CoinRabbit Updates

What is FLOKI INU? And How to get a FLOKI Loan?

(Last Updated On: )

Floki Inu is the people’s cryptocurrency and utility token of the Floki Ecosystem. It was launched in September 2021. The name was inspired by Elon Musk’s dog “Floki”.

FLOKI is an ERC-20 and BEP-20 compliant token. This means that it’s a multi-chain coin that runs on both the Ethereum and Binance Smart Chain (BSC) blockchains. 

 

What are the FLOKI projects?

Key FLOKI projects refer to the major initiatives that the project is working on to enhance its usability, adoption, and value proposition. Here are some of the key Floki Inu projects:

  1. Valhalla – It’s a play to earn NFT metaverse game runs on the Floki Inu token. In addition to being rewarded for battling in game, everything that you obtain in the metaverse is yours to own and to sell as you please.
  2. FlokiFi: FlokiFi Locker is an EVM compatible crypto locker protocol that allows to lock digital assets on up to 12 supported blockchains. It allows you to quickly and securely lock tokens, Liquidity Pool (LP) tokens, NFTs, and multi tokens.
  3. University of Floki: University of Floki will help fill the crypto education gap for over a billion users that are expected to enter Web3 in the coming years — all while creating awareness for the FLOKI token. The first release of asynchronous materials for University of Floki is expected in 2023.
  4. FlokiPlaces: Floki Inu also has an online store where users can purchase merchandise such as t-shirts, hoodies, and accessories featuring the Floki Inu logo and branding.
Floki University
Floki Places
FlokiFi
Valhalla

Overall, the key Floki Inu projects are focused on building a robust ecosystem that provides a wide range of services for users and promotes the adoption and value of the Floki Inu token.

 

What is a Floki Inu Loan?

As much as the Floki crypto is popular, it hasn’t been accepted by several crypto enthusiasts. There are heavy critics of meme coins as they are volatile. However, the token is part of several cryptocurrency portfolios due to its vibrant community and increasing number of use cases. 

CoinRabbit is one of the first crypto lending platforms to accept Floki Inu crypto to its massive family of cryptocurrency collateral. 

Therefore, a Floki Inu loan is a type of crypto loan offered to borrowers upon depositing the Floki Inu coin as their loan collateral. CoinRabbit supports FLOKI on Ethereum Blockchain Explorer (ETH) and Binance Smart Chain (BSC). 

Today, CoinRabbit offers crypto loans from 50% to 90 % LTV, meaning, for every $10 000 worth of Floki deposited, you get loan amounts of $5000 and $9000.

 

How to work with FLOKIs volatility to avoid liquidation?

FLoki crypto volatility can lead to liquidation. When you use your Floki Inu coin to take a loan, you should monitor your loan status. CoinRabbit offers an instant alert system, using messages (SMS and E-mails) to alert users in the event of a possible liquidation.

You can always add more collateral to adjust the Liquidation price of your loan. Loan collateral at CoinRabbit isn’t frozen; therefore, liquidation prices are adjusted immediately by adding more collateral or repaying your loan. 

What is also important – You can add more collateral at any time while the loan is open and decrease LTV. For example, minimum loan LTV at CoinRabbit is 50%. When you are getting a loan at CoinRabbit, you can increase collateral immediately after opening, so the LTV will decrease at the percent that would be comfortable for you.

Why take a Floki Loan?

Floki Inu coin has been an excellent investment for some, while it has also burned a few investors who didn’t get in at the right time. Funny moments in crypto investing involve newbie investors who keep buying high and selling low. Such unpredictable market behaviour can be escaped by taking Floki Inu loans.

However, investing in highly volatile cryptocurrencies like FLOKI crypto has been made simpler through the availability of FLOKI crypto lending platforms like CoinRabbit. Here are some reasons you should take a FLOKI crypto loan. 

  • Crypto Hedging

When you take a Floki Inu loan, you escape the crypto market risks. The loan amounts can be spent and repaid over a prolonged period, while your Floki crypto collateral appreciates. 

  • Enjoying the benefits of both worlds

A Floki Inu loan allows you to enjoy the benefits of both crypto and stablecoins. You can use your loan amounts issued in stablecoins to trade other cryptocurrencies or even make other investments as your Floki Inu collateral grows.

  • Risk Management Technique

Floki Inu loans provide crypto investors with an opportunity to manage their risks. Instead of holding Floki Inu tokens for yourself and risking high market volatility that could see the prices plummet, you can manage your investment risks by using your investment as collateral.

 

4 Steps to getting a Floki Inu Loan

 

Today, crypto loan platforms like CoinRabbit have significantly simplified the loan application processes. To get a Floki Inu crypto loan today, all you need to do is go to CoinRabbit’s homepage and follow the steps below. 

 

  • On the homepage, under the Loan calculator section, select Floki crypto as your preferred collateral. CoinRabbit supports FLOKI (ETH) and FLOKI (BSC).
  • Enter the amount of Floki Inu crypto you want to deposit as collateral, and the Calculator will show you the Loan Amounts you will receive and Click “Get Loan.”

  • After clicking “Get Loan,” we will ask you to confirm the details, enter your stablecoin address, and verify your phone number:

  • Next, send Floki Inu coins to the displayed address. After we receive your collateral, the loan will be sent to you immediately.

Conclusion:

Floki loans with CoinRabbit – is a great tool for crypto investors and holders: you can use a crypto loan to optimise your taxes, make a huge purchase, reinvest in new cryptocurrencies and many many more while continuing holding your digital assets. 

It’s important to remember that all operations with crypto are highly risky. When you get a loan with any crypto lending platform – don’t forget to check the status of your crypto loan periodically and add collateral if it’s needed to avoid liquidation of the loan.   

 

If you still have any questions you can always contact our team and customer support on our website and we will gladly help you. Or join our telegram group.

Rethink forward crypto loans with CoinRabbit.

Not financial advice. Do your own research and take everything moderately. Crypto-backed loans have their own risks that should be taken respectively.

 

Julia Mironova

Recent Posts

Cryptocurrency Long position vs Short Position: What’s the Difference?

In the ever-evolving world of cryptocurrency trading, investors employ various strategies to capitalize on market… Read More

2 months ago

What is JASMY coin and how to borrow against it?

The internet has revolutionized the way we work, play and live. From a digital blueprint… Read More

2 months ago

Best XDC Wallet: How to choose, and which one is the best

In the dynamic and rapidly evolving world of cryptocurrencies, the need for secure and reliable… Read More

3 months ago

How to earn interest on Crypto? Beat volatility with crypto savings!

Volatility is a double-edged sword in crypto peace. Crypto volatility has several similarities with the… Read More

3 months ago

What is Fetch.ai? Full FET guide for enthusiasts

Curious about Fetch.ai? Let's explore this innovative platform that merges technology and AI to transform… Read More

3 months ago

Bitcoin Halving 2024 countdown: Everything You Need to Know

As the cryptocurrency world continues to evolve, one event that always captures the attention of… Read More

3 months ago