K9 Finance Announces Major Update, Hailing ‘A Win for Decentralized Infrastructure on Shibarium’

May 14, 2024

K9 Finance has announced a significant update to its mobile liquid staking app, Bone Crusher, marking a major milestone in the enhancement of decentralized infrastructure on the Shibarium network. 

The official X account of K9 Finance DAO announced Tuesday a major development update of its product Bone Crusher. The update, hailed by the team as “A win for decentralized infrastructure on Shibarium” to support Shiba Inu, now has its own administrative panel.

K9 Finance revealed a significant product update that enhances the capabilities of its decentralized autonomous organization (DAO). This new administrative panel equips the DAO with the ability to adjust fee structures for both DAO and user rewards, increase and add staking pools and rewards, and manage the Node Operator Registry. 

These improvements are expected to optimize the network’s economic incentives, expand staking opportunities, and ensure robust management of node operators, contributing to the overall efficiency and security of Shibarium.

Buzz, the pseudonymous co-founder and developer of K9 Finance, highlighted the significance of the update, emphasizing the empowerment of the DAO. According to Buzz, “Why is this important? It gives the DAO the flexibility to vote to change many parameters of how the product is built so that there is no reliance on one single person or group who understands the codebase. It ensures that once BONE Crusher is live, it can truly be in the hands of the DAO.”

Just last week, K9 Finance unveiled the Bone Crusher update, sparking excitement among its supporters. This update underscores the platform’s commitment to enhancing user experience and expanding its capabilities.

Accompanied by an instructive video tutorial, the update offers a comprehensive guide to the new features, including seamless wallet connectivity, BONE token staking, knBONE token swapping, and reward claiming in KNINE, BONE, and other tokens. The tutorial ensures that users can easily navigate and utilize these new functionalities, reflecting K9 Finance’s dedication to user education and engagement.

In addition to the immediate improvements, the Bone Crusher update hints at future developments aimed at further advancing the platform’s capabilities. Notably, it teases the introduction of liquid staking, aligning with the platform’s DAO mission to decentralize control and empower the community.

These updates not only enhance the operational efficiency and flexibility of the Shibarium network but also reinforce K9 Finance’s vision of a more inclusive and participatory DeFi ecosystem.

K9 Finance proudly stands as the official partner of Shiba Inu, serving as the designated liquid staking derivative platform on Shibarium. This partnership underscores K9 Finance’s pivotal role in the Shib ecosystem, providing users with advanced staking options and seamless integration with Shibarium.

Additionally, K9 Finance operates as a validator on Shibarium, further solidifying its commitment to maintaining the network’s integrity and security. Through its comprehensive suite of dependable services and infrastructure, K9 Finance continues to drive innovation and foster a more decentralized and user-centric financial environment within the Shib community.

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