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Loki project is making a step forward to integrates the DeFi craze

By Inkarias - 2020-10-01

During the previous weeks, the Loki’s team has prepared several major announcements regarding the state of the market in order to evolve accordingly to what users are looking for when they enter the cryptocurrency sector and more specifically DeFi-based projects. In that way, the first major announcement shared recently is the full rebrand from Blockswap to ChainFlip.

In short, Chainflip relies on combining some concepts that DeFi users will be familiar with, including liquidity pools and arbitrage-based price regulation with some new elements, including decentralised vault nodes and quoters, and a web front end that can be accessed both via the clearnet and anonymously through a Lokinet SNApp. The decision to rebrand was taken after encountering issues and competition for the Blockswap domain and SEO namespace which could lead to difficulties standing out of the competitors or bringing awareness.

ChainFlip and upcoming wLoki

The second official announcement made earlier is the addition of a wrapped LOKI token called wLOKI which will soon be available for trading on Uniswap. wLOKI makes it easy for people in the Ethereum DeFi ecosystem to join the Loki community in a few clicks. The goal behind this integration is to connect Loki with existing DeFi infrastructure. wLOKI connects Loki to Ethereum’s established ecosystem, providing a new Loki onboard while giving the opportunity to earn LOKI.

How ChainFlip liquidity works

Community members will be able earn LOKI by providing liquidity to the wLOKI/USDT pool on Uniswap. This incentive scheme is provided by the Liquidity Fund being created in the upcoming Salty Saga hardfork, due early next month. This will enable investors to swap the wLOKI to LOKI directly in both ways from the Chainflip interface.

If you are looking for more details about ChainFlip and Loki’s DeFi integration, all the available information can be found on https://loki.network/