Liquid Staking
Shibarium Network, being a proof of stake (PoS) network, has native staking and requires locking BONE on Ethereum.
K9 Finance DAO offers an alternative - Liquid Staking. Here is how it works:
You deposit your Ethereum BONE tokens with us and the K9 dApp delivers it into the staking protocol on your behalf.
In return, you receive a liquid staking token, knBONE, on the Shibarium network.
knBONE liquid tokens are like tradable receipts representing your stake. You can freely trade it, similar to regular cryptocurrency, or even use them as collateral in other DeFi applications.
When you want to withdraw, you send your Shibarium knBONE and receive Ethereum BONE back including the staking rewards. The knBONE tokens are burned once withdrawal is done. There are 2 options:
Instant withdrawal: you can receive BONE immediately without any request, but the instant reward fee is applied.
Request withdrawal: by doing so you will send your knBONE and receive unstBONE request NFT. Once this request is fulfilled, you will be able to claim your BONE without any fees.
Liquid staking provides the best of both worlds: you contribute to Shibarium network security and earn staking rewards, all while retaining control and flexibility over your BONE through knBONE.
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