Floki Integrates Chainlink Keepers and Price Feeds To Help Power FlokiFi Locker Protocol

Floki is excited to announce that FlokiFi Locker — our token locking protocol — has integrated Chainlink Keepers on BNB Chain and Ethereum mainnets. By leveraging the decentralized smart contract automation service, we’re able to securely and reliably automate the token locking process.

Additionally, following our previous integrations of Chainlink Price Feeds on BNB Chain and Ethereum, we’ve now expanded our use of Chainlink Price Feeds to Arbitrum, Avalanche, Fantom, Heco, Optimism, and Polygon. We’re now using Chainlink Price Feeds to display token locking prices for over 500 different assets.

Floki is a community-powered ecosystem that aims to give people control of their finances through DeFi, NFTs, and the metaverse. Along with bolstering our strong meme culture and providing further token utility for our community, Floki aims to build a school in every underdeveloped nation of the world. Memes, utility, and charity are the core pillars of Floki.

FlokiFi, short for “Floki Finance”, is the umbrella name for a suite of decentralized finance products that will be launching under the Floki brand. The first utility product that will be launching under the FlokiFi umbrella is Floki Locker, an innovative digital asset locker solution. It uses the ERC-1155 multi-token standard to allow users to lock and vest both fungible ERC-20/BEP-20 tokens and ERC-721 NFTs. ApeSwap and RadioShack have already partnered with the protocol.

Securely Automating the Token Locking Process With Chainlink Keepers

Chainlink Keepers is a decentralized service purpose-built to manage tasks on behalf of smart contracts. FlokiFi Locker is using Chainlink Keepers to help automate the token locking process. When users deposit tokens and make a request to lock them through the UI, Chainlink Keepers help automate the backend smart contract processes. This creates an efficient token locking process that reduces the time engineers need to spend managing the protocol and eliminates the need for centralized automation solutions that introduce a single point of failure to the platform.

Some of the notable features of Chainlink Keepers include:

• High Uptime — Chainlink Keepers are run by the same professional DevOps teams that have an established on-chain performance history of providing high reliability to Chainlink Price Feeds during extreme network congestion and market volatility.
• Low Costs — Chainlink Keepers have several gas-optimizing features that lower the costs of automating maintenance tasks for users, including a rotating node selection process to prevent gas price auction wars and stabilize costs.
• Decentralized Execution — Chainlink leverages a decentralized and transparent pool of Keepers to help provide strong guarantees around secure contract automation, saving teams time and mitigating the risks around manual interventions or centralized servers.
• Expandable Computation — Chainlink Keepers perform off-chain computations and generate calldata verifiable by smart contracts, allowing developers to build advanced, trust-minimized dApps at lower costs.

Displaying Accurate Token Locking Prices With Chainlink Price Feeds

By leveraging Chainlink Price Feeds, we’re able to display token locking prices for over 500 assets across our multi-chain protocol. By leveraging the industry-leading price data solution, which underpins the DeFi economy, we’re able to display highly accurate, reliable, and decentralized price data on our protocol.

We chose to integrate the industry-leading Chainlink Price Feeds because they provide:

• High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned from outliers and suspicious volumes. Chainlink’s data aggregation model generates more precise global market prices that are resistant to API downtime, flash crash outliers, and data manipulation attacks like flash loans.
• Secure Node Operators — Chainlink Price Feeds are secured by independent, Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.
• Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by the data provider or the oracle network.
• Transparency — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.

“As an innovative DeFi protocol that prioritizes security, decentralization, and transparency, the industry-leading Chainlink is the default oracle network we considered. We’re excited to use Chainlink Keepers to help automate our token locking process, and Chainlink Price Feeds to help display accurate token prices. ” — B, Core Contributor at Floki

About Chainlink

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About Floki

Floki is the people’s cryptocurrency and a project that aims to disrupt the crypto industry by providing solid utility while leveraging the power of memes to ensure mainstream appeal and adoption.

Learn more about Floki by visting floki.com and follow Floki on Twitter: @RealFlokiInu.