Floki Inu Looks to Overtake SHIB With New Chainlink-Powered DeFi Platform InvestorPlace - Stock Market News, Stock Advice & Trading TipsFloki Inu is coming to investors' attention today as it announces integration of Chainlink data within its token ecosystem.The...
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Pupcoins are inescapable at this point. After spending the last 12 months flexing the monolithic financial potential of the hyper-niche asset class, these crypto plays are only becoming more robust. Floki Inu (CCC:FLOKI-USD) is a shining example with its news today. After spending the last handful of months steadily gaining in price off of hype and advertising alone, it's taking a new step to secure its longevity. Now, it looks like it will become a DeFi power play through a major partnership.
Floki is having an explosive 2021 as it works to catch up with pupcoin leaders Dogecoin (CCC:DOGE-USD) and Shiba Inu (CCC:SHIB-USD). The token's marketing efforts are unmatched; it came to mainstream notoriety after securing advertisements in London's underground train facilities. Now, it's stunning the crypto world by partnering up with not one, but three professional soccer teams. The teams, based in Italy, Spain and India, will be sporting the viking helmet-adorned Shiba Inu logo of the token on uniforms and around facilities.
This savvy marketing is what's allowing FLOKI to post gains of almost 7,000% since the token's launch in July. But news coming from the pupcoin camp today is making a much stronger case for the currency; it's also shocking skeptics who think the token is all flash and no function.
Floki Inu Secures Partnership With Chainlink to Begin DeFi Push
If you want to quell criticism of a token, give that token a compelling function. Floki Inu does have plans in place for a metaverse and a non-fungible token (NFT) marketplace. However, some skeptics don't believe it's enough to justify FLOKI as a long-term holding. If that's the case, it will be hard to argue the same over the Floki Inu token's partnership with blockchain data giant Chainlink (CCC:LINK-USD).
Chainlink is one of the most popular choices for a network in seeking out real-time data aggregation on the blockchain. The Chainlink network has inked deals with the likes of Cardano (CCC:ADA-USD) to supply its data. Moreover, it continues to bulk up its offerings, like with its recent partnership with the Associated Press, which will help bring real-time news data to the network.
Now, Floki will have the benefit of Chainlink at its advantage as it pursues the DeFi space. Specifically, Floki is tapping Chainlink in order to get real-time, on-chain prices for cryptocurrencies across the Ethereum (CCC:ETH-USD) and Binance (CCC:BNB-USD) networks. Using this data, Floki will be able to offers its users a space to swap and stake assets. The news is reminiscent of Shiba Inu's ShibaSwap, the SHIB-centric exchange ecosystem.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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