Exclusive: K9 Finance Founder Reveals What’s Next After ETHToronto Hackathon Champions’ Announcement

Fresh off the heels of their ETHToronto hackathon bounty success, K9 Finance is setting its sights on nurturing the burgeoning Shibarium developer ecosystem.

In an exclusive interview, Buzz, the psuedonymous founder and developer of K9 Finance, the official liquid staking derivatives platform on Shibarium, outlined the DAO’s vision for the future, highlighting the critical role community-driven development plays in their roadmap.

“Our mission and vision is to bring DeFi to Shib via Shibarium. These projects are more builders to come to the ecosystem from the areas of education & DeFi,” Buzz said, referring to the winners and participants at the recent 2024 ETHToronto K9 FINANCE DAO BOUNTY initiative. “It’s great to see more builders deploying on Puppynet. As we begin to train the next generation of Shibarium developers it’s important to welcome & embrace them to the ecosystem,” he added.

The ETHToronto hackathon showcased the innovative potential of the Shibarium ecosystem, with three winning projects – Chewy Launchpad, ShibaQuests, and the Shibarium Voting DAPP – demonstrating groundbreaking solutions built on the layer-2 scaling solution for Shiba Inu. K9 Finance recognized these projects not just as individual achievements, but as vital contributions towards fostering a vibrant and self-sustaining developer community.

“It’s up to these projects themselves to continue their work on Shibarium after the hackathon, but K9 Finance DAO will provide the guidance as much as we can in terms of advisory to encourage them to do this. We want to shepherd the next generation onto the chain,” the K9 Finance founder shared.

Beyond the hackathon, K9 Finance is taking a multi-pronged approach to cultivating this community. “We have prioritized strong documentation for our product. Our product launch is September 18th, so it’s early to speculate on which builders may be waiting to build on top of K9 Finance DAO,” Buzz revealed.

He further emphasized their commitment to nurturing emerging talent: “We must be ready to pass the torch to the next generation of Shibarium builders who will have even more energy, ideas, and ingenuity than our own. We are prioritizing education, awareness, and celebration of new builders to give the proper tools for building on top of Shibarium & K9.”

This commitment is further solidified by concrete actions. “We have invited all hackathon winners to attend our Weekly DAO Spaces to promote their build and meet the community to encourage them to continue building on Shibarium,” Buzz shared. This proactive engagement, combined with a focus on providing resources and support, underscores K9 Finance’s dedication to building a thriving and collaborative developer community around their platform, ultimately driving innovation and growth within the Shibarium ecosystem.

K9 Finance acknowledged the challenges inherent in expanding its footprint within the decentralized finance space. Buzz identified the upcoming product launch on September 18 as their immediate focus, particularly “creating the proper incentive mechanisms within the product to reward participants favorably and create a flywheel effect for growth.”

To address this, K9 Finance is taking a community-driven approach. “The DAO is in the process of studying other successful token incentive models such as GMX and will be issuing a formal proposal to the DAO in the coming days for the community to define the parameters for rewards to different stakeholder groups using the K9 product,” Buzz revealed.

Furthermore, the K9 Finance founder emphasized the importance of community involvement in shaping the platform’s future: “The DAO will vote on these parameters and be able to review research and rationale and have a formal discussion to adjust these fees & rewards to ensure fairness and equitable involvement for the entire community.”

K9 Finance’s journey from ETHToronto hackathon sponsor to championing a vibrant Shibarium developer community highlights their long-term vision for decentralized finance. Its commitment to fostering innovation through education, support, and community involvement sets them apart.

Lawrence does not hold any crypto asset. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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