Shiba Inu Launches Incentives for Stakers in K9 Finance Deal

• Shiba Inu is looking to incentivize network users as the festive season approaches.
• The reward scheme is in collaboration with K9 Finance, its liquid staking partner.

Shiba Inu (SHIB) investors are set for a Christmas treat as the ecosystem team launches incentives for new users of the liquid staking option. The team partnered with K9 Finance to launch the new scheme.

More Cash for New SHIB Users

Shiba Inu’s Lead Marketing expert, Lucie, announced in an X post earlier today. “Thinking about earning some extra cash? Stay tuned for a very cool opportunity with liquid staking,” Lucie wrote.

Thinking about earning some extra cash? 👀

STAY TUNED for a VERY COOL OPPORTUNITY with liquid staking! 💰

🔥 Limited to new users only, but trust me—it’s NICE.
Up to $500. Let’s go!

SOON more details
Christmas lighting with @K9finance 🤭🥰$KNINE $BONE

— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) November 25, 2024

She emphasized that the opportunity will provide more revenue to network participants who use the feature, which is unique to the Shibarium network. She claimed network users can receive cash of up to $500. However, these awards are only available for new users, those who have yet to sign on to the network.

The market expert did not share specific details about the campaign but advised the community to look out for subsequent disclosures. However, she mentioned that the incentive initiative collaborates with K9 Finance, its liquid staking partner. Lucie added that the promotion is in the spirit of the end-of-year festive season.

CNF reported that Shiba Inu launched liquid staking on the Shibarium network on September 18, enhancing token flexibility. 

Liquid staking lets users secure their Bone ShibaSwap (BONE) token and collect incentives. Stakers can also unlock liquid tokens (kBONE) and spend them in chain activities within the ecosystem. 

Liquid staking also allows users to earn more money through DeFi platforms, which is always a positive aspect of the Shiba Inu ecosystem. 

Notably, Shibarium, Shiba Inu’s Layer-2 solution, has experienced an outstanding surge since implementing liquid staking functions on the blockchain. For example, the Total Value Locked (TVL) on Shibarium barely increased to $3.6 million a week after adding the Bonecrusher feature to the chain.

Shibarium’s TVL reached an all-time high of over $7 million before September ended, as activities related to the liquid staking function influenced the blockchain’s utility. As of this writing, per data from DefiLlama, Shibarium’s TVL stands at $4.4 million.

Shiba Inu’s Price Faces Consolidation 

Meanwhile, SHIB’s price has declined in shorter timeframes. The Shiba Inu’s price has declined 8.99% in the last 24 hours, retailing above $0.00002365. The daily trading volume decreased by 1.9% to $1.48 billion, indicating investors’ reduced interest.

It is important to note that SHIB’s latest performance mirrors the downtrend in the broader market. Bitcoin (BTC), the world’s largest cryptocurrency, is trading at $92,143 after experiencing a 5.9% decline in the past 24 hours.

As a result, investors are optimistic that SHIB’s price will climb higher when momentum in the market resumes. Besides, SHIB recently increased its activities, anticipating a more bullish rally ahead. 

CNF reported that these whales holding SHIB tokens worth $1 million to $10 million increased their positions by 425% in the past 30 days.