K9 Finance’s launching liquid staking on Shibarium could dramatically increase SHIB burns and BONE staking.
The recent 3,348% surge in the SHIB burn rate highlights the token’s deflationary potential.
Liquid staking boosts Shibarium’s TVL and transaction volume, directly fueling SHIB’s burn mechanism.
K9 Finance, the official liquid staking platform for Shibarium, is set to launch on September 19. The platform will enable liquid staking for BONE tokens, which is expected to boost SHIB’s burn rate by increasing both total value locked (TVL) and transaction volume on the Shibarium network.
This development is significant for the Shiba Inu ecosystem, as burning SHIB tokens is a key mechanism for reducing the total supply and potentially driving up the token’s value. By increasing the total value locked (TVL) on Shibarium, liquid staking could attract more investors and boost the network’s overall security. Coupled with a rise in transaction volume on Shibarium, the burn rate for SHIB could see a dramatic increase.
SHIB’s Burn Rate Surges 3,348%
Burning SHIB tokens bears a direct effect on reducing the total supply, which in turn could drive up its v…
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