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- Folks Finance integrates SHIB into Chainlink CCIP-enabled lending markets.
- SHIB depositors earn up to 10.93% APY with unified cross-chain liquidity.
- Adoption expands as SHIB launches ETPs in four European markets.
Shiba Inu (SHIB) has achieved another milestone in its growing adoption journey as DeFi lending platform Folks Finance announced the addition of SHIB to its Chainlink CCIP-enabled lending markets. The integration was revealed by Shiba Inu’s official X account on Tuesday, marking SHIB’s debut in cross-chain lending.
SHIB Becomes First Meme Coin in Cross-Chain Lending Markets
With this move, SHIB becomes the first meme coin supported in a cross-chain lending environment. Folks Finance confirmed that users can now deposit SHIB to earn yields or use the token as collateral to borrow assets across multiple blockchains. Powered by Chainlink’s Cross-Chain Interoperability Protocol (CCIP), the initiative allows SHIB to be accessible on 12 networks, including Avalanche, Polygon, Arbitrum, and Optimism.
The Shiba Inu ecosystem team celebrated the development, describing it as “incredible.” Meanwhile, Folks Finance emphasized that SHIB’s integration is a major step in bridging meme coins with advanced DeFi utilities.
Unified Liquidity Pools and Yield Incentives
A key advantage of the Chainlink CCIP integration is the elimination of liquidity fragmentation. Instead of dividing SHIB’s liquidity across different blockchains, Folks Finance will provide a unified pool, improving efficiency and accessibility. To attract adoption, the platform has rolled out incentives for SHIB holders, with depositors currently able to earn an APY of 10.93%.
As of now, about $25,000 worth of SHIB has been supplied as liquidity, while $2,000 has been posted as collateral for borrowing. These early figures reflect growing interest from the community in leveraging SHIB for cross-chain DeFi opportunities.
SHIB Adoption Gathers Pace Despite Price Volatility
The Folks Finance listing comes at a time when Shiba Inu faces a price correction in the broader crypto market. Nonetheless, adoption continues to grow. Just this week, Valour, a leading ETF issuer, launched a SEK-denominated Shiba Inu exchange-traded product (ETP) across four European markets, including Sweden, Norway, Denmark, and Finland.
By entering cross-chain lending through Folks Finance, Shiba Inu has reinforced its status as more than just a meme coin. With new utilities, yield opportunities, and expanding institutional exposure, SHIB’s adoption momentum shows no signs of slowing—even during market pullbacks.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
