Shiba Inu’s ecosystem team has announced special prizes to celebrate Shiv’s debut in the first ever cross-chain lending market.
The announcement comes hours after Chainlink’s flagship project Folks Finance listed Shiba Inu on the cross-chain lending market. The initiative is intended to allow users to rent and borrow Shivs to 12 blockchains, including polygons, avalanches, arbitrum, and base.
New Shibu Present
Shortly after the announcement, Shiba Inu unveiled a special prize to celebrate the historic milestone of its first-time listing on the cross-chain lending market.
Users must also follow the official X handle of Folks Finance and Shiba Inu handles. Finally, participants are required to tag three friends in the comments section of the present announcement.
The prizes that started yesterday at 7:49pm UTC will run for 48 hours. This means the giveaway event will end on September 5th at 7:49pm UTC.
Xai Grok chooses the winner
Interestingly, Shiba Inu uses Xai’s chatbot Grok to determine the winner of the prize, ensuring transparency and fairness.
According to the announcement, the AI model randomly selects one lucky winner after 48 hours has passed. In the meantime, the present has attracted strong participation from the Wave 1RO community. Despite being announced just a few hours ago, the present has 1,300 comments, 1,500 reposts and 2,100 likes.
This promotion is part of an effort to reward loyal Shiba Inu community members and raises awareness of Shib’s Folks Finance’s cross-chain integration into the lending market.
Shiba Inu’s move to cross-chain lending space extends its usefulness beyond meme culture and places tokens within blockchain-based financial services.
In addition to Shiba Inu, Folks Finance has also announced special incentives for users who deposit Shib tokens on the lending market. Depositors currently earn an annual yield (APY) of 9.08%.
With the amount of deposited SHIB at $32,000, the incentive has already been rewarded, representing the 28% spike of the $25,000 reported yesterday.
