K9 ETH Vault with KNINE+SHIB Rewards Boost (Part 1)

Development
1

Introduction

This is a proposal to explore an Ethereum mainnet product (an ETH Vault with KNINE + SHIB reward boosts). This first part focuses on the Why and the What. If the idea is worthwhile, we can follow up with the Who 🤘, How, and When in Part 2.

This is very much a learning exercise for me and not a complete plan, so I’d really appreciate your thoughts, questions, and any perspectives I’m missing. Thank you!

Why

From the app and quests to the chats and forum, the K9 DAO already does an incredible job of welcoming people into DeFi. It's approachable, supportive, and genuinely community-driven.

I also believe that these first steps into DeFi have to start with Ethereum mainnet. It’s widely trusted and just works.

I can’t think of a better way to start your journey in DeFi than with a friendly K9 by your side.

But isn't K9 a liquid staking project for L2s

I realize that K9 is a liquid staking project first and this may be a detour. But I think most people are still a few steps behind the LS narrative and need a friendly on-ramp companion.

The goal is to start people with something familiar and comfortable. Once they experience basic staking and see real rewards coming in, they’re more likely to explore liquid staking and other DeFi opportunities with confidence.

We staked 200+ million K9 on an L2 - imagine what we can do on the mainnet.

What

Introducing the K9 ETH Vault with K9 + SHIB reward boosts.

  • Users deposit ETH into the K9 ETH vault
  • Vault stakes ETH in Frax / Rocket / EigenLayer / (aggregator/index?)
  • Users receive knETH (vault derivative) + esKNINE
  • Users can lock KNINE tokens to boost yield
  • Users can lock Shib tokens for an additional boost (some utility for frens of K9)
  • Users can also lock K9 alone for a percentage of the protocol’s performance fee?

Protocol fees

  • 10% of earned staking yield?

Audience

  • K9 / Shib community
  • New DeFi users
  • Long-term ETH holders

Considerations for the DAO

  1. Would an ETH-based product make it easier to introduce friends & family to DeFi?
  2. If you currently stake ETH elsewhere, what would motivate you to try a K9 ETH Vault?
  3. What are your biggest concerns with an ETH Vault like this?
  4. Is this a distraction from K9’s mission, or an expansion?