BinStarter Leverages Floki's DeFi Locker Solution for Liquidity Token Security

To strategically enhance the security of its liquidity tokens, BinStarter, a top-tier decentralized launchpad, has x.com/RealFlokiInu/status/1807715756127449560″ target=”_blank” rel=”noopener nofollow”>Announced its adoption of Floki’s DeFi locking protocol, FlokiFi Locker. As revealed, the protocol will help BinStarter to securely lock its liquidity tokens again.

BinStarter locks liquidity again with Floki Locker

On Monday, the team behind Floki took to the x platform (formerly twitter) to share the update with the crypto community. By adopting Locker, the cross-chain launchpad plans to once again lock its liquidity tokens, protecting them from any potential criminal activity and increasing investor confidence.

In the DeFi space, this procedure is important as it prevents liquidity from being removed too early, which could undermine the stability of a project and jeopardize investor interest.

According to the team, this new lock demonstrates the “strong and trustworthy collaboration” it has maintained with BinStarter since August 2022. With this collaboration, the project hopes to accelerate the widespread acceptance of the Locker protocol and make it a standard feature for projects around the world.

The message read:

This new lock highlights the strong and trustworthy partnership we have had with BinStarter since August 2022. This partnership aims to drive mass adoption of the FlokiFi Locker protocol and establish it as a standard feature for projects worldwide.

So far, the project team has taken steps to address any misconceptions about the development, noting that just because a project implements a lock with their locking solution does not mean they endorse the project, but rather it underlines the use of their cryptographic locking system.

Following its initial launch in 2022, the locker solution quickly gained popularity in the crypto world and secured significant partnerships with key protocols such as Chainlink, ApeSwap, and others. Beyond the benefits of each integration, Floki hopes to expand its reach in the blockchain business through these collaborations, which introduce the service to new and potential investors.

According to the team, the solution is the only locker protocol in the world that has adopted the ERC-1155 standard. In additionLocker is the only protocol that allows batch locking of nfts and locking multiple assets in a single transaction.

The team warns about fraudulent tokens

This recent development comes after the platform x.com/RealFlokiInu/status/1807133238055628806″ target=”_blank” rel=”noopener nofollow”>warned Its robust community has been concerned about the appearance of fake FLOKI tokens on the Solana and Base blockchains. This warning is especially relevant with the current wave of negative sentiment seen around the meme coin market.

The team stressed that these fake tokens aim to take advantage of unsuspecting investors by imitating the brand name and are not backed by the project. They therefore urged the community to avoid them. Floki-branded tokens on the Solana and Base blockchains, emphasizing that the token only works on the ethereum and BSC networks.