FAQ

What is K9 Finance DAO?

K9 Finance DAO is a liquid staking protocol for BONE backed by industry-leading staking providers. K9 Finance DAO lets users earn BONE staking rewards without needing to maintain infrastructure and enables them to trade staked positions, as well as participate in on-chain decentralized finance with their staked assets. K9 Finance DAO gives users options to:

• Stake their BONE tokens in a decentralized and secure way

• Use their knBONE on the secondary market

• Do all of the above simply and easily with a click of a button on the UI

• Stake KNINE tokens and receive extra rewards

• Farm esKNINE by providing liquidity and staking LP

• Convert esKNINE to KNINE through vesting

How does K9 Finance DAO work?

When staking with K9 Finance DAO, users receive knBONE tokens as soon as they submit BONE. K9 Finance DAO will calculate the current knBONE/BONE ratio and send the correct amount to the user. BONE tokens are then delegated across Shibarium validators that are part of K9 Finance DAO.

What is liquid staking?

Liquid staking protocols allow users to earn staking rewards without locking assets or maintaining staking infrastructure. Users can deposit tokens and receive tradable liquid tokens in return. The DAO-controlled smart contract stakes these tokens using elected staking providers. As users funds are controlled by the DAO, staking providers never have direct access to the users' assets.

What is knBONE?

knBONE is an ERC20 token that represents the account’s share of the total supply of BONE tokens inside K9 Finance DAO protocol. It is a non-rebasable token, which means that the amount of tokens in the user’s wallet is not going to change. During time, the value of this token is changing, since the amount of BONE tokens inside the protocol is not constant.

How long after requesting withdraw can I claim BONE?

Waiting period is around 1-3 hours. After that, you will be able to claim your withdraw request.

If you don't want to wait that long, you can use the Instant Rewards withdrawal option. This feature is currently disabled and would require a DAO vote to be enabled.

What is KNINE?

KNINE is an Ethereum token granting governance rights in the K9 Finance DAO. The K9 Finance DAO governs a set of liquid staking protocols, decides on key parameters (e.g., fees) and executes protocol upgrades to ensure efficiency and stability. By holding the KNINE token, one is granted voting rights within the K9 Finance DAO. The more KNINE voter holds/stakes/vests, the greater the decision-making power the voter gets.

What fee is applied by K9 Finance DAO? What is it used for?

K9 Finance DAO applies a 5% fee on a user’s staking rewards. This fee is split between node operators, the DAO, the Instant Rewards pool and the Real Yield Staking.