Shiba Inu, the meme-turned-crypto-powerhouse, is upping its game. The project's marketing lead, Lucie, spilled the beans on Thursday. Liquid staking is coming to Shibarium, their layer-2 solution. Mark your calendars for September 18th.
This isn't just another crypto gimmick. It's a big deal for SHIB holders. Shibarium aims to tackle the scalability issues plaguing many blockchain networks. It's all about faster, cheaper transactions.
K9 Finance is the brains behind this operation. They're Shibarium's go-to for Liquid Staking Derivatives (LSD). Don't get it twisted – we're not talking about the psychedelic kind.
Here's the lowdown: users can stake their BONE tokens through K9 Finance. In return, they get knBONE. It's like a tradable IOU for your stake. You can use it, trade it, or even use it as collateral elsewhere.
The big dogs got first dibs on testing. Whales with at least 400 million KNINE DAO tokens were invited to the party in late July. They've been staking BONE, earning knBONE, and raking in extra rewards.
Now, the gates are open to everyone. The testnet is live, and anyone can give it a shot. It's a chance to kick the tires before the main event.
September 18th marks phase two of the project. They're calling it 'Boro'. It's named after some extinct bone-crushing dogs. Fitting, right? This is when the real action starts on Shibarium.
But wait, there's more. Phase three, 'Caninae', is slated for Q4 2024. It'll bring a V2 launch and promises to be the "modern expectation of a fully decentralized liquid-staking derivative product". Whatever that means.
Let's not forget about KNINE. It's K9 Finance's governance token, launched back in March. You could only grab it on Uniswap initially. Talk about exclusive.
So, what's the big picture? Shiba Inu is trying to shake off its meme coin image. They're diving headfirst into DeFi. Will it work? Who knows. But one thing's for sure – the crypto world is watching.