In an important wave of development, Shiba Inu, one of the meme tokens developed on top of Ethereum, has recently shown a significant partnership with K9 Finance, a leading Liquid Staking Derivatives (LSD) platform that aims to facilitate the 'staking' of BONE which is smooth in L2 Shiba Inu, Shibarium.
Following this collaboration, the Shiba Inu team recently expressed high optimism for a string of collaborations, looking forward to the launch of stacking derivatives in Shibarium. Furthermore, as displayed by LUCIE, a prominent member of the Shiba Inu team, the community assured its members to build a more efficient and flexible BONE staking process, adding to the optimism of SHIB's tokenomics.
Meanwhile, BONE, the main token associated with the Shiba Inu community, soared high, reflecting the sentiment being the catalyst.
Based on the update shared by LUCIE, the recent collaboration with K9 Finance focuses on several important aspects related to BONE.
The first objective is to offer uninterrupted BONE stacking in Shibarium. Whereas, the second objective is to offer KnBONE tokens apart from BONE rewards, as a representation of featured BONE assets, which can be freely traded before the stacking period.
These KnBONE tokens can be further used on the Shibarium DEX, enabling asset trading, NFT printing, and providing liquidity.
Currently, the price of ShibaSwap BONE recorded an increase of 9.19% in the last 24 hours and is currently trading at $0.6013.
