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.
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.
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.
Featured image from Shutterstock, chart from TradingView.com
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