Folks Finance has integrated Shiba Inu (SHIB) into its cross-chain lending markets through Chainlink's Cross-Chain Interoperability Protocol (CCIP). This integration allows users to deposit SHIB to earn yields or use it as collateral for borrowing other assets. Folks Finance is the first major project on Chainlink to adopt SHIB in this manner.
The integration follows Shiba Inu's partnership with Chainlink, enabling SHIB to operate across 12 blockchains, including Optimism and Polygon. This move aims to unify SHIB liquidity across networks, offering depositors an annual percentage yield (APY) of 10.93%. The initiative supports SHIB's growing adoption, despite recent price corrections, and coincides with the launch of a new Shiba Inu-focused exchange-traded product in Europe.
Folks Finance Integrates Shiba Inu for Cross-Chain Lending via Chainlink
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