News

Shibarium Liquid Staking Protocol K9 Finance DAO Upgrades to Bonecrusher v3

Jamie Larson

Aug 22, 2025 — 2 min read

K9 Finance DAO launched Bonecrusher v3 on August 21, bringing new yield farming pools to Shibarium's largest liquid staking protocol. According to The Shib Daily, the upgrade introduces an entirely new KNINE/knBONE farming pool alongside an upgraded BONE/knBONE pool replacement.

The protocol scheduled its original farming pool for deprecation on September 18, 2025. Rewards will gradually decrease to encourage user migration to the new pools. The new BONE/knBONE pool inherits the 800 esKNINE per second emission rate from its predecessor. The KNINE/knBONE pool launches with 150 esKNINE per second emissions.

K9 Finance DAO reported over $3.6 million in total value locked at the time of the announcement. The organization maintains governance control over emission rate adjustments to ensure sustainable growth.

Why This Matters

The upgrade reinforces K9 Finance DAO's position as Shibarium's leading DeFi protocol during a period of network expansion. The Shib Daily reported that Shibarium TVL reached new monthly highs in May 2025, with K9 Finance leading at $2 million TVL and 27.54% monthly growth. The protocol's liquid staking mechanism allows BONE holders to earn rewards while maintaining asset liquidity for other DeFi activities.

Bonecrusher enables users to stake BONE tokens and receive knBONE derivatives that remain tradable across Shibarium applications. This addresses a key limitation in traditional staking where assets become locked and illiquid. The v3 upgrade expands earning opportunities through diversified pool options while preserving the protocol's core value proposition.

The timing aligns with broader institutional interest in liquid staking protocols, which have become the second-largest DeFi category by total value locked globally.

Industry Implications

K9 Finance DAO's expansion reflects growing momentum in Layer 2 DeFi protocols and liquid staking adoption. CoinLaw data shows Layer 2 DeFi expanded rapidly in 2025, with Base, Linea, and zkSync Era capturing 22% of weekly volume. Liquid staking protocols now control over $25 billion globally, with platforms like Lido managing $34.8 billion in staked ETH derivatives.

The Shibarium ecosystem's growth mirrors trends across alternative Layer 2 networks seeking to capture market share from Ethereum mainnet. Traditional financial institutions are increasingly viewing liquid staking as a pathway to earn yields on crypto holdings while maintaining flexibility for trading and lending activities.

However, the concentration of TVL in leading protocols raises questions about decentralization within the liquid staking sector. K9 Finance DAO's governance token model attempts to address these concerns by distributing decision-making power among KNINE holders rather than centralized entities.

For those interested in decentralized governance mechanisms and protocol development, our comprehensive DAO tooling guide provides detailed analysis of over 100 platforms and tools used in decentralized governance. The resource examines how organizations like K9 Finance DAO structure voting systems, treasury management, and community coordination.

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