K9 Finance, the official liquid staking protocol for the Shiba Inu Shibarium blockchain, has been listed on DeFiLlama, the largest TVL aggregator in the DeFi space.
K9 Finance shared this milestone on its official X channel, generating positive feedback from its community. This development allows users to monitor K9 Finance’s activity directly through the DeFiLlama dashboard, reflecting a growing interest in the protocol.
K9 Finance’s page on DeFiLlama highlights the project’s current financial metrics. The total value locked (TVL) within the platform stands at $1.05 million, which indicates the number of assets secured in its smart contracts.
The staked amount of its KNINE token is estimated at $169,860, demonstrating active user participation in liquidity and mining activities.
Increase following the launch of Liquid Staking
This news comes just days after the official release of Shiba Inu’s X account recognized K9 Finance’s achievements in the DeFi space, highlighting the growing public interest in the platform’s offerings.
Notably, on September 18, K9 Finance launched the Bonecrusher liquid staking solution on Shibarium, allowing users to stake ShibaSwap Bone (BONE) tokens for yield opportunities.
In just 48 hours after launch, 2.5 million BONE tokens were staked through the new solution, with $1.5 million staked in knBONE token farming. This solution offers an APR of 33.6% for BONE staking, presenting a competitive staking option within the ecosystem.
Despite the growing popularity, there is some confusion about the scope of the K9 Finance ecosystem. In late August, Shiba Inu lead developer Shytoshi Kusama, sent a comment from the co-founder of K9 Finance about the association between K9 Finance and the Shiba Eternity game.
Kusama clarified that Shiba Eternity is not part of the K9 ecosystem, contradicting previous statements by K9 Finance co-founder Buzz. This clarification comes after Buzz participated in a community-led live stream showcasing the Bonecrusher testnet. The stream highlighted the progress of K9 Finance’s liquid staking project ahead of its official launch.
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