Shib Army News: K9 Finance’s Visionary Leap: Steering Shibarium Towards Uncharted Territories

As the L2 Shibarium continues to grow and evolve K9 Finance stands at the brink of a significant leap forward with its upcoming Token Generation Event (TGE). Scheduled for March 7, around noon EST, this event is not merely about the introduction of a new token but marks a strategic pivot towards enhancing liquidity, yield prospects, and community engagement within Shibarium.

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At the helm of K9 Finance’s pioneering efforts is Buzz, a developer whose foresight and leadership have been instrumental in positioning the platform at the forefront of liquid staking derivatives (LSD). Buzz has shared insights into the TGE’s profound impact on Shibarium, emphasizing its role in K9 Finance’s commitment to transparency, security, and inclusivity.

Ape Terminal IDO #15 ?
K9 Finance – @K9finance

K9 Finance is the 1st major DeFI activation on Shibarium, with full official support from the Shiba Foundation ($SHIB) and team.

Shibarium is the layer-2 being developed by the SHIB team to open new opportunities for the memecoin… pic.twitter.com/spjvbd2NeQ

— Ape Terminal (@apeterminal) March 2, 2024

The $KNINE token’s debut is a milestone that is set to transform the Shibarium ecosystem fundamentally. The token event signals its initial offering to the public and will mark the project’s progression from an original idea to full-blown reality. It’s a testament to blockchain’s power to foster transparency and security, laying a foundation for community support and innovation.

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The TGE of $KNINE will feature an exclusive launch on Uniswap, pairing ETH with KNINE. The key details such as the official contract addresses will be shared through K9 Finance’s website and verified accounts. The initial offering will see just 8.5% of tokens available, aiming for an initial market cap of $850,000.

We have learned more about the significance of owning $KNINE tokens and their role in engaging with K9 Finance’s ecosystem, participating in its DAO, and unlocking real yield through staking when K9’s products launch in Q3. These tokens are not just a part of the ecosystem but are crucial for accessing various features and services K9 Finance offers.

The introduction of $KNINE is expected to spur activity within Shibarium by unlocking liquidity and fostering the development of lending/borrowing and perpetual products atop K9 Finance. This in turn will boost DeFi activity, increase $BONE usage for gas, and lead to more SHIB being burnt, enhancing Shibarium’s utility and appeal while keeping true to the core vision of the Shib Amry.

K9 Finance’s liquid staking solution promises to unlock nearly $50 million in liquidity, pushing Shibarium towards industry standards and opening new avenues for growth and accessibility. This in turn could potentially help to address liquidity challenges for the ecosystem.

Unique from other liquid staking solutions, K9 Finance directly impacts Shibarium’s Total Value Locked (TVL) without the need for bridging. This approach simplifies the user experience and increases efficiency within the ecosystem.

In a tweet aimed to answer one of the most common questions that Buzz receives “How Big is K9Finance for the Shib Ecosystem but more specifically $BONE and Shibarium?” he said the following.

Common question I get is "how big can @K9finance be for @Shibtoken" but more specifically $BONE & #Shibarium

Let's break it down

Note: these metrics are rough estimates $BONE delegated on ETH = 24 million$BONE staked on @ShibaSwapDEX on ETH (no APY) = 11.5 million
Average %…

— Buzz.Shib | Shibarium (@buzzdefi0x) February 26, 2024

“Let’s break it down

Note: these metrics are rough estimates

$BONE delegated on ETH = 24 million
$BONE staked on
@ShibaSwapDEX
on ETH (no APY) = 11.5 million
Average % of L2 token used to delegate on other chains = 30%
% of BONE delegated NOW = 10%

So to summarize:

– there is currently 35.5 million BONE currently delegated / staked ($22 million USD)
– these stakers / delegators on average earn < 5%
– these stakers / delegators (when K9 launches) could immediately use K9 and get more yield + a liquid staking token, that will represent that $22 million of TVL directly on Shibarium

Now, imagine we (as the Shibarium community) were to reach industry averages.

$BONE mCap as of today is approx $155M”

If we can reach just the industry average that is $50M of BONE that can be used within the K9 platform, which in turn would mint $50M of $knBONE directly on Shibarium for immediate liquidity to Shibarium

Right now the Shibarium TVL is just above $1m – this would be a 50x in TVL just for hitting industry-standard metrics

I’m making myself bullish for #Shibarium!”

The choice to launch $KNINE on Ethereum, before bridging to Shibarium, is strategic. It leverages Ethereum’s Proof-of-Stake architecture to facilitate essential functionalities for Shibarium, ensuring a seamless and secure interplay between the two platforms.

As K9 Finance embarks on its TGE, it’s clear that the event is more than just a token launch, it’s a step towards revolutionizing Shibarium’s liquidity, engagement, and overall potential. Buzz’s vision for K9 Finance and Shibarium reflects a commitment to progress and innovation, aiming to redefine the landscape of decentralized finance.