Shiba Inu’s K9 Finance Announces Three-Phased Launch for Liquid Staking Platform
K9 Finance, a partner within the Shiba Inu ecosystem, has revealed a three-stage rollout plan for its liquid staking platform on Shibarium. This roadmap highlights K9’s commitment to enhancing Shibarium’s decentralized finance (DeFi) offerings.
Three Stages for K9 Finance Launch
Shiba Inu’s community magazine, SHIB, unveiled K9 Finance DAO’s roadmap, detailing the upcoming launch phases. The highly anticipated mainnet launch of K9’s decentralized application (dApp) will occur throughout 2024.
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The first phase, dubbed “Hesper,” is scheduled for late Q2. Named after ancient dog ancestors, Hesper represents the foundational beta version of the K9 dApp. This initial stage prioritizes rigorous testing within Shibarium to ensure future functionality and scalability.
By Q3, K9 plans to deploy the second phase, codenamed “Boro,” inspired by the powerful “bone-crushing dog” Borophaginae. This stage signifies the release of the functional K9 staking dApp on Shibarium’s mainnet. Upon launch, users can swap their staked Bone ShibaSwap (BONE) for K9’s liquid staking token, knBONE.
The final stage, “Caninae,” targets Q4 2024 and embodies the adaptability of modern canines. This phase represents the completion of K9 Finance’s vision: a fully decentralized liquid staking derivative product on Shiba Inu’s L2 blockchain. K9 Finance emphasizes Caninae as “the realization of a vision” for DeFi innovation.
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Sneak Peek of K9 dApp
K9 co-founder Buzz unveiled a glimpse of the dApp, showcasing its staking model. Users delegating BONE tokens will receive dual rewards. Firstly, they’ll earn esKNINE tokens, convertible to K9’s governance token, KNINE. Secondly, users can acquire K9 partner tokens through boosted campaigns.
K9 DAO product sneak peek #2 👀
These components show the user interface for farming rewards using $BONE & $knBONE (the K9 LSD token that is pegged 1:1 to $BONE through the K9 product)
Users will be earning in 2 ways through this process alone
1. Earning $esKNINE that… https://t.co/BnpcFZryPE pic.twitter.com/HsPOUGnWh3
— Buzz.Shib | Shibarium (@buzzdefi0x) April 3, 2024
This news comes after the Shiba Inu team officially partnered with K9 Finance for liquid staking in February. The partnership strengthened last month with the appointment of prominent SHIB developers, Shytoshi Kusama and Kaal Dhairya, as K9’s technical advisors. While the project’s KNINE token launched on Uniswap last month, its price has experienced a slight decline in the last 24 hours.
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