Shiba Inu Partners with K9 Finance for BONE Staking on Shibarium
Shiba Inu, a popular meme coin on Ethereum, has formed a partnership with K9 Finance to enable seamless BONE staking on its Layer 2 platform, Shibarium. The Shiba Inu team is highly optimistic about this collaboration and anticipates the launch of liquid staking derivatives on Shibarium. They aim to create a more efficient and flexible BONE staking process, which will benefit the SHIB tokenomics.
Key Details Highlighted by Shiba Inu’s LUCIE
LUCIE, a prominent member of the Shiba Inu team, shared some key details about the partnership. The primary objective is to offer hassle-free BONE staking on Shibarium by delegating tokens to a Validator node, ensuring the security of the Shiba Inu Layer 2. Additionally, KnBONE tokens will be introduced as a representation of staked BONE assets, allowing for trading and other activities on Shibarium’s DEX.
BONE Price Surges Following Partnership
The price of BONE, the flagship token associated with the Shiba Inu community, has experienced a significant surge in response to the partnership announcement. Currently trading at $0.6013, the ShibaSwap BONE price has increased by 9.19% in the past 24 hours. On the other hand, the price of SHIB has been more volatile, with a slight decline of 0.21% in the past day.
Hot Take: Promising Future for Shiba Inu and BONE Staking
The partnership between Shiba Inu and K9 Finance opens up exciting possibilities for BONE staking on Shibarium. With a focus on efficiency and flexibility, this collaboration aims to enhance the tokenomics of SHIB. The surge in BONE’s price indicates market optimism for this development, while the volatility of SHIB suggests ongoing fluctuations in the broader crypto market. As Shiba Inu continues to innovate and expand its ecosystem, the future looks promising for both the project and its community.
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