After the Dogecoin and Shiba Inu, another meme coin is on the rise, which is popularly known as Floki Inu (FLOKI). This meme crypto asset grabbed everyone’s attention and the spotlight last month, thanks to an intriguing ad campaign on London’s public transport system. The slogan that caught everyone’s eye was “Missed Doge? Get Floki”, which was also a way to regulate the digital asset.
Now, the meme coin FLOKI has once again made the headlines as the team behind it has announced that it is merging with Chainlink (LINK).
Meme-inspired crypto assets are all the buzz, however, their prominence is considered to be short-lived as compared to digital assets such as Bitcoin or Ethereum. Let’s find out how Floki Inu’s integration with Chainlink can make a difference.
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Why Floki Inu is to be Merged with Chainlink?
Floki Inu plans to integrate with Chainlink (LINK) and its oracle in an attempt to enter the decentralized finance (DeFi) space. This is not only anticipated to boost the value of Floki Inu but will also offer several possibilities to the hodlers.
It was revealed on Twitter that smart contracts can be seen as great innovation but what they can make happen is limited due to the “inability to access off-chain data.”
An oracle, on the other hand, solves this problem as it provides comprehendible data from the real world.
According to Floki Inu’s team, Chainlink is one of the most respected and biggest oracle solutions. It has a market capitalization of about $11 billion and it helps in securing smart contracts that are worth more than $75 billion. This offers secure access to market data that is:
The integration of FLOKI with LINK is anticipated to be most beneficial for the Floki Inu hodlers. This merge would allow the enthusiasts and hodlers of FLOKI to use their tokens and stake, borrow or lend them.
It would also enable the FLOKI hodlers to use their funds as “collateral on decentralized finance protocols”. The token hodlers would also be able to take out loans without exposing the meme crypto asset.
What Should Crypto Investors and Traders Know?
Floki Inu is a direct competitor of the top two meme coins, Dogecoin and Shiba Inu and was launched on the Binance Smart Chain. The discussions regarding the merging of FLOKI with Chainlink had been going on for quite some time and according to FLOKI’s team, several DeFi solutions were considered to be used.
However, this integration of the meme-inspired digital asset with Chainlink is expected to make a difference and hopefully give a boost to its price as well.
If you want to buy FLOKI you can do so by using Uniswap. However, you need to purchase Ethereum first, in which case make sure you use a crypto exchange with the lowest fees.
Therefore, if you are interested in buying well-established digital currencies such as BTC or ETH, you can click on SwissBorg or Kraken (U.S. citizens).
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