ShibaSwap (BONE) Price

BONE

Buy

Before trading any crypto assets it is important to understand the risks. This overview summarizes certain risks associated with BONE. 

No securities regulatory authority has expressed an opinion about BONE, including an opinion that BONE itself is not a security and/or derivative.

Token Description & Project Background

ShibaSwap is a DEX associated with Shiba Inu, an Ethereum based memecoin ecosystem that was inspired by Dogecoin. 

BONE is the ShibaSwap platform’s governance token.In exchange for providing liquidity, platform users are provided with BONE tokens.  

Within the ShibaSwap ecosystem, deposited funds are held within special liquidity pools consisting of two unique assets. As such, users are required to deposit both tokens when seeking to add funds to a given pool. In ShibaSwap speak, this process (that is, supplying liquidity) is referred to as “Digging” and results in depositors getting liquidity pool tokens (SSLPs). 

In addition to its native swap functionality, ShibaSwap is also noted for its Bonefolio, an analytics dashboard where users can survey current interest rates and track their earnings.

Likewise, ShibaSwap’s “Bury” function allows users to stake their BONE tokens at high interest yields. Bury is also compatible with LEASH and SHIB, BONE’s “sister assets” within the Shiba Inu ecosystem.  In exchange for their staked assets, BONE holders receive tBONE tokens, representing their share of the staking pool. tBONE tokens also confers voting rights within the DoggyDAO, a decentralized organization tasked with overseeing improvements to the platform.

Shiba Inu was founded by an anonymous developer Ryoshi in 2020. 

Risks of BONE

Like an investment in other crypto assets, there are some general risks to investing in BONE. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in BONE is subject to the following specific risks:

  • The DEX (decentralized exchange) space faces intense competition. Any potential success associated with BONE is reliant on the ShibaSwap platform’s rate of adoption.
  • As part of a memecoin ecosystem, any potential success associated with BONE is reliant on the size and strength of the ShibaInu community, and their continued trading of the asset. 

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with BONE. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The BONE community and DoggyDAO are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of BONE have no recourse to the BONE community, DoggyDAO, or Uphold if BONE declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing BONE on the Uphold Platform, Uphold performed due diligence on BONE and determined that BONE is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

  • The creation, governance, usage, and design of BONE, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
  • The supply, demand, maturity, utility, and liquidity of BONE.
  • Any marketing materials put forward by the BONE social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
  • Material technical risks associated with BONE, including any code defects, security breaches and other threats concerning BONE and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
  • Legal and regulatory risks associated with BONE, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of BONE. 

General

Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

Uphold users should read the Risks Specific To Holding Digital Assets statement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.  

Canadian residents, please note that Uphold has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Uphold obtains registration, Uphold has agreed to abide by the terms of an undertaking available at the following link. Please also review the Uphold Canada – Crypto Risk Statement for additional discussion of general risks associated with the crypto assets made available through Uphold Platform. Please be aware that statutory rights of action for damages or rescission in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under securities legislation in the other provinces and territories of Canada do not apply in respect of this Crypto Asset Statement or other disclosures on the Uphold website and Risks Specific To Holding Digital Assets statement. 

Last updated on June 13, 2023.

How to buy ShibaSwap (BONE)

With Uphold, you can buy digital currencies in just 11 clicks - even if you don’t have an account yet. 

Nothing could be easier.

Here’s how fast it is to get started:

1. Go to Uphold.com and click sign up.

2. Enter your email address and personal details. 

3. Click the link we send you and create a password

… and you’re off to the races!

Just start trading.

Get more coin for your coin

0% withdrawal fees

Low spreads

Learn more