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Shiba Inu

Shiba Inu’s Staking Solution K9 Finance Unveils 2 Major Updates

Jake Simmons
by Jake Simmons
1 year ago
·
Posted in Shiba Inu
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

K9 Finance, the liquid staking solution for the Shiba Inu ecosystem, recently announced two major updates: a live demo for its Bone Crusher platform and its integration into Shibarium’s test network, Puppynet.

Shiba Inu’s Staking Solution Is Coming

The latest update from K9 Finance includes a detailed tutorial video that showcases forthcoming features set to enhance the Bone Crusher platform. This video serves as a preview, highlighting the capabilities that will be available with the mainnet release scheduled for the third quarter of this year.

In the video, K9 Finance demonstrates the new wallet connectivity feature that will allow users to link their digital wallets securely with the platform. This enhancement is designed to simplify transactions and interactions, thereby improving the user experience significantly.

Additionally, the upcoming update will introduce the platform’s staking functionality. Users will be able to stake BONE tokens directly through the platform. This feature is critical for the health and security of the network as it incentivizes user participation and contributes to the decentralized nature of the ecosystem.

Related Reading: Shiba Inu Whale Moves 1.7 Trillion SHIB As Price Struggles, Where Are They Headed?

The video also details the introduction of an advanced token swapping feature. This function will enable users to seamlessly swap knBONE tokens within the platform, offering them greater flexibility in managing their digital assets. The ease of token swaps is a crucial element in promoting a user-friendly DeFi environment.

Moreover, the update will enhance the platform’s reward system, enabling users to claim rewards in KNINE, BONE, and other tokens. This improved reward mechanism is designed to drive engagement and participation by providing users with diverse benefits and incentives.

⚙️Exclusive Product Update⚙️$BONE Crusher is our core product allowing #SHIBARMY supporters to delegate & earn from our validator(s) system

Highlights in this video👇

▶️Connect Wallet
▶️Stake BONE to secure @ShibariumNet
▶️Swap $knBONE
▶️Claim Reward(s) in $KNINE $BONE &… pic.twitter.com/mP7VpMqEDI

— K9 Finance DAO (@K9finance) May 6, 2024

Whitelisting On Shibarium’s Puppynet

Alongside the preview of the Bone Crusher update, K9 Finance has also been officially whitelisted on Shibarium’s Puppynet. This development extends the platform’s operational capabilities within the Shibarium ecosystem. With this whitelisting, K9 Finance can now distribute BONE rewards through its validator, increasing the attractiveness of holding KNINE tokens.

Related Reading: Dogecoin Holders In Profit across 82%, What About Shiba Inu?

The validator’s role is crucial not only for the distribution of rewards but also for enhancing the network’s security and promoting decentralization. These functions are vital for establishing a robust and resilient network capable of facing various operational challenges.

A particularly exciting feature announced in conjunction with this development is the introduction of the first and only liquid staking derivative for Shiba Inu on the testnet. This innovation adds a unique element to the ecosystem and may set a precedent for future developments in DeFi staking solutions.

K9 DAO roadmap for Q2 has been to build, deploy, and test on puppynet

Testnet deployment well underway & making excellent development strides https://t.co/d9tovnGa5Q

— Buzz.Shib | Shibarium (@buzzdefi0x) May 7, 2024

Buzz, the pseudonymous founder and lead developer of K9 Finance, expressed enthusiasm about these advancements, stating, “One small step towards crushing the FUD of ‘why isn’t KNINE on Shibarium’. FUD will be crushed with actions and building. Now live on Puppynet.”

At press time, Shiba Inu traded at $0.00002271.

Shiba Inu price
Shiba Inu price, 1-day chart | Source: SHIBUSD on TradingView.com
Featured image from Shutterstock, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Jake Simmons

Jake Simmons

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Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin's financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons.

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