I tried to stake my bone token and they give you tbone as a receipt/representation in return for the tokens while you stake, but it’s recording big profits and losses which doesn’t seem right, here is an example:
Here is an explanation of what tbone does:
tBone, on ShibaSwap, refers to staked BONE tokens. Here’s a breakdown of the terms:
BONE: This is the governance token of the ShibaSwap decentralized exchange (DEX). It allows holders to vote on proposals and participate in the decision-making process of the Shiba Inu ecosystem.
Staking: This is a process where users lock their crypto holdings in a smart contract to earn rewards. In the case of ShibaSwap, users can stake their BONE tokens to earn rewards and participate in governance.
Therefore, tBONE is essentially a representation of staked BONE tokens. When you stake your BONE tokens on ShibaSwap, you receive an equivalent amount of tBONE tokens. These tBONE tokens represent your stake in the platform and entitle you to:
Earn rewards: You earn a share of the 1% of all BONE tokens distributed per block to users who have staked their BONE tokens.
Participate in governance: You can use your tBONE tokens to vote on proposals that affect the future of the ShibaSwap platform.
It’s important to note that tBONE tokens are not tradable on cryptocurrency exchanges. They are simply a representation of your staked BONE tokens and cannot be directly bought or sold.
So should it just be treated as a like for like transaction? And how could I fix this?
