a month ago 1 min read

Shiba Inu Unification Increase Utility: FUND Liquid Staking Derivatives

shiba inu-blockchain

Yesterday on Twitter, Ringoishi Titsu, who runs the FUND validator for Unification, disclosed intentions for the blockchain tools company to develop a liquid staking derivative for FUND on the Ethereum network.

The LSD will use FRAX's revolutionary dual token format, enabling users to receive ETH staking incentives and liquidity pool return, according to the entire proposal written by Samuel McCulloch, operator of the BigBossCapital validator. As a result, two tokens and a Curve liquidity pool would need to be made.

The initial token, called aFUND, will be paired with FUND and used to generate rewards by supplying liquidity to the aFUND/FUND pool that is being considered. Those who deposit aFUND in the staking vault and earn staking rewards obtain the second, sFUND.

It is unknown at this moment whether this plan has been approved by governance because Titsu has not yet replied to requests for feedback.

But, Shiba Inu community members can take part by purchasing FUND from ShibaSwap if or when the solution launches.

It's important to note that the Unification team created Shibarium, the Ethereum Layer 2 protocol for the SHIB ecosystem that the community has been waiting for almost two years. The team noted at the beginning of the month that the delay in Shibarium's launch was due to work on its Oracle of Oracles (OoO), which will offer secure price feeds for the protocol.

Importantly, chief engineer Shytoshi Kusama of the Shiba Inu project has claimed that the Layer 2 protocol is ready for release. He claims that it won't go live until Kaal Dhairya, another lead developer, has finished grieving for his father.

Since then, Kusama has confirmed the Shibarium logo and published a blog post detailing the company's core beliefs.

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