TokenFi, Chainlink partner up: Will FLOKI see a boost?
- Chainlink brings with it expertise in powering RWA projects.
- TOKEN recorded impressive monthly gains of 68.4%.
The high-stakes project is an attempt to grab a piece of the growing tokenization industry, which is anticipated to balloon to $16 trillion by 2030.
The important link
The team announced that Chainlink [LINK], along with other key partners, will provide tech support to the upcoming module.
TokenFi went on to say that the RWA platform will make use of Chainlink’s flagship products such as the Chainlink Cross-Chain Interoperability Protocol (CCIP) and Proof of Reserve (PoR).
TokenFi’s collaboration with Chainlink is a significant accomplishment, given the latter’s long history of providing RWA tech infrastructure.
Having enabled more than $9 trillion in transactions already, Chainlink’s arsenal of sophisticated products is powering the growth of RWA platforms.
RWA tokenization has become one of the hottest crypto narratives in the bear market. Tokenization involves representing real-world assets, such as real estate, commodities, and bonds, as tokens on a blockchain.
As of this writing, RWA protocols boasted of a total value locked (TVL) of $5.7 billion, AMBCrypto discovered using DeFiLlama’s data.
In addition, TokenFi also talked about the implementation of the ERC-3643 standard. The standard gives users more control over their tokenized assets. Assets worth $28 billion have been brought on-chain using the standard, TokenFi claimed.
TOKEN on the move, FLOKI falters
TokenFi has garnered considerable interest in the crypto space ever since its unveiling last month. At the heart of the project is the native asset, TOKEN, which has been trading on select decentralized and centralized exchanges.
How much are 1,10,100 FLOKIs worth today?
After an initial frenzy, the value of the asset stabilized, exchanging hands at $0.0271 at press time, per CoinMarketCap. Nonetheless, it still recorded impressive monthly gains of 68.4%
However, FLOKI hasn’t tasted similar success of late. The fourth-largest meme coin by market cap lost more than 10% of its value in the last month, sitting at $0.00003213 at press time.