by Shiba Inu (SHIB) and Dogecoin (DOGE) competitor announces new partnership with Binance network’s largest lending protocol.
The team behind Floki (FLOKI) says the crypto project is collaborating with Project Venus, the second largest decentralized finance (DeFi) ecosystem on the BNB chain.
The partnership will allow FLOKI holders to use their tokens as collateral to borrow other digital assets.
“Venus will integrate FLOKI with its isolated money markets, thus allowing FLOKI holders on the BNB chain to borrow a basket of cryptocurrencies from other isolated markets, using their FLOKI tokens as collateral…
This partnership further enhances the value in use of the FLOKI token as it allows FLOKI token holders to easily access liquidity without having to sell their tokens.”
According to Floki’s team, the Venus project and the blockchain of the world’s largest cryptocurrency exchange by volume were chosen because of their size and popularity.
“This is a significant partnership for Floki. With a TVL (total locked-in value) of $1.35 billion and an 84% market share of BNB (Build N Build) lender TVL, Venus is a DeFi giant and one of the biggest DeFi players in the entire industry.
Floki loves the BNB network and continues to build and seek strategic partnerships that benefit Floki holders, the overwhelming majority of whom prefer the BNB network.”
While the merger process has already begun, the team behind Floki says the finalized product will be launched by at least March.
The news of the partnership had little impact on FLOKI as at the time of writing this token the price of the token was $0.000047, down 2.6% over the last day.
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Featured image: Shutterstock/Dmitriy Rybin/Vladyslav Severyn/CKA
