Shiba Inu partner K9 Finance DAO has released an exclusive product update concerning its upcoming liquid staking dApp, Bone Crusher.
The K9 Finance team shared the update via their official X handle, presenting a video that demonstrates how the Shiba Inu Army may interact with the application and earn. The team noted that this video marks the inaugural product update visual aimed at community members.
⚙️Exclusive Product Update⚙️$BONE Crusher is our core product allowing #SHIBARMY supporters to delegate & earn from our validator(s) system
Highlights in this video👇
▶️Connect Wallet
▶️Stake BONE to secure @ShibariumNet
▶️Swap $knBONE
▶️Claim Reward(s) in $KNINE $BONE &… pic.twitter.com/mP7VpMqEDI— K9 Finance DAO (@K9finance) May 6, 2024
How Shiba Inu Army Will Interact with Bone Crusher
In the post, K9 Finance stressed that Bone Crusher is their flagship offering. It seeks to enable the SHIB Army to delegate and gain rewards through the K9 Finance validator system.
As previously announced, the project’s team plans to launch the Bone Crusher dApp before the end of the year. Leading up to its release, K9 Finance’s video provided a tutorial for users on how to navigate the dApp.
To begin using the Bone Crusher dApp, users must tap the “connect wallet” button in the upper right corner of the screen. This action prompts them to consent to the required terms and conditions of the wallet connection.
They can then select a wallet from the options such as MetaMask or Wallet Connect to identify other compatible wallets. Once the users have chosen their preferred wallet, they are to follow other prompts that appear to link it with the K9 liquid staking platform.
After successfully establishing the connection, from the “Stake” section, users can enter the desired amount of BONE tokens to stake and proceed with the transaction.
The process of unstaking the locked asset is also seamless. The “unstake” button is right beside the “stake.” Upon clicking unstake, users will withdraw knBONE tokens.
Meanwhile, the withdrawal request takes up to four days to process. After this timeline, participants can collect their knBONE rewards in BONE or KNINE tokens through the “Claim” section.
Bone Crusher to Boost Shibarium TVL
Notably, Bone Crusher will debut on the Shibarium mainnet in Q3 2024, after the dApp’s successful trial by the end of this quarter. The second version of Bone Crusher is slated for release in Q4 2024.
In this latest update, the K9 Finance team has emphasized that liquid staking will be crucial in Shibarium’s future. In particular, the dApp aligns with its DAO mission to integrate DeFi capabilities within the Shiba Inu ecosystem. Essentially, this upcoming dApp is expected to substantially increase Shibarium’s total value locked (TVL), which is currently at $2.314 million, per the latest record.
