Floki Inu to be Accepted as Collateral for Lending on Venus Protocol

Vignesh Karunanidhi
Floki Inu Now Accepted as Collateral for Lending on Venus Protocol
Source: StormGain

Floki Inu has been making headlines with its outstanding performance. The meme coin is up by 113% over the last 14 days and 336.4% in the last 30 days. FLOKI is also up by 3% in the last 24 hours and is trading at $0.00005020 at press time.

Its popularity has also paved the way for its adoption. According to the latest details shared by the Floki Inu developers with CoinDesk, the meme coin will soon be accepted as collateral on the Venus Protocol. Venus is the second-largest cryptocurrency lending protocol on the BNB chain.

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Source: The VR Soldier

Floki Inu can soon be used to borrow cryptocurrencies on Venus

According to the details, the meme coin will soon be enabled as collateral that can be used to borrow different cryptocurrencies on the platform. The move is also considered one of the main moves to position Floki as a serious competitor.

Venus holds over $800 million in locked assets as of Friday and will integrate the meme coin into its isolated money markets. This move will help users borrow USDT, BNB, USDC, and other cryptocurrencies using FLOKI.

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This is indeed a piece of good news for the holders of the meme coin. The addition of FLOKI is expected as early as March.