Shiba Inu’s partner tokens K9 Finance DAO (KNINE) and Unification (FUND) officially transition to the popular Layer-2 scaling solution, Shibarium.
The tokens were integrated into the L2 network yesterday via the Shibarium Bridge, a technological innovation bridging assets from Ethereum to the Shiba Inu blockchain.
Shiba Inu Celebrates the Integration
Interestingly, Shiba Inu’s ecosystem team celebrated the transition of both tokens to Shibarium on X yesterday, suggesting that the integration would enhance their functionalities and operations within its ecosystem.
Welcome @K9finance and @UnificationUND! 🔥$KNINE and $FUND is officially bridged to the Shibarium Network for better.
Let’s take a closer look at them! 🔎🧵 pic.twitter.com/yH7RHbnerk
— Shibarium Network (@ShibariumNet) July 8, 2024
The Shiba Inu ecosystem system team also highlighted the roles and functions of K9 Finance and Unification. It introduced K9 Finance as the leading Shibarium’s liquid staking derivative (LSD) platform, offering innovative solutions for maximizing returns.
With K9 Finance, users can participate in DeFi opportunities without limitation by staking their assets while retaining liquidity. The K9 Finance team officially launched KNINE on the Ethereum network on March 7, 2024.
Shiba Inu Highlights Unification Significance
Also, Shiba Inu’s welcome tweet recognized Unification for its role in bridging FUND to Shibarium. It pointed out that the integration would enhance utility and accessibility within the Shiba Inu ecosystem.
“With their advanced blockchain solutions, we’re driving innovation and building a stronger DeFi network,” Shiba Inu remarked.
Unification was one of Shibarium’s leading developers, making substantial contributions to the network’s launch in August 2023.
Furthermore, Shiba Inu extended gratitude to Unification and K9 Finance DAO for choosing Shibarium, highlighting their confidence in the network. The team emphasized that as developers believe in Shibarium, it is committed to building the network to become a platform for future innovation in blockchain and finance.
Thanks to @K9Finance and @UnificationUND for choosing Shibarium!
With developers believing in Shibarium, we are always building for the future of finance and blockchain.
Build on #Shibarium, be part of the future! pic.twitter.com/uPNp3wNqvL
— Shibarium Network (@ShibariumNet) July 8, 2024
Shibarium Bridge Update
Recall that the Shibarium Bridge launched last year alongside the L2 scaling solution, allowing users to transfer assets from Ethereum to Shibarium. During its inaugural launch, users could withdraw Shiba Inu ecosystem tokens like SHIB and LEASH within 45 minutes to three hours.
However, the BONE transfer took up to seven days. Following an update in May, Shibarium developers were able to reduce BONE bridge time to 45 minutes from seven days.
This enhancement also applies to other tokens seeking to transition to Shibarium from Ethereum, suggesting that FUND and KNINE could be bridged to Shibarium in less than an hour.
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