FLOKI DAO votes unanimously to provide liquidity for the launch of Floki ETP via Chainwire
Miami, Florida, December 31, 2024, Chainwire
Floki DAO voted decisively to grant liquidity to facilitate the creation of Floki Exchange-Traded Product (ETP).
The proposal passed on December 27 without a single vote against – a first for Floki DAO – highlighting the overwhelming support of the community for expanding Floki’s presence in traditional financial markets.
The vote will divert a portion of the 16,310,285,772.6 FLOKI tokens from the community return wallet to provide liquidity for the ETP, while the remaining tokens will be permanently burned.
Floki ETP is scheduled to be listed on the SIX Swiss Exchange in the first quarter of 2025.
“Since Floki DAO overwhelmingly voted in favor of the proposal to provide liquidity for Floki ETP, Floki is on track to become the only memecoin other than ETP on a regulated exchange as early as January 2025. Floki ETP will go live on SIX Swiss Exchange , which is the largest exchange in Switzerland and the third largest exchange in Europe, which is almost an unprecedented move for the legitimacy of memecoin,” said B a Core Advisor at Floki.
The creation of Floki ETP is led by a leading asset manager in collaboration with the ETP issuer, strengthening Floki’s growing integration into the traditional financial (TradFi) ecosystem. By establishing the ETP, Floki aims to bridge the gap between crypto and traditional markets, providing institutional and retail investors with a safe, regulated path to access, buy and hold FLOKI through well-known trading platforms.
An exchange-traded product (ETP) functions similarly to an exchange-traded fund (ETF), but with structural differences. Both products allow investors to gain exposure to the underlying asset without directly holding it.
This announcement follows the recent recognition of Floki by the US Commodity Futures Trading Commission (CFTC) as a utility token during the November 21st Global Markets Advisory Committee (GMAC) meeting. Floki has been highlighted alongside (ETH) and (AVAX) as part of the ongoing regulatory debate on digital assets.
A key factor in the CFTC’s recognition was Valhalla, Floki’s NFT-based metaversal game, which is scheduled to launch in early 2025. Valhalla’s use of FLOKI as its in-game currency has played a key role in boosting the token’s real-world utility and further establishing Floki’s legitimacy within the broader landscape of digital assets.
Floki continues to innovate and work hard to drive adoption of its ecosystem in line with its mission to be the most known and used cryptocurrency in the world!
About Floki
Floki is the people’s cryptocurrency and utility token of the Floki ecosystem. Focused on utility, community, philanthropy and strategic marketing, Floki is working to become the most recognized and used cryptocurrency in the world. With over 490,000 owners worldwide, Floki has already established a strong brand presence. Users can learn more at floki.com.
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ContactPublic Relations OfficerPedro VidalFlokimarketing@floki.com
