/Sergey Nivens/karnoff
