Alright this chapter pretty much confirms that Loki is actually not all that bad and that he will not be the main villain of the arc.
Loki most likely still ate the legendary devil fruit but that someone else killed his father and framed him.
I do believe that Pranks is most likely going to the main villain of the arc, maybe he is also the one that killed Loki's father and framed Loki.
Or maybe it was another Giant that did it.