K9 Finance DAO, a pioneering decentralized autonomous organization dedicated to advancing decentralized finance (DeFi) solutions, proudly announces the successful launch of its validator on the Shiba Inu Layer 2 (L2) mainnet. Concurrently, the DAO introduces its KNINE token on the Shibarium blockchain, leveraging the official ShibaSwap platform for liquidity and trading.
Integrating K9 Finance DAO’s validator and KNINE token on Shibarium signifies a significant milestone in the organization’s mission to democratize finance within the Shiba Inu ecosystem. The project is an official Shiba Inu partner project as the official liquid staking solution for the Shib blockchain.
Strategically preparing for this advancement, K9 Finance DAO has diligently acquired BONE tokens, the native gas token of the blockchain, over the past three months, ensuring seamless operations and enhanced network efficiency. The rationale behind these purchases is that the BONE token is required for optimal rewards from the K9 Finance DAO validator and for DAO on-chain liquidity.
“With the launch of our validator and KNINE token on Shibarium, we are thrilled to contribute to the growth and accessibility of decentralized finance within the Shiba Inu community,” said Buzz, a representative from K9 Finance DAO & Shiba Inu Developer Advocate. “Our mission is to bring robust DeFi solutions to Shibarium, fostering innovation and encouraging more DeFi development within the Shib ecosystem.”
In anticipation of further developments, K9 Finance DAO had teased a significant announcement scheduled to coincide with the ETHToronto & Futurist conference in Toronto, Canada, on August 13th. This upcoming revelation has sparked intrigue and speculation across the blockchain community, underscoring K9 Finance DAO’s commitment to ongoing innovation and partnership within the blockchain space. Serendipitously, Shiba Inu launched their blockchain (Shibarium) in the same stage 1 year ago, where Shytoshi Kusama (a key advisor to K9 Finance DAO) spoke publicly for the first time. K9 DAO is also leading the ETHToronto hackathon to encourage more builders to bring other DeFi solutions to SHIB.
“K9 Finance DAO is a beacon for developers and builders to come to Shibarium and support Shib” – Shytoshi Kusama.
Lucie Shib, Marketing for Shiba Inu, expressed enthusiasm about the collaboration: “We are delighted to welcome K9 Finance DAO as the official liquid staking partner of Shibarium. Their dedication to enhancing DeFi capabilities aligns perfectly with our vision to expand the Shiba Inu ecosystem’s functionality and accessibility.”
K9 Finance DAO is poised to introduce its liquid staking product on Shibarium in the third quarter of this year (Q3). Their product is akin to Lido Finance but for the Shib ecosystem. This initiative aims to provide KNINE token holders with additional liquidity options, further enhancing the utility and value proposition of the Shiba Inu blockchain.
Shiba Inu was launched by an anonymous developer named Ryoshi, who published what has become the Shiba Inu roadmap, titled the Woof Paper. In these papers, the visionary outlined the long-term goals of SHIB, which included a global conference presence, a layer 2 blockchain, a swap platform, and advanced DeFi solutions. K9 Finance DAO is carrying out this vision for DeFi for Shiba Inu.
The $KNINE token went live on March 7th 2024. The project was also featured on ApeTerminal for IDO. The launch was monumentally successful, with the price rising 30x from the initial launch, gaining 8,000 holders over the first few days, and being featured in global news & TV channels alongside Shiba Inu. The full potential of K9 DAO has yet to be revealed before their product launch. With the product release later this year and the completion of the initial roadmap, the K9 Finance DAO is poised to become critical infrastructure for the Shiba Inu DeFi ecosystem.
A representative for K9 Finance DAO indicated privately that major roadmap plans for 2025 have yet to be announced. These plans may include cross-chain expansion and increasing the scope of the K9 Finance DAO mission to assist with scaling its robust infrastructure.
For more information about K9 Finance DAO’s initiatives and updates:
Official K9 Finance Website | Twitter/X | Telegram
About K9 Finance DAO:
K9 Finance DAO is a decentralized autonomous organization committed to democratizing finance through blockchain technology. By leveraging decentralized governance and innovative solutions, K9 Finance DAO aims to bring robust DeFi solutions to the Shiba Inu ecosystem.
About Shiba Inu:
Shiba Inu is a decentralized meme token that has evolved into a dynamic ecosystem. With its decentralized exchange, ShibaSwap, and artist incubator platform, ShiSwap, Shiba Inu aims to foster a community-driven decentralized ecosystem.
Contact:
For media inquiries or further information, please contact:
K9 DAO Operations
Email: ops@k9finance.com
Disclaimer:
This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. Readers should conduct their research and due diligence before making investment decisions.
Source: Bitcoin
