Categories: FintTechMenafn

DeFi Lending Protocol Venus To Start Accepting Floki As Collateral

  • BNB Chain’s Venus Protocol has announced a partnership with Floki.
  • Venus will integrate Floki in their isolated markets allowing users to pledge FLOKI tokens as collateral.
  • FLOKI surged more than 2.5% following the announcement of the partnership.
  • The former meme coin has secured the top spot on Binance’s list of trending cryptocurrencies.

Floki has partnered up with Venus Protocol, the biggest lending protocol on the BNB Chain. As the second largest DeFi protocol on the BNB Chain, Venus boasts an impressive total value locked (TVL) of a whopping $1.35 billion, representing 84% of the market share of the BNB Chain lending TVL. 

Venus will integrate Floki into its isolated money markets

According to a blog post by Floki earlier today, Venus Protocol will soon integrate Floki into its isolated money markets. The DeFi lending giant will allow holders of the FLOKI token on the BNB Chain to borrow a wide range of cryptocurrencies like BNB, USDC, USDT, etc. by using FLOKI as collateral. 

The FLOKI integration process on Venus has started, and this is expected to be finalized in March after which Floki holders will be able to seamlessly lend and borrow on Venus while using their FLOKI tokens as collateral.”

The blog post further stated that Floki is looking forward to continuing building on the BNB Chain and making strategic partnerships to benefit FLOKI holders by enhancing the token’s utility and allowing its users to access liquidity without having to sell their tokens. The token, which started out as a meme coin, has evolved into a full-fledged Web3 venture with a considerable presence in the DeFi space. 

The growing popularity of FLOKI has helped it secure the top spot on Binance’s list of trending cryptocurrencies. News of the announcement sent FLOKI soaring nearly 3% earlier today. The price has since fallen considerably. On the other hand, Venus Protocol’s native token, XVS, has plummeted by more than 3%. 

Ryan Helton

A Stock enthusiast since childhood, Ryan is known for his impeccable knowledge in the technology and gadgets niche. He has been working with eTrendy Stock as a contributor for most stock category and his articles are always well-researched and accurate.

Recent Posts

ZEREBRO Price Collapses 40% in Just 3 Hours: Market Cap Tanks to $45 Million

Zerebro, one of the largest AI projects, has seen its price dropped sharply today, going…

7 hours ago

Ethereum Price Prediction: Can ETH Sustain Its Bullish Momentum as Price Surges 15%?

Ethereum is back in the spotlight, not for explosive price action, although it has made…

19 hours ago

Ajman Bank Successfully Prices USD 500 million Inaugural 5 Year Sukuk

Ajman, UAE, 25th April 2025, Ajman Bank P.J.S.C. (“Ajman Bank” or “the Bank”), the first Islamic…

1 day ago

The Rise of Autonomous Finance: How 9M is turning AI into a fully operational investment system

The Rise of Autonomous Finance: How 9M is turning AI into a fully operational investment…

1 day ago

Echo Launches Real Unique Tokenomics with Real Yield in USDC

Douglas, Isle of Man, 25th April 2025, ZEX PR WIRE, Echo is about to launch…

1 day ago

World of Dypians Wins $450K in BNB Chain’s Support Program and Announces Monumental New Features

Tortola, BVI, 25th April 2025, ZEX PR WIRE, World of Dypians (WoD), a highly immersive…

1 day ago