History
The past history of Loki of Earth-788 mirrors that of his Earth-616 counterpart. In this reality, he would also be trapped in the form of a tree by Odin for past trickery. He would break the spell by tricking Heimdall to shed a tear. Wishing to get revenge against his step-brother Thor, Loki would go to Earth and be shocked to find that Jane Foster wielded Mjolnir as Thordis. In their first clash, Loki would attempt to trick Thordis into turning over the hammer to a construct of Thor. However, Thordis would see through this ruse and easily defeat Loki, sending him back to Asgard.
There Loki would plot against Thordis and Asgard by telling Odin that Thor had returned on Earth. Sure enough, Odin would call Thor back to Asgard but would be furious to find Thordis answering the call. Ultimately, Odin would banish Thordis back to Earth, leaving Loki with little opposition to his plans. When Odin would go into the Odinsleep, Loki as sole heir of Asgard would take over. When he would witness Sif travel to Earth and use her powers to heal Donald Blake's lame leg and start a relationship with him, Loki would attack hoping to slay Donald Blake. He would be driven away in battle thanks to Thorids, however Sif would be seriously injured in the battle and need immediate surgery.
Loki would continue to rule over Asgard, and would opt to let other fight when Mangog would attack, seeking to bring about Ragnarok. Thordis, Sif and Donald Blake would hold off Mangog until Odin would awaken and defeat the creature. Seeking to slip away in the aftermath of the battle, Loki would be stopped by Donald Blake.
Loki's subsequent fate remains unrevealed, however it's entirely likely that he was punished by Odin for his transgressions against Donald Blake, and his inactivity during Mangog's invasion of Asgard.[1]