K9 Finance: Deployment of KNINE Token on Shibarium Testnet “Puppynet”

On June 13, 2024, K9 Finance announced the deployment of the KNINE token on Shibarium's testnet "Puppynet." This marks a significant step toward the mainnet release.

The KNINE token, governed by K9 Finance DAO, will benefit from Shibarium’s low gas fees, facilitating easier trading and transfers.

Ongoing audits by SourceHat Labs ensure the security of this promising project. Stay tuned for updates on the KNINE mainnet launch and the upcoming airdrop in the fourth quarter of 2024.

Public Release on Testnet Ahead of Mainnet Deployment

On June 13, 2024, K9 Finance, which is developing a decentralized finance (DeFi) platform based on the Shiba Inu (SHIB)-related Layer 2 solution "Shibarium," announced the deployment of the KNINE token on the testnet "Puppynet."

K9 Finance (KNINE) is a project that has built a service called liquidity staking, which allows users to earn rewards by managing tokens such as $BONE and $knBONE. This project is operated by a decentralized autonomous organization (DAO) known as K9 Finance DAO.

The KNINE token serves as the governance token for K9 Finance DAO, enabling KNINE holders to propose and vote on the project's operations and service developments.

Previously, this cryptocurrency circulated on the Ethereum blockchain, but it has now been reported that the deployment of the KNINE token on Puppynet, Shibarium's testnet, has commenced.

Note: Puppynet is a blockchain used for testing purposes, and tokens on Puppynet do not have value. Please be cautious of misdirected transactions when using Puppynet.

Ongoing Smart Contract Audits

Additionally, it has been reported that smart contract audits are being conducted by SourceHat Labs, a firm with a history of auditing over 1,900 projects.

Since the KNINE token has not yet launched on Shibarium's mainnet, caution is advised regarding counterfeit tokens.

However, upon the completion of testing on Puppynet, there are plans for a full deployment on the mainnet, which will allow trading of KNINE on Shibarium in the near future.

Benefits of the Shibarium Version of KNINE Token

While the KNINE token is already tradable on the Ethereum blockchain and listed on cryptocurrency exchanges such as MEXC, Ethereum's high gas fees have been a drawback, making it challenging to trade and transfer KNINE casually.

On Shibarium's network, however, transactions can be conducted with extremely low gas fees of less than one yen.

Therefore, the introduction of the Shibarium version of the KNINE token is expected to facilitate easier trading and transferring of KNINE tokens.

With the growing number of Shibarium-compatible decentralized exchanges (DEX), it is anticipated that after the official release of the Shibarium version of KNINE, tokens will be tradeable with low fees on DEXs such as ShibaSwap and WoofSwap.

K9 Finance has also announced plans to conduct an airdrop on Shibarium in the fourth quarter of 2024, drawing attention to future updates regarding the "KNINE launch on the mainnet" and "airdrop announcements."

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