A Shiba Inu (SHIB) and Dogecoin (DOGE) competitor is asserting a brand new partnership with the BNB Chain’s largest lending protocol.
The workforce behind Floki (FLOKI) says that the crypto mission is collaborating with the Venus Challenge, the second-largest decentralized finance (DeFi) ecosystem on the BNB Chain.
The partnership will enable FLOKI holders to make use of their tokens as collateral to borrow different digital belongings.
“Venus shall be integrating FLOKI of their Remoted Cash Markets, thereby permitting FLOKI holders on the BNB chain to borrow a basket of different remoted markets cryptocurrencies whereas utilizing their FLOKI tokens as collateral…
This partnership additional enhances the utility worth of the FLOKI token because it permits FLOKI token holders to simply entry liquidity with out having to promote their tokens.”
In keeping with the Floki workforce, The Venus Challenge and the blockchain of the world’s largest crypto alternate platform by quantity had been chosen on account of their measurement and recognition.
“This can be a vital partnership for Floki. With a TVL [total value locked] of $1.35 billion and an 84% market share of the BNB [Build N Build] chain lending TVL, Venus is a DeFi behemoth and one of many largest DeFi gamers in the complete business.
Floki loves the BNB chain and continues to construct and search out strategic partnerships that profit Floki holders, the overwhelming majority of whom have a desire for the BNB chain.”
Although the merger course of has begun, the workforce behind Floki says that the finalized product gained’t be launched till at the very least March.
Information of the partnership had little affect on FLOKI because the token is buying and selling for $0.000047 at time of writing, a 2.6% drop over the last day.
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