BinStarter Leverages Floki s DeFi Locker
Solution For Liquidity Token
Security
BinStarter Leverages Floki s DeFi Locker Solution For Liquidity Token
Security
by Godspower Owie
2 mins ago
in Floki Inu
0
To strategically improve the security of its liquidity tokens, BinStarter, a
top decentralized launchpad, has announced its adoption of Floki’s DeFi locker
protocol, FlokiFi Locker. As disclosed, the protocol will help BinStarter lock
its liquidity tokens safely again.
BinStarter Re-Locks Liquidity With Floki s Locker
On Monday, the team behind Floki took to the X (formerly Twitter) platform to
share the update with the crypto community. By adopting the Locker, the
cross-chain launchpad plans to relock its liquidity tokens, protecting them
from any potential criminal activity and boosting investor confidence.
In the DeFi space, this procedure is important since it keeps liquidity from
being removed too early, which could undermine a project s stability and
jeopardize the interest of investors.
Related Reading: Floki And TokenFi Developers Propose Game-changing Upgrade –
Here’s What It Does
According to the team, this relock demonstrates the firm and dependable
cooperation it has had with BinStarter since August 2022. With this
collaboration, the project hopes to accelerate the Locker protocol s
widespread acceptance and make it a standard feature for projects worldwide.
The post read:
This relock highlights the robust and reliable partnership we have maintained
with BinStarter since August 2022. This partnership aims to spur the mass
adoption of the FlokiFi Locker protocol and establish it as a standard feature
for projects around the world.
Thus far, the project s team has taken measures to address any
misconception of the development, noting that a project carrying out a lock
with its locker solution does not mean they endorse the project. Rather, it
underscores the use of its crypto locker system.
Following its initial launch in 2022, the locker solution quickly gained
popularity in crypto, securing major partnerships with key protocols like
Chainlink , ApeSwap, and others. Beyond the benefits of each integration,
Floki hopes to expand its reach in the blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн business• Экономика » Бизнес through these
collaborations, which introduce the service to new and prospective investors.
According to the team, the solution is the only locker protocol in the world
that has embraced the ERC-1155 standard. Furthermore , the locker is the sole
protocol that enables batch locking of NFTs and multiple asset locking in a
single transaction.
The Team Warns Of Fraudulent Tokens
This recent development comes after the platform warned its robust community
about the emergence of fake FLOKI tokens on the Solana and Base Blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн.
This warning is especially relevant with the current wave of negative
sentiment witnessed around the meme coin market.
Related Reading: Floki Shines: 12 Million Users Now Utilizing The Memecoin For
Transactions Via Binance Pay
The team emphasized that these fake tokens are intended to take advantage of
unsuspecting investors by imitating the brand s name and are not
supported by the project. Thus, they have urged the community to avoid FLOKI
-branded tokens on the Solana and Base blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн, underlining that the token
only functions on the Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum and BSC• Телекоммуникации и связь » Радио » Радиосвязь » Сотовая связь » TDMA » GPRS
• Телекоммуникации и связь » Телефонная связь » Сотовая связь » TDMA » GPRS networks. FLOKI trading at $0.00018367
on the 1D chart | Source: FLOKIUSDT on Tradingview.com
Featured image from Adobe Stock, chart from Tradingview.com
