Floki DAO to Launch Floki ETP in Europe by Early 2025
Highlights:
- Floki DAO plans to launch FLOKI ETP on the SIX Swiss Exchange next year.
- Floki DAO votes on allocating 16 billion FLOKI tokens, worth $2.8 million, for liquidity.
- With a $1.7 billion market cap, FLOKI has experienced a 400% growth this year.
Floki DAO, the organization that manages the memecoin Floki, announced on Dec. 25 that it is partnering with an asset manager and ETP issuer to launch an exchange-traded product (ETP) for its FLOKI token. The product will be listed on the SIX Swiss Exchange, Switzerland’s largest stock exchange, in early Q1 next year. If it receives approval, FLOKI will become the second memecoin in Europe to offer an institutional-grade investment option after Dogecoin (DOGE).
NEW DAO PROPOSAL: APPROVE LIQUIDITY PROVISIONING FOR A FLOKI ETP
We've been actively working with a respected Asset Manager and an ETP Issuer to launch a Floki ETP (Exchange-Traded Product) for quite a while now. After months of due diligence and painstaking effort, we've been… pic.twitter.com/90ckRJsUN2
— FLOKI (@RealFlokiInu) December 25, 2024
Floki DAO Votes on Allocating Liquidity for Upcoming ETP Launch
The Floki DAO community is voting on allocating early liquidity for the ETP. The plan involves using 16 billion FLOKI tokens from a treasury wallet. At current market rates, these tokens are worth over $2.8 million. The vote, lasting 48 hours, will conclude at 11:00 UTC on December 27. As of now, the proposal has received strong support. A total of 204.9 billion votes have been cast in favor, with none against or abstaining. This unanimous approval highlights strong community support for the Floki ETP initiative.
Floki stated:
“We’ve been actively working with a respected Asset Manager and an ETP Issuer to launch a Floki ETP (Exchange-Traded Product) for quite a while now. After months of due diligence and painstaking effort, we’ve been told that the Floki ETP is on track to go live in early Q1, 2025.”
The ETP will allow investors to access FLOKI through official and regulated channels. This will link traditional finance with digital assets. Details about the product’s structure and pricing are not available due to confidentiality rules. However, Floki assures that the liquidity tokens will stay under their control. These tokens can be taken back once enough third-party liquidity is in place.
This announcement follows Floki’s launch of a new debit card in partnership with Mastercard. The card, available in both physical and virtual formats, is offered in 31 European countries. It supports several cryptocurrencies, including FLOKI, BTC, and USDT.
FLOKI DEBIT CARD GOES LIVE WITH GAME-CHANGING 0% FEES
– The @RealFlokiInu Debit Card is officially live, allowing users to spend crypto at millions of merchants worldwide that accept VISA or Mastercard.
– Key features:
– 0% fees for transactions & currency exchange… pic.twitter.com/7TOnuKrXGb— BSCN (@BSCNews) December 9, 2024
Floki’s Market Performance and Investment in CAT Token
Floki is currently the 7th largest memecoin by total market value. At the time of publication, its market cap stands at $1.7 billion, according to Coingecko data. FLOKI is trading at $0.00017. Despite recent declines, the memecoin has experienced a 400% gain since the start of the year.
Binance listed the token earlier this month. In general, the broader meme coin market has seen significant growth in 2024, reaching a total market cap of $112 billion.
Floki Launches University to Educate Crypto Users
Floki has launched the University of Floki, an educational platform to make cryptocurrency and blockchain easier to understand. It aims to help both beginners and experienced people learn more about crypto. Cryptocurrencies and blockchain are becoming more popular, but many people find them confusing. Floki’s new platform offers easy, free courses on important topics like Smart Contracts, NFTs, Security, Decentralized Finance (DeFi), Blockchain, and Finance.
University of Floki is live!
Floki's crypto education platform aims to bridge the knowledge gap for the next wave of crypto users, making blockchain and web3 technology accessible to everyone.
Whether you're completely new to crypto or looking to deepen your understanding,… pic.twitter.com/zkglEE1Jsp
— FLOKI (@RealFlokiInu) December 24, 2024
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Syed Ali Haider
Syed Ali Haider is a contributing crypto writer for Crypto2Community. He is a crypto and blockchain journalist with over six years of experience. Syed Ali is a Blockchain enthusiast and writer passionate about enhancing the acceptance, adoption, and integration of Blockchain technology worldwide. He has also advocated for digital freedom and cybersecurity for many years. Haider has been featured in a number of high-profile crypto and finance outlets, including Coincult and more.
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