Kaal Dhariya, a lead developer in the Shiba Inu ecosystem, addressed concerns regarding claims that Bone ShibaSwap (BONE) could still be minted despite the contract being renounced. Over the weekend, crypto YouTuber Random Artz highlighted this issue after a Solidity developer, known as @shallowhal-i4n, alleged that the Shiba Inu team could exploit a loophole in the BONE contract to mint more tokens.
The developer claimed that unless the team renounced the contract and set its supply to “not mint,” BONE tokens could still be created. In response, Random Artz dismissed the allegations, calling the developer fake and accusing them of spreading outdated FUD (fear, uncertainty, and doubt) about it. He urged the community to counter the misinformation effectively.
Bone contract is and always was owned by the TopDog farming contract and the 6/9 multisig has already renounced that contract and no further minting is ever possible: https://t.co/x1DR65i72w https://t.co/NI26E6TeAT
— Kaal (@kaaldhairya) January 11, 2025
Contract Renouncement Confirmed
Dhariya joined the discussion to clarify the matter. He explained that the TopDog farming contract, which owns the BONE contract, had already renounced it. The multi-signature wallet (6/9) controlling the TopDog contract ensures that no further minting is possible. Dhariya supported his statement with an Etherscan link showing the renouncement in 2023.
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This renouncement permanently fixed BONE’s supply at 250 million tokens. It was also reported that the renouncement at the time, emphasizing that this action removed all developer control over the token’s contract.
Steps to Secure BONE Supply
To address concerns from exchanges like Binance, the Shiba Inu team took deliberate steps to renounce the contract. They created a proposal to cap BONE’s minting at 230 million tokens, allocating the remaining 20 million to Shibarium developers.
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On September 23, 2023, the team officially announced the contract’s renouncement. Despite these efforts, BONE is yet to be listed on Binance. Currently, BONE trades at $0.4482, with 229.92 million tokens circulating.
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Its price has dropped 98.92% from its all-time high of $41.67, recorded on September 13, 2021. By renouncing the contract, the team ensures BONE’s supply remains fixed, safeguarding its integrity.