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Shiba Inu Partner K9 Finance Launches KNINE Token, Sees Strong Start

K9 Finance DAO, a partner of the popular Shiba Inu meme coin, has officially launched its native token, KNINE, on cryptocurrency exchanges.

KNINE Now Available for Trading

  • K9 Finance announced the launch on Thursday via its official website and social media channels, sharing the official KNINE contract address.
  • Market tracking websites like CoinMarketCap confirm that KNINE is live for trading, with a market capitalization exceeding $14.12 million.
  • KNINE is currently trading around $0.0001782 on popular decentralized exchanges (DEXes) like Uniswap and Dodoex.io.

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Strong Early Traction

  • KNINE has attracted over 3,500 holders and recorded over 11,290 transactions within its first 24 hours.
  • Shiba Inu’s lead developer, Shytoshi Kusama, urged the community to be cautious and only use official sources for information due to potential scams surrounding the launch.

Safeguarding Against Scams

  • Before the official launch, fraudulent entities attempted to trick users by claiming KNINE was already trading on Uniswap and selling fake tokens.
  • The K9 Finance team deployed KNINE with a paused trading function. They recently activated trading after injecting $100,000 in liquidity to Uniswap.

Bullish Sentiment and Future Potential

  • The crypto community is showing bullish sentiment towards KNINE due to K9 Finance’s association with Shiba Inu. The token has reportedly surged over 240% since launch.

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K9 Finance: A Pillar of Shibarium

  • K9 Finance serves as an official liquid staking protocol on Shibarium, Shiba Inu’s upcoming blockchain.
  • It aims to establish core DeFi principles within the Shibarium ecosystem.
  • K9 Finance became a Shibarium validator last month, allowing users to earn BONE tokens through staking.

KNINE’s Role in K9 Finance DAO

  • The KNINE token governs the K9 Finance DAO, a decentralized autonomous organization.
  • KNINE holders can stake their tokens to earn DAO fees and real yield generated by validators.

The launch of KNINE marks a significant step for K9 Finance and reinforces its position within the Shiba Inu ecosystem. The token’s strong initial performance and its utility within the K9 Finance DAO suggest a promising future.

 


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