Shiba Inu Lead Reacts as K9 Finance Explains How Its Project Can Boost Shibarium TVL
K9 Finance, Shibarium’s latest partner, aims to boost the Total Value Locked (TVL) of Shibarium through its liquid staking platform. The Shiba Inu community has staked around 35.5 million BONE tokens (valued at $22 million) on ShibaSwap and Ethereum, earning less than 5% APY. K9 Finance’s analysis suggests that BONE stakers could earn higher yields by staking on their platform, receiving a liquid staking token, knBONE, representing the exact value of their stakes. If all users stake the total 35.5 million BONE on K9, it could contribute $22 million to Shibarium’s TVL. The analysis speculates a potential 50X increase in Shibarium’s TVL if the Shiba Inu community reaches the industry average of $50 million. Currently, Shibarium’s TVL has risen over 30%, reaching $1.32 million, with K9 Finance preparing to launch its native token, KNINE, on March 7.
Note🚨: this is not a financial advice, DYOR
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