Disclosure
Cryptocurrency trading is speculative and your capital is at risk when you trade. We may earn affiliate commissions from some of the products on this page - at no extra cost to you.
Shiba Inu and K9 Finance to Launch New Airdrop on Shibarium

Highlights:

  • Shiba Inu partners with K9 Finance to introduce a retroactive airdrop on the Shibarium L2 blockchain.
  • Users must bridge assets and engage with dApps on Shibarium to earn rewards.
  • The airdrop aims to enhance user interaction and loyalty through asset staking and dApp testing.

Shiba Inu and its associate, K9 Finance, recently announced an exciting development that has energized the cryptocurrency sphere. A unique airdrop is set to launch on the Shibarium platform, rewarding users retroactively for their engagement and loyalty.

Participation and Reward Mechanism

Lucie, the marketing lead from Shiba Inu, detailed the airdrop mechanism in a recent X post dated May 24. She explained that users would accumulate points by bridging their assets to Shibarium, engaging in transactions on the platform, and holding specific tokens such as LEASH and KNINE. These points are then convertible into free tokens, fostering a more active ecosystem.

Buzz, the co-founder of K9, emphasized the retroactive nature of the airdrop during an interview. He noted that the rewards would be based not only on the users’ current engagements but also on their historical activities on the platform. This includes interactions with decentralized applications (dApps) on Shibarium and participation in key testing phases of upcoming K9 dApps.

Strategic Enhancements and User Rewards

Buzz further highlighted that the engagement metrics being tracked include the length of time users hold KNINE tokens and their proactive participation in staking these tokens. This strategy aims to boost long-term involvement within the Shibarium ecosystem.

However, the specifics of the airdrop, such as the total tokens available and the duration of the program, remain undisclosed. This has left some in the community eagerly awaiting more details, which are expected to be released soon.

This initiative is not the first of its kind for K9, which recently celebrated becoming a Shibarium validator with a substantial 420 million KNINE token sweepstakes. Moreover, the partnership is on the verge of launching a new staking platform, with the testnet version slated for release this quarter and the mainnet expected by Q4.

As of press time, Shiba Inu is trading hands at $0.00002545, up 4% in the past 24 hours. SHIB has recently shown resilience, surging by 5% and 3% on the weekly and monthly charts, respectively. SHIBโ€™s market cap has increased to $15 billion,ย while the trading volume stands at $640 million, recording an increase of 100%.