Dog-themed memecoin Floki (FLOKI) unveiled plans to launch a Floki exchange-traded product (ETP) following comprehensive due diligence. The investment product is scheduled for release in Q1 2025, pending approval from the Floki DAO to allocate liquidity for the initiative. Voting on the proposal is currently underway and is set to conclude on December 27th.
As part of prior community decisions, Floki conducted several buybacks approximately three years ago. The project now holds 16,310,285,772.6 FLOKI tokens in its designated wallet and proposes using a portion of these tokens to provide liquidity for the ETP, while the remaining tokens would be burned on the ETP’s launch day.
Although specific details about the ETP remain under wraps due to non-disclosure agreements, Floki assures that any approved actions will align with the DAO’s mandate. A detailed announcement is expected closer to the ETP’s launch when disclosures are permissible. The proposal also emphasizes that any tokens allocated for liquidity purposes will remain under Floki’s ownership and can be retrieved in the future if sufficient third-party liquidity is established within the ETP.
Floki ETP Nears Launch On SIX Swiss Exchange, Aims To Become Second Memecoin With Active Trading Product
An ETP is a financial instrument traded on stock exchanges, similar to an Exchange-Traded Fund (ETF), but with distinctions in structure and purpose. ETPs are designed to seamlessly integrate with the traditional financial (TradFi) ecosystem, providing a bridge for TradFi investors to securely access, buy, and hold assets like Floki in a regulated and transparent manner. Both ETPs and ETFs share the goal of making assets accessible to institutional and retail investors through clear regulatory frameworks.
The Floki ETP is nearing its final development stages and is set to become tradable on the SIX Swiss Exchange, Switzerland’s largest stock exchange and the third-largest in Europe. Once launched, the Floki ETP will enable institutional investors, regulated entities, and retail investors to gain exposure to FLOKI under a regulated framework.
Currently, Dogecoin is the only memecoin with an active ETP. Floki aims to join it as the second memecoin to achieve this milestone. However, a distinction lies in the exchanges hosting these products. While Dogecoin’s ETP is live on Sweden’s Spotlight Stock Market, the Floki ETP will debut on the SIX Swiss Exchange, a larger and more prominent exchange in Switzerland—a country renowned for its pristine qualities and premium reputation.
The post Floki Seeks Approval For Liquidity Provisioning Of FLOCKI Exchange-Traded Product appeared first on Metaverse Post.
