Floki Launches Project L Innovation

With the FlokiFi Locker, tokenized assets are now protected from rugs and hacks.

By
Abiodun Oladokun
on
August 2, 2022
Category:
DeFi

Meet FlokiFi Locker

In a recently published roadmap, the developers of the popular meme-project Floki announced plans to launch “Project L.” According to the roadmap, Project L will be deployed to enhance the utility of the project’s FLOKI tokens. 

Launched as the first utility product contained within Floki’s FlokiFi -- an umbrella name for a suite of decentralized finance products to be unveiled under the Floki brand -- Project L is an asset locker that allows investors to lock all kinds of tokenized assets.

According to the blog, Project L is the codename for the FlokiFi Locker built to let users “lock and vest fungible tokens (ERC-20/BEP-20 tokens like FLOKI), Liquidity Pool (LP) tokens, NFTs, and Multi tokens.”

Further, transaction fees for locking all forms of tokenized assets will initially be paid in $USDT. At a later date, payment with any other form of cryptocurrencies will be supported. 

Developed to provide more utility to Floki’s native token, FLOKI, the FlokiFi Locker is powered by $FLOKI. According to the blog,

 “25% of the transaction fee automatically does a transactional buy and burn of FLOKI tokens — making the FLOKI token perpetually deflationary. The remaining 75% goes to the Floki treasury.”

Users can access the FlokiFi Locker on testnet and can lock assets via: https://testnet.flokifi.com/ 

What is Floki: 

Floki 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. Floki is currently the third most popular meme token on the market behind Dogecoin and Shiba Inu. It is backed by a community of committed enthusiasts and a strong marketing campaign.

Where else to find out about Floki:

Website | Twitter | Telegram | Discord |

 

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Abiodun Oladokun

Abiodun Oladokun is a Blockchain Research Analyst and a Lawyer with over 2 years of practice experience. With keen interest in how the blockchain infrastructure works, he has conducted extensive research into various parts of the technology spanning cryptocurrency projects, DeFi and NFTs. He holds bags mostly in ETH, SOL, ENS and ADA.

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