The post Shiba Inu Prepares for Liquid Staking Launch on Shibarium, Date Announced appeared on BitcoinEthereumNews.com.

Shiba Inu will launch liquid staking on the Shibarium network on September 18, enhancing token flexibility. Users can stake BONE tokens through K9 Finance and receive knBONE, a tradable token representing their stake. The Shiba Inu community is preparing for the launch of liquid staking on the Shibarium network, which is expected to occur on September 18. According to Shiba Inu marketing lead Lucie, this is a significant milestone in the growth of the Shiba Inu ecosystem. Liquid staking is made possible through K9 Finance, the LSD platform in the ecosystem.  https://Twitter.com/LucieSHIB/status/1824006897520832972v Shibarium, which is a layer-2 solution for Shiba Inu and other tokens, is now at a crucial stage with the integration of liquid staking. Soon, users will be able to stake their BONE tokens through K9 Finance and receive knBONE, a liquid staking derivative token. In contrast to conventional staking, in which users lose the ability to trade their assets, knBONE enables users to retain liquidity. This token serves as a tradeable certificate of ownership of the user’s stake and can be traded or used as security in other DeFi protocols.  Liquid staking allows users to participate in other activities without being tied up with their resources. It also opens the door for more money to be earned through DeFi platforms, which is always a positive aspect of the Shiba Inu ecosystem.  BONE Crusher Feature Undergoes Testing with Large Token Holders The testing of the BONE Crusher feature, which is one of the most important components in the liquid staking system, started in the last week of July. In this phase, individuals with at least 400 million KNINE DAO tokens were allowed to participate in the staking process as large-scale token holders referred to as ‘whales.’ These participants could deposit BONE and farm knBONE and get extra bonuses…

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Filed under: News - @ August 19, 2024 9:24 am