The FlokiFi platform will allow Polygon Ecosystem projects to lock their LP tokens, NFTs, ERC-1155 tokens, and other types of tokens.
Users of the Polygon projects will be able to see that security mechanisms are in place to prevent asset theft.
In addition to batch locking of NFTs, FlokiFi allows for the locking of multiple assets in a single transaction.
Several projects have incorporated crypto lockers into their platforms in the past.
With an impressive 1.3 billion+ transactions and ~2.7 million monthly active users, Polygon is the leading decentralized Ethereum scaling platform. #FlokiFi Locker aims to be the main crypto locker on Polygon!
— FLOKI (@RealFlokiInu) November 8, 2022
With this new development, FlokiFi will offer projects on the Polygon Ecosystem to lock their LP tokens, NFTs, ERC-1155 tokens, and others. The Polygon Projects will show users that security mechanisms are in place to protect their assets from theft and rug pulling. With the FlokiFi locker, locked assets will come with proof on the blockchain and a link on the FlokiFi webpage.
It is worth noting that FlokiFi Locker is a crypto locker protocol that prioritizes security. As the team claims, the solution is the only locker protocol globally that has adopted the ERC-1155 standard.
Further, FlokiFi is dubbed the only protocol that supports batch locking of NFTs and allows for the locking of numerous assets in a single transaction. Therefore, earning it a reputable tag in the cryptocurrency sphere.
The innovative contribution that FlokiFi Locker adds to every ecosystem hasn’t gone unnoticed by the prominent protocols in the cryptocurrency space. In the past, projects like Multifarm, Yodeswap, Fantom, Spookyswap, Trader Joe, OKX chain, Ku Coin, Infinitypad, Cherry Swap, Ape Swap, and many others have incorporated the crypto locker into their platform.
Notable Side Notes About Polygon
On numerous occasions, Polygon has established itself as an ideal blockchain for different innovative solutions. The Ecosystem has attracted multiple projects that have gained wider recognition in the industry. Projects prioritizing speed, low fees, and eco-friendliness prefer to launch on Polygon.
Recently, Bebop, a decentralized trading platform, became integrated into the Polygon Network. The DEX revealed that it chose the network to let its users enjoy low network fees.
The ecosystem currently hosts some of the biggest Web 2.0 and Web 3.0 projects, such as Aave, Uniswap, OpenSea, Starbucks, Meta, Stripe, and Adobe.
On the Flipside
The FlokiFi was created by the Floki team, a meme coin project that started last year with a tweet from Elon Musk. But major DeFi projects are recently incorporating the FlokiFi protocol into their platforms.
Why You Should Care
According to the project, the FlokiFi Locker enables users to lock up their assets against theft, rug pulling, and schemes aimed at fleecing them. In this way, Polygon may be able to provide a higher level of security for its digital assets.