The Shiba Inu ecosystem team has disclosed plans to reward new users of the Shibarium-based liquid staking feature in partnership with K9 Finance.
With the holiday season closing down, the ecosystem team is set to roll out substantial compensation for new users of the liquid staking feature. In a November 25 tweet, Shiba Inu marketing lead Lucie has revealed plans to help new users make extra cash.
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
Shiba Inu Marketing Lead Teases Reward for New Shiba Armies
Lucie stated that the opportunity would offer extra cash for network participants who leverage the feature, which is native to the Shibarium network. Notably, the marketing emphasized that the reward was for new users.
Although the Shiba Inu team did not reveal details of the promotion, it advised the community to look out for subsequent disclosures. However, Lucie mentioned that the reward will be substantial, specifically up to $500.
The Shiba Inu marketing lead further mentioned that the imminent new-user reward is in collaboration with K9 Finance, its liquid staking partner. Also, the promotion was in the spirit of the festive season, stating it is a “Christmas lighting with K9 Finance.”
Liquid Staking’s Impact on the Shibarium Network
Notably, Shibarium, the Shiba Inu ecosystem’s Ethereum sidechain, has received a tremendous boost since the launch of the liquid staking functions on the blockchain. For instance, the total value locked (TVL) on the Shibarium network surged to $3.6 million just a week after the Bonecrusher feature emerged on the chain.
Before the end of September, Shibarium’s TVL surged to an all-time high of over $7 million as activities pertaining to the liquid staking function spurred the blockchain’s utility. Meanwhile, data from DeFiLlama shows that the Ethereum L2’s TVL stands at $4.63 million at press time.
Liquid staking allows users to lock up their Bone ShibaSwap (BONE) and earn rewards. Concurrently, the stakers can also unlock liquid tokens (kBONE) and use them for chain activities within the ecosystem.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
