Shiba Inu (SHIB) has become the first meme coin listed on Fold on Folks Finance, enabling cross-chain lending and borrowing while being powered by Chainlink’s interoperability protocol.
Key Takeaways:
- SHIB is now listed for lending and borrowing on Folks Finance, becoming the first memecoin with cross-chain lending markets.
- Chainlink’s CCIP powers seamless use of SHIB across multiple blockchains through one unified liquidity pool.
- Depositors currently enjoy ~10.93% APY incentives; only ~$25,000 worth of SHIB has been supplied, with ~$2,000 used as collateral.
Shiba Inu has pioneered a new path in the decentralized finance (DeFi) space as it becomes the first meme coin to be listed on Folks Finance with lending and borrowing capabilities spanning in multiple blockchains. Folks Finance announced in an X (formerly Twitter) post that SHIB holders can now deposit the token to earn yield or use it as collateral across supported networks, enabled by Chainlink’s Cross-Chain Interoperability Protocol (CCIP). Shib official X account then confirmed the token listing right after the exchange’s official announcement.
Chainlink’s CCIP Powers Multichain Access
This integration implements Chainlink’s Cross-Chain Interoperability Protocol (CCIP), serving as its backbone for its cross-chain functionality. Through this approach, it overcomes longstanding liquidity fragmentation by pooling supply into a single, cross-chain accessible vault. The result is one unified liquidity pool with deep access across networks like Ethereum, Polygon, Avalanche, Arbitrum, Optimism, Base, and others.
Yield Incentives Attract Early Deposits
Folks Finance unveiled attractive incentives, where depositors can currently earn up to 10.93% APY for locking their SHIB, according to a report from The Crypto Basic. So far, approximately $25,000 worth of SHIB has been supplied into the pool, while around $2,000 has been used as collateral for borrowing activities.
This integration is described by Folks Finance as a pivotal moment, emphasizing “the first memecoin with cross-chain lending markets,” which highlights that this new feature is more than just an update, but also a move that fundamentally changes what memecoins are capable of.
Market Response: SHIB Gains on Listing News
As of this writing (10:15 UTC), Shiba Inu token (SHIB) trades at roughly $0.00001244, showing a modest gain of 1.2% over the past 24 hours, according to TradingView’s real-time market data. The intraday high reached $0.00001247, with support near $0.00001213. RSI hovered around 48.5, suggesting neutral market momentum. Following the Folks Finance listing, SHIB briefly spiked by 2.76% before stabilizing. Despite the short-term bump, SHIB remains down 41% year-to-date.
Shiba Inu Expands DeFi Utility Beyond Memecoin Status
The integration signals a significant shift for Shiba Inu, allowing the token to have practical use in the DeFi space. By leveraging Chainlink’s CCIP, SHIB can now serve as a yield-bearing and collateral asset across multiple blockchains.
Analysts note that this expansion moves the token beyond its reputation as a meme coin, providing investors with additional utility while reducing liquidity fragmentation. This move also complements Shiba Inu’s existing ecosystem, which includes Shibarium, BONE, and LEASH.
Outlook: Utility Push Could Shape SHIB’s Future
The listing of Shiba Inu on Folks Finance and its entry to cross-chain lending, while being powered by Chainlink’s CCIP, is a huge milestone for the token. It delivers real utility, encourages deeper liquidity, and brings SHIB one step closer to DeFi relevance. The next milestones will be whether borrowing demand grows and if additional incentives or expansion to other lending protocols emerge.
Summary
Shiba Inu became the first memecoin to unlock cross-chain lending via its listing on Folks Finance, powered by Chainlink’s CCIP. This integration enables SHIB deposits to earn yield (~10.93% APY) and be used as collateral across multiple blockchains. Early adoption has been modest (~$25K supplied), but the move signals a shift from meme coin status to DeFi utility. Market reaction was mild, with SHIB trading ~$0.00001244 (+1.2% intraday), though it remains down 41% year-to-date. The long-term impact will depend on borrowing demand, additional incentives, and further DeFi integrations.
