CandleFocus K9 Finance Unveils Liquid Staking on Shibarium, Enhancing SHIB Burn Rates
2024-09-19
Author: Content Editor
K9 Finance plans to launch its Shibarium liquid staking platform, allowing users to stake BONE tokens and expand the Shiba Inu ecosystem. The launch is expected to increase the total value locked and transaction volume within the network, impacting SHIB's burn rate. Burning SHIB tokens is crucial for the token's value, and the liquid staking feature may accelerate burn events by bringing in more investors. Recent burn activity has been viewed positively by the community, reducing inflation pressure. Liquid staking is also expected to enhance network security and increase investor trust. However, recent burn events have caused a decrease in SHIB's price, although increased staking activity suggests a potential recovery. If liquid staking becomes widely adopted, it could fuel a stronger price rally for SHIB and support the ecosystem's deflationary goals.
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