When the BONE token was launched, it was enveloped in a system designed to shield investors from potential threats, including administrative interference or other human interventions. This protection was further enhanced by integrating a Timelock contract governed by a decentralized multi-sig wallet.
Such measures elevate the intricacy of minting the remaining BONE tokens and transferring the ownership of the BONE contract. Given the stakes, there’s no room for mistakes; every step must undergo rigorous testing to ensure no losses.
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Intricacies of Bone Minting
The process of minting BONE is multifaceted. Initially, the allocation points for all pools are set to zero, ensuring no other pools receive BONE emissions. A dummy token, Calcium, is then created exclusively for minting and renouncing BONE. Investors must be wary of any trades involving this token, as it holds no future value, and any sales are likely scams.
A new CAL-ETH pool is established in ShibaSwap to obtain LP tokens. The number of BONE tokens created per block is then updated, influencing the speed of BONE minting. Once the desired BONE value is minted, the Bone per Block is reset to zero.
Renouncing Process and TimeLock Contract
The renouncing process is equally intricate. Since the TopDog contract’s owner is designated as TimeLock, the first transaction within TimeLock must be initiated by the gnosis. After a grace period, the admin executes the transaction (gnosis).
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Show more +The time gap between the queueTransaction and executeTransaction is the eta period, which should be a minimum of the current time plus one day. This period must be executed before the eta, plus a grace period of 14 days. The TimeLock contract is used to queue a transaction, setting up a delayed transaction that can be executed post the time specified by the delay variable in the TimeLock contract.
The Shiba Inu Ecosystem’s dedication to security and transparency is evident in its meticulous processes. While the team emphasizes the importance of individual research, their commitment to decentralization and self-sovereignty remains unwavering. As a humorous aside, the team now only accepts gratitude in the form of real Lamborghinis or Porsches, steering clear of toys or digital renditions.
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