Wise Monkey (MONKY) has locked $6.2 million worth of liquidity pool (LP) tokens using FlokiFi Locker, the advanced crypto-locker protocol powered by $FLOKI.

The LPs have been locked for an unheard-of duration of time of 888 billion years in a symbolic gesture, stating the project’s commitment to the trust and value of its token holders.

Read: A Major MONKY Airdrop is Coming to all FLOKI and Token Holders

What Does This Lock Mean for MONKY Holders?

By locking such a large amount of liquidity, the Wise Monkey team has shown that they are committed to building a sustainable ecosystem. Liquidity locks are an industry standard in the cryptocurrency space to avoid rug pulls, which is when a project’s liquidity is pulled out from under its investors’ feet, leaving them with a loss.

Not only will this serve to secure the trust of investors for a longer period, but it will also increase the long-term value of $MONKY by maintaining its liquidity. To $MONKY holders, this step will no doubt signal a transparent, reliable, and long-term-oriented development of the project.

Why FlokiFi Locker?

FlokiFi Locker, developed by the FLOKI ecosystem, has grown as one of the most innovative and secure token-locking protocols in the whole cryptocurrency space. The proposed trustless and decentralized nature of its framework should provide projects with a very secure and reliable way to lock LP tokens, governance tokens, and even NFTs.

Every time a project locks tokens on FlokiFi Locker, it triggers an automatic FLOKI token burn, permanently removing a portion of FLOKI supply from circulation. This deflationary mechanism enhances the value of FLOKI for its holders.

Additionally, fees generated from FlokiFi Locker transactions contribute to the Floki treasury, further bolstering the ecosystem’s growth.

Must Read: Will Floki Inu Reach $1? Shocking Insights You Need to Know!

Impact on the Floki Ecosystem

Not only is locking liquidity a strength for the MONKY project itself but also highly beneficial for the Floki ecosystem in general. With each lock, there’s an amplified utility and increased adoption of FlokiFi Locker, support for treasury, and the value proposition of $FLOKI being propagated.

Conclusion

Wise Monkey decided to lock $6.2 million in liquidity pool tokens for an astronomical duration, showcasing their commitment to creating a robust and transparent ecosystem.

Through the use of FlokiFi Locker, $MONKY has made a bold step towards investor trust and added value to the deflationary success of the FLOKI token.

Read: MONKY token listing date: Why This Could Be Among The Best Airdrops Of 2024