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Shib x K9 Finance: A DeFi Movement
06 Feb 2024
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4 min read
An introduction of the next-gen DeFi infrastructure that aims to advance DeFi technology on Shibarium

“Dogs aren’t just man’s best friend. They’re your financial protectors.” – K9 Finance

K9 Finance is to Shibarium what Lido is to Ethereum. The same technology – but even better – is now part of the Shib network. Join us in exploring the benefits and opportunities awaiting users and developers on Shibarium with K9 Finance.


Bringing Real Yield to Shibarium

K9 Finance is a liquid staking derivative (LSD) platform and DeFi infrastructure on Shibarium that provides a seamless way for users to get rewards on their digital tokens through Real Yield.

Here’s how it works: By staking $BONE with K9 Finance, your tokens will remain liquid and can be used across a range of DeFi applications. You can earn extra rewards in various ways and actually experience the benefits of loyalty and blockchain adoption.

As an official Shibarium partner and validator, K9 Finance rewards $KNINE token holders with $BONE earned from validating blocks. Truly an innovator in its own right, this public piece of infrastructure plays an important role in driving the network and the community forward.

Providing Liquid Staking Solutions

What are LSDs for? Why does a layer 2 like Shibarium need this DeFi infrastructure?

When you stake in projects that use Proof-of-Stake (PoS) protocols, your crypto assets are typically locked in one project for prolonged periods in exchange for a fixed staking reward – usually a percentage of the staked tokens. While this approach ensures returns, the potential for generating higher returns from the DeFi ecosystem is limited. For example, if your BONE is delegated to a validator, your BONE is locked for a predetermined reward and you can’t use it anywhere else. So, if you have staked all of your crypto holdings, you won’t be able to invest or trade in more profitable crypto pairs on exchanges.

This is where K9 Finance comes in. With liquid staking, your staked tokens can be used in other trading and DeFi platforms so you can get the best of both worlds: a reward on your staked tokens and returns from other trading opportunities. K9 Finance’s liquid staking token, knBONE, can be used to generate yield while delegating to their validator.


Liquid Yield. Generated by Shibarium. Governed by Dogs.
It’s a win-win situation where the mechanism promotes security while simultaneously driving more value to the Shibarium blockchain through liquid staking.

The First Building Block of DeFi on Shibarium

As mentioned earlier, what we’re seeing here in terms of building the foundation for DeFi in the Shib ecosystem is similar to what we saw Lido, Aave, and Curve do for Ethereum. Lido recently reached an all-time high of $22 billion in TVL, and there is an opportunity to drive some of that volume to Shibarium. In the same way that Lido provides an alternative to PoS staking, K9 Finance is bringing the first building block that developers can use to start building on top of the infrastructure to create a thriving DeFi ecosystem.

This means:

More value = more transactions and volume for all projects

Increased volume and total value locked (TVL) on Shibarium translate to more burns of $SHIB and $BONE. This is how the entire ecosystem can benefit from this partnership.

K9 Finance can also effectively simplify the staking process and offer an alternative to exchange staking, solo staking, and other semi-custodial and decentralized protocols.

Community Governance: The Mandate

The K9 Finance DAO members ensure the decentralized and collective management of the code within its jurisdiction. It also constitutes the Roundtable of Dogs which will act as a layer of security and will be responsible for monitoring transactions. The mandate of the elected council is to cultivate DeFi technology on Shibarium. This means we could soon see different DeFi products and applications being ushered into the blockchain and adopted by its users. The DAO members must own KNINE tokens to become part of the DAO.

Shib x K9 Finance: Shaking Paws in a Dog-Eat-Dog World

K9 Finance’s governance token is set to launch in early March, while the Roundtable of Dogs is currently being assembled and will be announced in the near future.

This partnership and establishment as an official Shib project is a testament to the power of a shared vision for a decentralized ecosystem. With an infrastructure governed by dogs on a network backed by an entire army of SHIB holders and supporters, this could be the forerunner that will shape the future of DeFi.

Useful Links:

Website: https://www.k9finance.com

Twitter:   / k9finance  

Telegram: https://t.me/k9finance

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