tl;dr
K9 Finance is set to launch liquid staking on Shibarium, which could significantly increase SHIB burns and BONE staking. The recent 3,348% surge in the SHIB burn rate highlights its deflationary potential. Liquid staking on Shibarium is expected to boost TVL and transaction volume, directly fueling ...
K9 Finance is launching liquid staking on Shibarium, aiming to significantly increase SHIB burns and BONE staking. The recent 3,348% surge in the SHIB burn rate highlights its deflationary potential. Liquid staking on Shibarium is expected to boost TVL and transaction volume, directly fueling SHIB's burn mechanism.
K9 Finance, the official liquid staking platform for Shibarium, is set to launch on September 19. The platform will enable liquid staking for BONE tokens, which is expected to boost SHIB’s burn rate by increasing both total value locked (TVL) and transaction volume on the Shibarium network. This development is significant for the Shiba Inu ecosystem, as burning SHIB tokens is a key mechanism for reducing the total supply and potentially driving up the token’s value. By increasing the total value locked (TVL) on Shibarium, liquid staking could attract more investors and boost the network’s overall security.
Burning SHIB tokens reduces the total supply, potentially driving up its value. Recently, SHIB’s burn rate saw an astonishing 3,348% increase, eliminating 7.8 million tokens in just 24 hours. The surge in burning activity reduced the inflationary pressure on the meme coin.
While SHIB’s price recorded a minor dip alongside the burn event, the reduction in sell-offs and a positive trend in staking suggest a potential price recovery may be on the horizon. Liquid staking, if widely adopted, could further accelerate these burn events, potentially leading to a stronger price rally for SHIB in the future.
As the Shiba Inu ecosystem continues to evolve, liquid staking could serve as a crucial catalyst in maintaining momentum for the token’s deflationary goals. Whether this will lead to sustained price growth remains to be seen, but one thing is clear: liquid staking is set to play a pivotal role in shaping SHIB’s future trajectory. With the K9 Finance team preparing to launch the official liquid staking platform on Shibarium, the community eagerly awaits the potential boost in SHIB burns and network activity.