Shiba Inu team recently formed a key partnership with K9 Finance, a leading Liquid Stake Derivatives (LSD) platform, part of Shibarium. This partnership aims to facilitate seamless BONE staking on Shibarium.
After this cooperation, meme coin‘s team has expressed great optimism in anticipation of the imminent launch of liquid staking derivatives on Shibarium. Additionally, a post shared by LUCIE, a prominent member of the Shiba Inu team, raised hopes for SHIB tokenomics while promising community members a more efficient and flexible BONE staking process.
With these developments, BONE’s partnership BONNET It was observed that it experienced a large increase reflecting its focus on staking.
LUCIE Highlights Important Details
The first goal is to offer seamless BONE staking on Shibarium. Thus, the Shiba Inu L2 network can be secured by transferring BONE tokens to a Validator node. The second goal is to offer KnBONE tokens as representation of staked BONE assets in addition to BONE rewards. These tokens can be freely traded before the staking period.
Notably, KnBONE tokens will become more available on Shibarium’s DEX, increasing trading of assets, enabling the minting of NFTs, and providing liquidity. It will also function to refund an equivalent amount of KnBONE tokens when a user wants to redeem their BONE tokens.
BONE Price Increases
Koinfinans.com As we reported, according to CoinGecko data, at the time of writing, the ShibaSwap BONE price has increased by 9.19% in the last 24 hours. It is currently trading at $0.6013. This sudden jump in the token’s price seems to indicate increased optimism in the market as a result of the aforementioned partnership.
On the other hand, the price of Shiba Inu traded quite volatile today. It has decreased by 0.21% in the last 24 hours. The current SHIB price stands at $0.000008831 with a market cap of $5.21 billion.
