Shiba Inu Partner K9 Finance Goes Live on DeFiLlama with $1.05M TVL

K9 Finance, the official liquid staking protocol for Shiba Inu blockchain Shibarium, has been listed on DeFiLlama, the largest TVL aggregator in the DeFi space.

K9 Finance shared this milestone on its official X channel, generating positive feedback from its community. This development allows users to monitor K9 Finance’s activity directly through DeFiLlama’s dashboard, reflecting a growing interest in the protocol.

K9 Finance’s page on DeFiLlama highlights the project’s current financial metrics. The total value locked (TVL) within the platform stands at $1.05 million, which indicates the number of assets secured in its smart contracts.

The staked amount of its KNINE token is reported at $169,860, demonstrating active user participation in liquidity and operational activities. 

Boost Following Liquid Staking Launch

This news comes only days after Shiba Inu’s official X account acknowledged K9 Finance’s achievements in the DeFi space, spotlighting the public’s growing interest in the platform’s offerings.

Notably, on September 18, K9 Finance introduced the Bonecrusher liquid staking solution on Shibarium, allowing users to stake Bone ShibaSwap (BONE) tokens for yield opportunities. 

Within just 48 hours of launch, 2.5 million BONE tokens had been staked through the new solution, with $1.5 million staked in farming knBONE tokens. This solution offers a 33.6% APR for BONE staking, presenting a competitive staking option within the ecosystem.

Despite the growing traction, there has been some confusion regarding the scope of K9 Finance’s ecosystem. In late August, Shytoshi Kusama, the lead developer of Shiba Inu, addressed a comment from K9 Finance’s co-founder about the association between K9 Finance and the Shiba Eternity game. 

Kusama clarified that Shiba Eternity is not part of the K9 ecosystem, countering previous statements made by Buzz, K9 Finance’s co-founder. This clarification followed Buzz’s participation in a community-led live stream showcasing the Bonecrusher Testnet. This stream highlighted the progress of K9 Finance’s liquid staking project ahead of its official launch.