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SHIB Competitor Floki Inu Partners with Chainlink (LINK) to Improve Its Protocol

Mon, 08/15/2022 - 16:03
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Gamza Khanzadaev
Floki Inu integrates Chainlink services in attempt to overtake Shiba Inu
SHIB Competitor Floki Inu Partners with Chainlink (LINK) to Improve Its Protocol
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Floki Inu has announced the integration of Chainlink Keepers service into its token-locking protocol, FlokiFi Locker. The current innovation is a continuation of Floki Inu's commitment to improve the performance of its services and further expand its user base. With Chainlink Keepers, a decentralized service designed to manage tasks on behalf of smart contracts, the process of token locking by users through FlokiFi Locker promises to become both faster and more efficient as well as more secure.

.@RealFlokiInu has integrated two Chainlink trust-minimized services:

Keepers to help automate its token locking process.

Price Feeds to display accurate prices across #Arbitrum, #Avalanche, #BNBChain, #Ethereum, #Fantom, #Heco, #Optimism, and #Polygon.

— Chainlink (@chainlink) August 15, 2022

This is not the first collaboration between the two crypto companies. Floki Inu already worked with Chainlink to integrate the Chainlink Price Feeds service into FlokiFi Locker. Thanks to that innovation, the display of accurate prices for token locking in different networks became available in the FlokiFi Locker.

Chainlink is everywhere, except ETH PoW

Every day, more and more different crypto start-ups resort to using Chainlink services. Integrations in various projects, protocols and platforms in all major networks perfectly underpin Chainlink's position in the crypto space. Nevertheless, the company itself is not ready to take on much and thus, for example, decided not to support future PoW forks of Ethereum.

This fact definitely caused a lot of headaches for those projects that are not making the Merge in the upcoming September Ethereum update. Chainlink, in turn, gave an account of the prevalence of its services and urged developers who are not confident in migrating to PoS to suspend activities to avoid losses from users.

While the fate of PoW forks of Ethereum is not entirely clear, it is disappointing that such significant companies as Chainlink have decided not to work with such infrastructure.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.