BNB

Floki Partners With Venus Protocol to Offer Holders Lending and Borrowing Services

FLOKI holders can borrow isolated assets using their tokens as collateral on Venus.

BSCN

February 24, 2023

Floki Announces Partnership With Venus Protocol

Floki has integrated with the top lending and borrowing platform on BNB Chain, Venus protocol.

The partnership ensures that $FLOKI is incorporated with Venus’ Isolated Money Markets. Therefore, FLOKI holders can leverage their tokens as collateral to borrow isolated assets on BNB Chain’s leading lending and borrowing platform. The MemeFi protocol shared details of the partnership on February 24 through Twitter.

Venus is the number one lending and borrowing protocol on BNB Chain, controlling 84% of the blockchain’s lending Total Value Locked (TVL). Further, it is the second-largest Decentralized Finance (DeFi) platform on the popular network, after PancakeSwap Decentralized Exchange (DEX). The numbers indicate the significance of partnership for the MemeFi protocol.

The integration process has already begun and is expected to end in March, as stated in Floki’s publication. FLOKI holders can seamlessly borrow and lend assets with their tokens by then. BSC News recommends reading Floki’s blog for comprehensive details about the partnership.

‍

What is Floki:

Floki Inu began with a tweet from Elon Musk. When the billionaire announced he would name his Shiba Inu puppy Floki, it created a deluge of ‘Floki’ dogcoins. The most successful of these is Floki Inu. Floki Inu is currently the market's third most popular meme token, behind Dogecoin and Shiba Inu. It is backed by a community of committed enthusiasts and a strong marketing campaign.

Where to find Floki:

Website | Twitter | Telegram | Discord |

‍

What Is Venus Protocol:

Venus Protocol is a decentralized marketplace for lenders and borrowers with borderless stablecoin. Venus is one of the largest algorithmic money markets and synthetic stablecoin protocols on the BNB Chain. The Binance-backed protocol became famous around DeFi following their hint of a massive incoming burn by founder Joselito and its Venus Reward Token VRT rewards for XVS token holders.