Gushiken Yona
Shibarium users are experiencing a surge in DeFi opportunities, thanks to the recent launch of Bonecrusher on Shiba Inu’s layer-2 scalability solution by K9 Finance DAO.
Th Bonecrusher, the innovative Liquid Staking Derivative platform offers attractive rewards for locking $KNINE and staking $BONE, providing users with compelling incentives to engage with the Shibarium network and participate in its growing DeFi ecosystem.
Buzz, the pseudonymous founder and developer at K9 Finance DAO, highlighted these opportunities in a recent tweet, stating, “As a @ShibariumNet user you still have access to: 1️⃣ up to 30.56% APR for locking $KNINE 2️⃣ 33.6% APR for staking $BONE.” These impressive annual percentage rates (APRs) underlind a significant earning potential for Shibarium users.
The opportunity to lock $KNINE and earn up to 30.56% APR provided users with a compelling way to participate in the growth of K9 Finance while also generating passive income. This attractive yield incentivized many users to lock their $KNINE tokens, contributing to the platform’s stability and long-term success.
Similarly, the 33.6% APR offered for staking $BONE presented a lucrative opportunity for Shibarium users to maximize their returns on their $BONE holdings. This high yield attracted a significant influx of $BONE into Bonecrusher’s staking pools, further strengthening the platform’s liquidity and overall ecosystem.
The combination of these attractive APRs and the innovative features of Bonecrusher resulted in a surge of activity on the Shibarium network. Buzz revealed the impact, stating, “The #Shibarium daily transactions were up 82% since Bonecrusher launched.” This increase in transactions demonstrated the platform’s ability to drive user engagement and stimulate the overall Shibarium ecosystem.
Furthermore, Bonecrusher’s success propelled K9 Finance to become a leading player in the Shibarium DeFi space. Buzz shared the impressive growth, stating, “In 2 days K9 has not only become the largest product by TVL on Shibarium, but the TVL of the chain was en route to 3x.” This rapid growth in Total Value Locked (TVL) signified the increasing value and adoption of both K9 Finance and the Shibarium network as a whole.
Buzz also shared other impressive statistics about Bonecrusher’s early success, including:
“2.5M $BONE staked in liquid staking”
“$1.5M staked in Farming $knBONE”
“50% of the circulating supply of $KNINE locked for an average of 10.5 months”
These figures underscored the strong appeal of Bonecrusher’s features and the confidence the community placed in the platform.
As Bonecrusher continues to gain traction and attract new users, it is poised to play a pivotal role in shaping the future of decentralized finance within the Shibarium ecosystem. The platform’s attractive rewards, combined with the strong support of the Shiba Inu community, have created a powerful force for growth and innovation, paving the way for a vibrant and thriving DeFi landscape on Shibarium.
Read More
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- Shibarium Takes Flight: Network Metrics Skyrocket Post-K9’s Bonecrusher Launch
Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication 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.
