The official Twitter account of Shiba Inu's ecosystem team celebrated the successful first 48 hours of K9 Finance's Liquid Staking and Derivative (LSD) platform. K9 Finance launched its liquid staking solution, called Bonecrusher, on Shibarium, allowing users to stake their BONE tokens. Within 48 hours, users staked 2.5 million BONE tokens, and the number of staked BONEs has now reached 2.53 million. Users also staked $1.5 million to farm the liquid staking token, knBONE. The K9 founder confirmed that 50% of the total circulating supply of KNINE has been locked for an average of 10.5 months. With this achievement, K9 Finance is now Shibarium's biggest DeFi protocol by total value locked. In addition, the launch of Bonecrusher has resulted in an 82% increase in Shibarium's transaction volume. The impact of burning SHIB, which reduces Shiba Inu's circulating supply, is expected to boost the value of the remaining tokens. Overall, Bonecrusher's debut is seen as a notable milestone for the Shiba Inu project.



Other News from Today