To strategically improve the security of its liquidity tokens, BinStarter, a top decentralized launchpad, has announced its adoption of Floki’s DeFi locker protocol, FlokiFi Locker. As disclosed, the protocol will help BinStarter lock its liquidity tokens safely again.
BinStarter Re-Locks Liquidity With Floki’s Locker
According to the team, this relock demonstrates the “firm and dependable cooperation” it has had with BinStarter since August 2022. With this collaboration, the project hopes to accelerate the Locker protocol’s widespread acceptance and make it a standard feature for projects worldwide.
The post read:
This relock highlights the robust and reliable partnership we have maintained with BinStarter since August 2022. This partnership aims to spur the mass adoption of the FlokiFi Locker protocol and establish it as a standard feature for projects around the world.
Thus far, the project’s team has taken measures to address any misconception of the development, noting that a project carrying out a lock with its locker solution does not mean they endorse the project. Rather, it underscores the use of its crypto locker system.
According to the team, the solution is the only locker protocol in the world that has embraced the ERC-1155 standard. Furthermore, the locker is the sole protocol that enables batch locking of NFTs and multiple asset locking in a single transaction.
The Team Warns Of Fraudulent Tokens
This recent development comes after the platform warned its robust community about the emergence of fake FLOKI tokens on the Solana and Base Blockchain. This warning is especially relevant with the current wave of negative sentiment witnessed around the meme coin market.
The team emphasized that these fake tokens are intended to take advantage of unsuspecting investors by imitating the brand’s name and are not supported by the project. Thus, they have urged the community to avoid FLOKI-branded tokens on the Solana and Base blockchain, underlining that the token only functions on the Ethereum and BSC networks.
Featured image from Adobe Stock, chart from Tradingview.com
