K9 Finance Founder Explains Shibarium’s Absence from CoinGecko and K9 DAO’s Plan to Boost Visibility

May 17, 2024
image from K9 Finance

In a recent statement, K9 Finance’s pseudonymous founder Buzz revealed why Shibarium, the layer-2 scalability solution of Shiba Inu, is missing from CoinGecko’s listings and detailed K9 DAO’s strategy to enhance its visibility. Buzz emphasized the need to increase Shibarium’s total value locked (TVL) to ensure its inclusion on key aggregation lists, thereby attracting more buyers, users, and developers to the growing platform.

In a recent post on X (formerly Twitter), K9 Finance DAO highlighted the reasons behind Shibarium’s omission from CoinGecko’s list, despite its impressive performance metrics. The DAO noted that Shibarium boasts over 200 Transactions Per Second (TPS), which would rank it fourth highest on the list. However, the chain was excluded because “the study only analyzed the top-30 blockchains ranked by Total Value Locked (TVL) by @DefiLlama.”

The post further explained that part of K9 DAO’s mission is to address this issue through a robust Liquid Staking Derivative (LSD) model aimed at increasing Shibarium’s TVL. “We want to grow the TVL on Shibarium & are committed to being trailblazers on the network,” the post stated.

Additionally, K9 Finance DAO emphasized that TPS is not the sole metric for ranking blockchains, pointing out that Shibarium also scores high in latency, throughput, security, decentralization, and interoperability. “With the power of the #ShibArmy & the #K9Unit, we’re committed to growing Shibarium. The work of @ShytoshiKusama, @kaaldhairya, & others deserves recognition on these lists,” the post continued.

The X post was retweeted by K9 Finance’s pseudonymous founder Buzz, who further elaborated on Shibarium’s omission from CoinGecko’s listing. He expressed his frustration and provided insights into the issue. “It kills me to not see Shibarium on lists like this,” Buzz remarked. “We are not on it due to not being in the top-30 chains according to TVL and @K9finance is a direct solution to improve this metric for Shibarium to show up in more of these aggregation lists.”

Buzz highlighted the importance of these lists, noting that “buyers, users, and developers scan these lists and use them as research to decide on new chains to use, build on, and put their capital into.” He emphasized the broader benefits of increasing Shibarium’s TVL, stating, “A rising tide lifts all boats, and K9 DAO benefits greatly with the further adoption of Shibarium – it is something we inherently believe is incredibly undervalued and ripe for opportunity. All other Shib-related projects benefit from a higher TVL on Shibarium as well.”

Moreover, the founder acknowledged the contributions of other projects in enhancing Shibarium’s visibility. “K9 DAO is not the only product that is helping improve this message for more L2 visibility. Shibaswap’s migration this week, coupled with the great work of other builders such as @woofswap, @ChewySwap, @marsswap, @SharbiToken, and more, are all helping to bring more on-chain value to Shibarium to give the chain more visibility for growth,” he concluded.

In recent developments, Shibarium has successfully completed a hard fork and integrated Shiba Inu’s decentralized exchange, ShibaSwap. These advancements are expected to significantly increase Shibarium’s TVL and overall visibility, positioning it for future growth and recognition on major aggregation lists.

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