Miami, Florida, December 31, 2024, Chainwire
Floki DAO voted decisively in favor of allocating liquidity to facilitate the creation of Floki's exchange-traded product (ETP).
The proposal passed on December 27 without a single dissenting vote – a first for the Floki DAO – highlighting the community's overwhelming support for expanding Floki's presence in traditional financial markets.
The vote will see a portion of 16,310,285,772.6 FLOKI tokens redirected from the community buyback wallet to provide liquidity for the ETP, while the remaining tokens will be burned permanently.
The Floki ETP is scheduled to launch on the Swiss SIX Exchange in the first quarter of 2025.
“With the Floki DAO voting overwhelmingly in favor of the proposal to provide liquidity for the Floki ETP, Floki is on track to become the only memecoin alongside the ETP on a regulated exchange as early as January 2025. The Floki ETP will go live on the Swiss SIX Exchange, the largest exchange in Switzerland and the third largest in Europe, in an almost unprecedented move for the legitimacy of memecoin said the primary advisor at Floki.
The Floki ETP is being created by a leading asset manager in collaboration with the ETP issuer, enhancing Floki's increasing integration into the traditional finance (TradFi) ecosystem. By creating the ETP, Floki aims to bridge the gap between cryptocurrency and traditional markets, providing institutional and retail investors with a safe and regulated way to access, buy and hold FLOKI through familiar trading platforms.
An exchange-traded product (ETP) works similarly to an exchange-traded fund (ETF) but with structural differences. Both products allow investors to gain exposure to the underlying assets without directly holding them.
This announcement follows the recent recognition of Floki by the US Commodity Futures Trading Commission (CFTC) as a token during its Global Markets Advisory Committee (GMAC) meeting on November 21. Floki has been highlighted alongside (ETH) and (AVAX) as part of ongoing regulatory discussions surrounding digital assets.
The key factor in the CFTC's recognition was Valhalla, Floki's NFT-based Metaverse game scheduled to launch in early 2025. Valhalla's use of FLOKI as an in-game currency has played a pivotal role in promoting the token's real-world utility And further solidify Floki's legitimacy. Within the broader digital assets landscape.
Floki continues to innovate and work hard towards driving adoption of its ecosystem in line with its mission to be the most popular and widely used cryptocurrency in the world!
About Floki
Floki is the popular cryptocurrency and utility token of the Floki ecosystem. By focusing on benefit, community, philanthropy, and strategic marketing, Floki is working to become the most popular and widely used cryptocurrency in the world. With over 490,000 holders globally, Floki has already established a strong brand presence. Users can learn more at floki.com.
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communicationCommunity relations officerPedro VidalHerdsMarketing@floki.com
