Shiba Inu Rival Floki Undergoes Major Upgrade

• Floki is reported to have upgraded its network after its crypto locker protocol, FlokiFi Locker went live.

• Investors have reacted strongly to this development as the asset surges by 16 percent in the last seven days. 

Shiba Inu’s rival, Floki, a digital asset that came back into existence in 2021 after Elon Musk’s tweet is currently embarking on a groundbreaking upgrade. According to the latest report, its crypto locker protocol, FlokiFi Locker, has just gone live on the 14 EVM-compatible blockchains mainnet.

It was initially available on 12 blockchains namely; “ETH, BSC, Arbitrum, Polygon, Fantom, AVAX, Optimism, KCC, OKXChain, Cronos, Evmos, and Dogechain.” From the recent upgrade, Floki now supports two additional blockchains – Base, and opBNB. Experts predict an unprecedented increase in adoption rate and expansion of the utility of the token. Its reputation is strongly embedded in CertiK’s security score.

FlokiFi Locker is a crypto locker protocol for locking Liquidity Pool (LP) tokens, fungible tokens, NFTs, and multi tokens. It is a secure protocol audited and monitored in real-time by the industry’s top security auditor, Certik. FlokiFi Locker is the industry’s most innovative crypto locker protocol backed by the strong Floki brand!

Some of the features added after its upgrade include a referral program. This implies that users can earn 25 percent of fees from tokens and LP Locks. The referral link can be directly generated from the Flokifi website. 

Getting a FlokiFi Locker referral link is quick and seamless. Anyone can do it; there is no minimum or maximum amount of lock value you are required to refer to get paid, and payments are automatically sent to your wallet upon the completion of a lock.

More on the Floki Upgrade 

Another added feature is the support for native payment. This version of FlokiFi Locker only permits payment of fees for token locks in USDT. 

With this upgrade, anyone can pay FlokiFi Locker fees directly with the native token of the chain they are locking tokens on. This will boost adoption by lowering the barrier to locking an asset, as users no longer have to purchase USDT or USDC before locking their assets.

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Also, there is support for V3 Positions NFT LP tokens. This indicates that users would be able to lock V3 LP tokens using the FlokiFi Locker app. Another one is the Extend Locks. Users can extend the lock for assets locked in FlokiFi Locker. Finally, there would be a Burn Functionality. This implies that users can use the Flokifi locker app to burn “LP tokens, fungible tokens, NFTs, and ERC-1155 tokens.”

According to a different report, Floki (FLOKI) developers have planned to launch a staking feature for a new utility token. This is to increase the interest of investors in the ecosystem. 

The chief developer identified as “B” explained:

Users will be able to earn the reward token by locking up their FLOKI tokens for a period of between 3 months to 4 years. We envision this resulting in a significant portion of FLOKI tokens being locked up for an extended period of time, which will significantly reduce the amount of FLOKI tokens in circulation and add significant value to the FLOKI token.

As of the time of writing, Floki had a bullish market sentiment and was trading at $0.000019. In the last seven days, the asset has surged by 16 percent. In just 24 hours, it has surged by 6 percent. 

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