FlokiFi Locker upgrade goes live

FlokiFi has announced launching the upgraded version of its locket on a total of 14 EVM-compatible blockchains. FlokiFi Locker was previously live on 12 blockchains, including, but not limited to, Polygon, Arbitrum, and KCC. Two newly added blockchains are Base and opBNB. The upgraded version of FlokiFi Locker can now be accessed on the mainnet of 14 blockchains.

The idea behind launching the upgrade is to boost the utility of the $FLOKI token and accelerate the protocol adoption.

FlokiFi Locker has added a referral program, support for native payments, support for V3 positions of NFT LP tokens, the ability to extend locks, and burn functionality. The recently introduced referral program makes it simple for users to generate a referral link. They are not subject to a minimal payout threshold in order to receive compensation for referrals. Therefore, the likelihood of obtaining 25% fees from token and LP locks is significantly greater.

Referral links can be generated from the FlokiFi website and shared with family and friends. Payments for referrals are automatically sent to the wallets of users. There is no need to manually generate the transaction.

The upgraded version of FlokiFi Locker eliminates the need to purchase USDC or USDT. The previous version of Locker would want users to buy to pay the Locker fees. However, the upgrade boosts the utility of native tokens to allow users to use them for settlement. Such a feature came at a time when FlokiFi Locker locked in $9 million in TVL. This dates back to late January 2023, highlighting that a significant increase is possible at any time. This marked an increase of 127% in just four days.

The FlokiFi Locker upgrade introduces support for V3 positions of NFT LP tokens. Users can lock it directly through the application of FlokiFi Locker. V3 LP Tokens, also known as V3 Position NFTs, gain a significant boost with this upgrade. Extending locks in the upgrade refers to extending the locks for a longer time, even if the expiration is yet to come. Extension of locks has been specifically done for assets.

Lastly, the burn functionality lets users directly destroy tokens, NFTs, fungible tokens, and ERC-1155 tokens via the FlokiFi Locker – crypto locker protocol application.

The community has appreciated the upgrade, especially for the list of features that it is bringing along. Most congratulated the Floki team for achieving this feat, while others sought more such developments.

Many experts have also taken a call on this upgrade. They have shared the announcement with their respective followers while highlighting that two new blockchains have been added: Base and opBNB. One expert, B (Da Viking), has said that the upgrade to FlokiFi Locker signifies the commitment of FlokiFi to innovation and pushing the boundaries.

This has had little impact on the native token, which is down to $0.00001776 by 3.80% in the last 24 hours.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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