In a recent development, Kaal Dhairya, the key programmer for Shiba Inu, finally broke the silence on the much-debated topic of renouncing the BONE token contract. This announcement comes after mounting public scrutiny, urging the Shiba Inu team to relinquish the BONE contract to enable its listing on major exchanges like Binance.
Previously, Shytoshi Kusama, the Chief Developer, had committed to canceling the contract by August and even declared the final production of 20 million BONE tokens. Despite these promises, the team had gone radio silent, leading to growing unease among BONE token holders. This has resulted in a wave of discontent spreading across social media platforms.
Addressing the delay, Dhairya explained the intricate and technically challenging aspects of relinquishing the BONE contract. He emphasized that the initial design of the cryptocurrency was built with a focus on investor safety, incorporating features like group-controlled timelock contracts to limit human errors.
Dhairya also shed light on the rigorous testing that the Shiba Inu team plans to conduct before rolling out the renunciation feature on the mainnet. The procedure includes forming a new liquidity pool, minting the necessary BONE tokens, and moving forward with the contract’s dissolution.
The team will employ a timelock contract with a predetermined delay to bolster security during this critical phase. This serves as an extra layer of defense, protecting both the development team and the investors.
While Dhairya acknowledged that the process of contract renunciation has already commenced, he warned that it would be time-consuming due to the intricate design and built-in safety measures. “The process is already in motion, but it requires meticulous attention and will take as long as necessary to complete,” he stated.
Although this update may not fully alleviate BONE holders’ concerns, it clarifies the team’s challenges and ethical dilemmas. As the crypto world awaits further news, there is some comfort in knowing that the Shiba Inu team is committed to maintaining the highest standards of security and procedural integrity.