FLOKI DAO Approves Liquidity Allocation for FLOKI ETP, Launching in 2025?

Bittime - The Floki DAO recently approved liquidity funding for the upcoming FLOKI ETP, a significant move that marks progress towards its launch in the first quarter of 2025.

With this decision, Floki could potentially become the second meme coin after Dogecoin to have an ETP listed on a European stock exchange. This decision demonstrates Floki's commitment to expanding its ecosystem and providing wider access to investors in traditional financial markets.

The liquidity allocation for the FLOKI ETP will use part of the funds from the community buyback wallet, totaling 16.3 billion tokens. With the scheduled launch, the Floki ETP will give investors exposure to meme coins in the European market, making it an attractive option for those looking to invest in these digital assets.

The success of this proposal, which was approved without any votes against, demonstrates the strong support from members of the Floki community.

Also read: What is Floki Inu (FLOKI): Definition and History

FLOKI ETP: The Bridge between Crypto and Traditional Finance

FLOKI ETP is designed to bridge the gap between traditional finance and digital assets. ETPs, which are similar to ETFs but have a different structure, allow investors to trade assets on a stock exchange.

With the listing on SIX Swiss Exchange, Europe's third largest stock exchange, Floki ETP will provide a transparent and organized way for investors to buy and hold Floki.

A Floki spokesperson stated that the ETP listing will increase the legitimacy of the community-driven meme coin.

“Floki continues to innovate and work hard to drive its ecosystem adoption in line with its mission to become the world's most recognized and widely used cryptocurrency,” FLOKI DAO said in a post on X.

Floki's Significant Achievements

Floki has achieved a series of notable milestones in recent months. In November, the US Commodity Futures Trading Commission (CFTC) highlighted Floki as a utility token case study alongside Ethereum and Avalanche. This shows the growing recognition of Floki among regulators.

In addition, Floki also launched a debit card that allows users to pay with crypto at places that accept Visa or Mastercard. The launch of a crypto education platform, 'Floki University', is also part of Floki's efforts to build a stronger ecosystem around its flagship meme coin.

Also read: Memecoin Floki Launches Debit Card for 31 Countries in Europe

The Future of FLOKI ETP and the Floki Ecosystem

With the approved liquidity allocation, FLOKI ETP is expected to attract the attention of more institutional and retail investors. Floki DAO has also invested $200,000 USDT in CAT, a meme coin inspired by “Simon's Cat”, demonstrating Floki's commitment to innovate and adapt to market trends.

Overall, the broader meme coin market stands to reach a collective market capitalization of $112 billion by 2024, with FLOKI alone up approximately 375% over the year.

With the upcoming launch of the FLOKI ETP, Floki seeks to capitalize on this growth and bridge the gap between meme coins and institutional adoption. This move is expected to strengthen Floki's position in the market and increase the adoption of meme coins worldwide.

FAQ

What is FLOKI ETP?

FLOKI ETP is an exchange-traded product (ETP) designed to give investors exposure to the Floki meme coin. The ETP will be listed on the SIX Swiss Exchange and is expected to launch in the first quarter of 2025.

What did the FLOKI DAO approve?

The FLOKI DAO has approved the liquidity allocation for the FLOKI ETP by using part of the funds from the community buyback wallet, which includes a total of 16.3 billion tokens. This decision demonstrates the strong support from community members for the ETP launch.

What is the objective of the FLOKI ETP launch?

The purpose of the FLOKI ETP launch is to bridge the gap between traditional finance and digital assets, provide a transparent and orderly way for investors to buy and hold Floki, and increase the legitimacy of meme coins in the financial market.

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References

beincrypto.com, FLOKI DAO Approves Liquidity Funding for Its ETP in the European Market, accessed on January 2, 2025.

Author: AWW