ShibaSwap Is Now Set To Launch Liquid Staking
ShibaSwap, the decentralized exchange (DEX) for the Shiba Inu ecosystem, is preparing to roll out liquid staking capabilities that will revolutionize how users interact with the platform.
According to Shibarium Updates, an X channel tracking developments in the Shiba Inu ecosystem, the new liquid staking feature was confirmed through ShibaSwap's rebranded website.
The upcoming feature will enable users to stake their tokens while maintaining access to their assets. When staking tokens, users will receive liquid tokens representing their staked holdings. For instance, those who stake TREAT tokens will get liquid Treat tokens (veTREAT), which provide governance rights over liquidity mining reward allocations.
Alongside liquid staking, ShibaSwap plans to implement a Karma Point system rewarding users for activities like transferring ecosystem tokens (SHIB, BONE, LEASH, and TREAT) and providing DEX liquidity. These Karma points will enhance voting power in the upcoming Shib Doggy DAO, expected to launch by end of next year.
While the exact launch timeline remains unannounced, users can currently access liquid staking through K9 Finance, the official liquid staking partner of Shiba Inu. Since its September 18 launch, K9 Finance has attracted 248 stakers who have locked over 2.42 million BONE tokens. The platform's liquid staking token, knBONE, now holds a market cap of approximately $1.45 million.
The liquid staking update adds to ShibaSwap's recent improvements, including its migration to the Shibarium network earlier this year. This transition made the exchange multi-chain capable, allowing token swaps between Ethereum and Shibarium networks while supporting SHIB token burns. The ShibaSwap 2.0 upgrade brought streamlined migration and centralized liquidity pools for enhanced user experience.
This new development represents another step forward in ShibaSwap's evolution, as the platform continues expanding its capabilities to serve the growing demands of decentralized finance users.