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 Venture, the second-largest decentralized finance (DeFi) ecosystem on the BNB Chain.
The partnership will permit FLOKI holders to make use of their tokens as collateral to borrow different digital property.
“Venus will likely 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.”
Based on the Floki workforce, The Venus Venture and the blockchain of the world’s largest crypto trade platform by quantity have been chosen as a consequence of their dimension 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 all the trade.
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 choice 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 no less than 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 past day.
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