- With 420 million KNINE tokens up for grabs, the newly appointed Shibarium validator K9 Finance DAO is offering any pup the chance to win.
- K9, the recently appointed Shibarium validator, starts the 420M KNINE competition.
- The contest will continue for two weeks, ending on May 22, 2024, at 3 PM EST.
Custodians of Shiba Inus have become curious about Shiba Inus’s (SHIB) future Liquid Staking Derivatives (LSD) platform on Shibarium Layer-2.
The dynamic staking platform’s decentralized autonomous organization (DAO), K9 Finance DAO, announced a contest with 420 million KNINE tokens as the prize pool.
In honor of K9 Finance DAO being a node validator on Shibarium L2, a sweepstakes is being hosted. After the hard fork in early May 2024, this strengthens the security of SHIB’s own blockchain even further.
Furthermore, by introducing never-before-seen capabilities to the chain, K9 Finance DAO is able to work toward strengthening Shibarium’s liquidity thanks to its tight relationship with SHIB Token.
How to Access the 420 Million KNINE Prize Fund
Experts in cryptocurrency should visit TaskOn, where they can view a list of required and optional tasks. SHIB Army members have several options for logging into TaskOn to participate, such as social media gateways and Web3.
Shibarians have access to X, Telegram, Discord, or email as their login method choices. For Web3 authentication, they have access to Bitget Wallet, Wallet Connect, TronLink, and MetaMask. After logging in, there are two required activities for cryptocurrency aficionados to complete.
Swapping at least $100 worth of ETH for KNINE on UniSwap v3 is the first task; the buying action comes after the social task to quote a tweet on Twitter that includes the hashtags #K9Finance and #buycontest. Completing optional tasks on the contest page increases your chances of winning because the sweepstakes is based on raffle-based entries.
Among them is keeping up with K9 Finance DAO, the campaign host, on Twitter and Telegram. By following the SHARBI token, ChewySwap, Bad Idea AI, WoofSwap, CoinMerge, and other Shibarium-related goods, users can perform the smaller chores worth five entries and earn as many points as they can.
What Shibarium Gains from K9 DAO’s Staking App
The objective of K9 Finance DAO is equivalent to that of Lido Protocol on Ether (ETH). Blockchain enthusiasts were able to increase the potential rewards on their digital asset staking portfolios by diversifying them over multiple smart contracts when Lido joined the largest Proof of Stake (PoS) network.
BONE Crusher, the main product of K9 Finance DAO, will use a dual token system utilizing Bone ShibaSwap (BONE) from Shibarium. After users of Shibarium L2 assign their BONE to the decentralized application BONE Crusher (dApp).
Participants in the liquid yield project can claim their staking rewards in both KNINE and BONE, even as the initiative’s goal is to increase Shibarium’s on-chain liquidity. The BONE Crusher decentralized application, scheduled for release in Q3 2024, will utilize Shibarium L2 and a bi-folded LSD system that incentivizes the SHIB Army and K9 Army to engage in staking activities.
Leading members of the SHIB Token team have become advisors to K9 Finance DAO, endorsing the upcoming liquid staking initiative as an official part of the Shibarium Ecosystem.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
