Floki has integrated key Chainlink services to enable it to power its locker protocol.
Floki announced on Monday, August 15th, that FlokiFi Locker, its token locking protocol, has integrated Chainlink Keepers on BNB Chain and Ethereum mainnets.
The team pointed out that by leveraging the decentralised smart contract automation service, it can securely and reliably automate the token locking process.
According to the press release shared with Coinjournal, Floki said it has also integrated Chainlink Price Feeds on the Arbitrum, Avalanche, Fantom, Heco, Optimism, and Polygon blockchains. This is in addition to its previous integrations of Chainlink Price Feeds on BNB Chain and Ethereum network.
Following this latest development, Floki is now using Chainlink Price Feeds to display token locking prices for over 500 different assets.
FlokiFi, short for “Floki Finance”, is the umbrella name for a suite of decentralised finance products that will be launching under the Floki brand.
Floki Locker is an innovative digital asset locker solution. It uses the ERC-1155 multi-token standard to allow users to lock and vest both fungible ERC-20/BEP-20 tokens and ERC-721 NFTs. ApeSwap and RadioShack have already partnered with the protocol.
The team explained that FlokiFi Locker is using Chainlink Keepers to help automate the token locking process. The Chainlink Keepers has numerous advantages, including high uptime, low costs, a decentralised execution process, and expandable execution.
Floki added by leveraging Chainlink Price Feeds, it can display token locking prices for over 500 assets across our multi-chain protocol. This means that FlokiFi can display highly accurate, reliable, and decentralised price data on its protocol.
The team said they chose Chainlink Price Feeds due to access to high-quality data, secure node operators, transparency, and dealing with a decentralised network.
Commenting on this latest development, B, Core Contributor of Floki, said;
“As an innovative DeFi protocol that prioritizes security, decentralisation, and transparency, the industry-leading Chainlink is the default oracle network we considered. We’re excited to use Chainlink Keepers to help automate our token locking process, and Chainlink Price Feeds to help display accurate token prices. ”
Floki is the people’s cryptocurrency and a project that aims to disrupt the crypto industry by providing solid utility while leveraging the power of memes to ensure mainstream appeal and adoption.