- FlokiFi Locker’s TVL has surpassed the $100 million milestone according to the latest data, marking a major development for the ecosystem.
- This achievement illustrates the trust and adoption of the network and furthers the network’s native token price growth.
Floki Inu investors are celebrating a major milestone achieved by the ecosystem. According to data shared by the official Floki Inu X account, FlokiFi Locker’s TVL has reached a new all-time high as it surpassed $100 million. According to the team, the TVL now stands at $107 million.
The network’s TVL has been on a steep climb over the last couple of weeks, breaking its highs week by week. This suggests a rapidly growing adoption as well as great trust in the network from investors and users. Sharing the exciting development, the team stated;
In a sign of massive adoption of #Floki‘s utility and strong trust in the Floki brand, @FlokiFi
Locker’s TVL is now at $107 MILLION — an ATH. This is the first time the protocol’s TVL will exceed $100 million, which shows strong industry trust in the Floki ecosystem!
It is worth noting that while this is a huge win for the project, it pales in comparison to the top DeFi platforms. Ethereum which is the biggest DeFi platform according to DefiLlama has $26 billion in TVL, and TRON has around $7.5 billion. Solana on the other hand has nearly $650 million and Cardano has around $257 million. If Floki can sustain its upward trajectory, it could easily overtake Cardano and Solana. This would mark a huge achievement for the relatively new project, as its immediate competitors have been in the industry for years.
The FlokiFi Locker platform was designed for users to safely store their FLOKI tokens and allows users to lock LP tokens, fungible tokens, and NFTs. The protocol offers a unique burning feature with every successful lock transaction on the ETH and BSC chains buys and burns FLOKI. This enhances the token’s utility while making it deflationary.
These developments are playing a huge role in the growth of the project’s native token, FLOKI. At the time of press, FLOKI is trading for $0.00003188 after a marginal drop of less than 1 percent. Given the recent developments, the altcoin is a favorite among analysts and investors. In the past 2 years, FLOKI has lost nearly 90 percent of its value after reaching an all-time high of $0.00033651. However, it is important to note that the token has gained more than 37,000 since its launch.
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