The Shibarium Layer-2 network has just received a significant boost, revolutionizing cross-chain efficiency and igniting a 60% rally for its associated token, KNINE. The upgrade, which enables rapid BONE withdrawals between Shibarium and Ethereum, marks a major milestone in the development of Shibarium's decentralized ecosystem.

ETH Bridge Tweaks Bring Long-Awaited Changes

The Shibarium team has implemented a new transfer time for transactions between Shibarium and Ethereum, reducing the transaction window from seven days to just 45 minutes. This significant improvement ensures a seamless process for Shibarians wanting to transact Bone ShibaSwap (BONE) to Ethereum (ETH) without a lock-in period.

New Upgrade Paves the Way for Dynamic Staking

The new decentralized applications (dApps) onboarded on Shibarium L2 have been instrumental in driving the network's growth. The recent addition of K9 Finance DAO, Shibarium's official liquid staking partner, has emerged as a star player in the Shibarium newcomer list. K9 Finance DAO's BONE Crusher dApp enables users to stake their BONE tokens in several different staking protocols at the same time, operating on a checkpoint mechanism to speed up the process of BONE staking on-chain and facilitate participation in chain governance.

KNINE Token Sees 60% Rally

The positive technical developments on Shibarium Layer-2 have sparked a double-digit bull rally for the Shibarium-associated K9 Finance DAO (KNINE) token. Boasting a 60.20% upswing over the past 24 hours, according to CoinGecko, KNINE is now priced at $0.00003075. While KNINE retraced 91% from the all-time high set on March 10, 2024, the Shibarium LSD coin's liquidity could expect a powerful boost after K9 Finance releases the initial version of BONE Crusher on Shibarium's mainnet in Q3 of 2024.

Why This Matters

The upgrade brings significant benefits to both Web3 enthusiasts and the network. It enables users to manage their digital assets in a more efficient way, participate in governance, stake their BONE, and indulge in blockchain gaming without needing to worry about the lock-in periods of their digital assets. The Shibarium team's commitment to improving the user experience on the ETH bridge has set the stage for further growth and innovation in the Shibarium ecosystem.