- Shiba Inu developer warns against trading Calcium token meant for renouncing BONE token. contract.
- Calcium token has no real liquidity and is not intended for trading.
- The developer dismissed claims of financial loss due to Calcium trading as FUD.
Kaal Dhairya, one of the developers behind Shiba Inu (SHIB), has issued a cautionary message to the SHIB Army regarding the recent introduction of the Calcium token, specifically designed to mint and renounce the BONE token contract.
This advisory comes in response to mounting concerns that certain community members, lacking sufficient information, may be trading the token, or potentially even a counterfeit version, to generate profit.
As previously mentioned in the screenshot below, we are in the process of renouncing BONE. Please do not buy or trade the Calcium token (seriously), there is no liquidity and claims of large losses are FUD. PLEASE READ : https://t.co/BgNsdLMUop pic.twitter.com/1pxoaK4A12— Kaal (@kaaldhairya) September 21, 2023
Previously, the Shiba Inu development team unveiled a detailed blog post, shedding light on renouncing the contract for Bone. To provide some background, “contract renouncing” involves the transfer of ownership of the Bone staking contract to a decentralized autonomous organization (DAO). This transfer signifies that the entity issuing BONE will relinquish its control, leading to Bone becoming a trustless and completely transparent entity.
The central element of the procedure revolves around the Calcium token, which the team intends to employ for both the minting and renunciation processes. As stated in the blog post, Calcium serves solely as a placeholder token devoid of real liquidity. The blog post emphasized the importance of investors refraining from trading it.
Despite the explicit warning, there have been ongoing instances of individuals expressing interest in trading the token within the community. In the most recent update, Dhairya emphasized that the Calcium token is strictly not intended for trading.
As per the post, individuals attempting to sell the token are likely attempting to deceive unsuspecting investors. Furthermore, Dhairya refuted any ongoing assertions of substantial losses incurred by investors in connection with the token. He dismissed such claims as FUD.
The post SHIB Army Urged to Exercise Caution and Avoid Trading Calcium Token appeared first on Coin Edition.