#FLOKI’s partnership with Inverse Finance
FLOKI Inu cryptocurrency has partnered with Inverse Finance to create a new decentralized finance (DeFi) possibilities for the token holders.
The team behind the $FLOKI blockchain project announced the new partnership with the decentralized finance platform with a write up on Medium & Twitter. Through this partnership, $FLOKI investors can now access decentralized loans and earn inverse finance’s native $INV token. According to data from Etherscan, Inverse Finance has received over $45 million worth of $FLOKI. The amount of $FLOKI sent to the platform has reached over $20 million within an hour, says Nour Haridy (founder of Inverse Finance).
Inverse Finance is a project that uses smart contracts to provide financial services to its users. For instance, through its FLOKI Inu pool, users can now borrow from the platform’s stablecoin, known as DOLA. These loans are secured by the user’s collateral. If the value of their loan goes over 100%, they will liquidate and the interest rate is 13%. FLOKI Inu is a decentralized platform that enables people to earn cryptocurrency through a variety of means. Its addition to the platform was prompted by an on-chain governance proposal passed by the Inverse Finance crowd. In a move to enter the decentralized finance space, FLOKI Inu has partnered with Chainlink and its oracle as well. These two companies will be working together to integrate their solutions and allow holders to borrow and stake their tokens.
The goal of this project is to allow $FLOKI holders to convert their funds into fiat and take out loans without losing their exposure to the cryptocurrency. FLOKI Inu launched a campaign to promote itself on London’s public transportation system. The project’s head of marketing said that the goal was to raise the public’s confidence in the cryptocurrency. In my opinion, this is a huge step for the platform and its investors. $FLOKI holders finally have the ability to earn through their holdings. In the first 24 hours after its integration, Inverse saw an inflow of $44 million.
DISCLAIMER: The opinions and views expressed in this article are those of the author’s and do not reflect the opinions and recommendations of financial professionals. The article was written exclusively for Medium and it is for informational purposes only.
