The Shiba Inu team recently highlighted Shibarium’s new partnership with K9 Finance, which aims to make BONE staking easier and more seamless.
Shiba Inu recently partnered with K9 Finance, a leading Liquid Staking Derivatives (LSD) platform, to enable seamless BONE staking on Shibarium, its Layer 2 solution. The Shiba Inu team is optimistic about this collaboration, anticipating the launch of liquid staking derivatives on Shibarium. LUCIE, a key member of the team, expressed confidence in a more efficient and flexible BONE staking process, boosting optimism for SHIB tokenomics. In response to the partnership, BONE, the flagship token of the Shiba Inu community, surged significantly, highlighting the focus on BONE staking.
Shiba Inu’s Collaboration with K9 Finance Enhances BONE Staking on Shibarium
As per LUCIE’s post, the recent partnership with K9 Finance focuses on critical aspects related to BONE. One key objective is to simplify BONE staking on Shibarium by allowing users to delegate BONE tokens to a Validator node, thereby enhancing security for the Shiba Inu L2 network.
Another aim is to introduce KnBONE tokens alongside BONE rewards. These tokens represent staked BONE assets and can be freely traded before the unstaking period.
Moreover, KnBONE tokens offer additional utility within Shibarium’s decentralized exchange (DEX), enabling users to engage in asset trading, NFT minting, liquidity provision, and more. When users wish to undelegate their BONE tokens, they can return the equivalent amount of KnBONE tokens.
ShibaSwap BONE Price Surges Amid Partnership Optimism
At present, the price of ShibaSwap’s BONE token has surged by 9.19% in the last 24 hours, reaching $0.6013. This notable increase in the flagship token’s value appears to be directly linked to the recent partnership announcement, sparking optimism within the market for the token’s future prospects.
On the other hand, Shiba Inu’s price has experienced significant volatility, with a slight 0.21% decrease in the past 24 hours. Currently trading at $0.000008831, SHIB’s market cap stands at $5.21 billion.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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