HAMMER TIME: Clutch Markets Brings Its $K9 Token To Solana And Invites Everyone To Start Earning Crosschain Yield!

From Ethereum to Solana, Clutch Markets just let the dogs out with its new Hammer protocol, inviting $K9 holders and Pixel Pups owners to start earning yield through some new crosschain action!

"The Hammer" by Clutch Markets is officially live,” Clutch Markets tweeted on Tuesday. “What does this mean? $K9 is now officially live for trading on Solana. You can also now stake your Pixel Pups $K9 tokens in "The Hammer" and earn yield."

 

 

As the Gazette previously reported, $K9 is Clutch Markets’ official token and powers everything founder 0xSimpleFarmer and the team are building. The token is directly tied to the platform’s NFT collection, Pixel Pups, with each pup equal to 1,000,000 $K9 tokens and vice versa.

Now, with $K9 operating across both Ethereum and Solana, Clutch is introducing what it calls “crosschain volatility farming,” a system designed to let users earn yield from price differences and trading activity between chains.

Normally, opportunities like this are dominated by sophisticated traders and bots hunting for arbitrage. But according to Clutch, The Hammer is designed to democratize that process by distributing those opportunities to users staking through the protocol.

“The hammer is essentially a system called crosschain volatility farming,” So what we’ve done is we’ve created an additional Liquidity Pool on Solana for the $k9 token. We’ve paired it with 130 SOL, and now the $K9 token exists across both chains.”

 

But unlike many crosschain tokens that rely on LayerZero, 0xSimpleFarmer said $K9 is powered by Clutch Markets’ own protocol dubbed CUTS, which stands for the Clutch Unified Token Standard. According to him, the protocol introduces unique mechanics that help keep the market caps of the ecosystem’s various assets the same crosschain!

 

“With this $k9 actually has a perfect marketcap across Ethereum and Solana, and that market cap also reflects perfectly with the Pixel Pups collection. So now users can bridge between the two chains, stake on either chain and receive fees from our bridge, and we’ve added a staking boost based on how many Pixel Pups a user has….This is a cool mechanic because its actually incentivizing people staking and holding the collection long term.”

 

For more information on The Hammer or to start earning yield on your $K9 or Pixel Pups, visit Clutch Markets’ website here: https://anvil.clutch.market/market/0x63572955a9Eb36eF2E0AD822e77657F0f84f37d3

 

The Gazette is working to learn more about The Hammer and will continue following everything Clutch Markets builds. Stay tuned for updates!