• 30 May, 2024
News

K9 Finance DAO Activates Validator on Shibarium TestNet PuppyNet

K9 Finance DAO announced on May 13, 2024, via their official X account, the activation of a validator on PuppyNet, making a significant development in the community.

K9 Finance DAO has previously announced a significant development, marking a milestone in its collaboration with Shibarium. The DAO’s validator has gone live on PuppyNet, the TestNet version of Shibarium. This step boosts anticipation among cryptocurrency enthusiasts globally.

Becoming a validator on Shibarium brings several benefits to K9 Finance. This role increases K9 Finance’s visibility and credibility within the cryptocurrency sector. Aligning with Shibarium, a prominent blockchain platform, enhances K9 Finance’s reputation among crypto enthusiasts.

Additionally, the validator role gives K9 Finance direct responsibility for network security and transaction validation. This aligns with K9 Finance’s commitment to decentralized finance (DeFi) principles. Moreover, this role provides access to rewards and incentives, boosting K9 Finance’s stake in the Shibarium ecosystem and fostering a beneficial partnership.

K9 Finance highlighted several tangible benefits from this validator role. These include the distribution of BONE rewards to KNINE holders, enhanced network security, and decentralization. Also, it introduces the first Liquid Staking Derivative (LSD) for SHIB, a notable innovation.

Buzz, the pseudonymous founder of K9 Finance, recently commented on this milestone. He described becoming a validator as “a step towards addressing the FUD of ‘why isn’t KNINE on Shibarium.’” He emphasized that “FUD will be addressed through actions and development.”

This development signifies K9 Finance’s commitment to strengthening the Shibarium network. The activation of its validator on PuppyNet underscores a significant step forward in its collaborative efforts with Shibarium. This move is set to enhance K9 Finance’s role and impact within the cryptocurrency community.

The popular meme coin has seen a notable rise over the past 24 hours following the K9 Finance Validator launch on Shibarium. Shiba Inu experienced a 3.66% increase, reaching $0.00002337. The market cap stands at $13.77 billion, reflecting growing interest. The 24-hour trading volume surged by 148.29%, hitting $458.82 million.

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