What is Floki Inu?
In September 2021, Tesla and SpaceX CEO Elon Musk shared a picture of his pet dog 'Shiba Inu' on Twitter with the caption Floki is here.
The cryptocurrency meme token Floki Inu, named after Musk's pet, grew 1,000% in just two days and recovered about 1,500% from its creation price in 72 hours.
Over time, more Floki-themed tokens, such as FlokiPup Inu, Baby Floki Inu, Shiba Inu, and Floki Shiba Inu, also experienced a rise in value after Musk's tweet.
Floki and Musk's Bitcoin token Dogecoin are the same dog breed: Shiba Inu.
How did the Floki Inu cryptocurrency originate?
In June 2021, Elon Musk tweeted that "My Shiba Inu will be called Floki", and from then on, the concept of creating Floki Inu was born.
How does Floki Inu work?
Floki Inu was launched on the Ethereum blockchain and is one of the few cryptocurrencies that offer multi-chain protocol capabilities.
The cryptocurrency of this meme token is hosted on both Binance Smart Chain and Ethereum. The total circulating supply of Floki Inu on both ETH and BSC chains is 9.17 trillion, with a total market cap of $59.701 billion.
Reward Mechanism
Floki Inu holders have the opportunity to earn Floki tokens for rewards. Floki holders on both ETH and BSC blockchains receive a minimum of 4% in rewards when holders swap tokens on cryptocurrency exchanges. The reward ratio may change based on future updates.
Floki Inu tokens are hyper-deflationary, which means that an increase in the size of the burned wallets also increases the inflationary rewards for Floki holders. Gradually, the reduction in the circulating supply increases the demand and price of Floki.
Uses
Floki provides use value in the real world. This cryptocurrency token can be used to purchase items in offline stores through its partnership with CryptoCart. Floki holders can also pay for products on the XCUR platform. $FLOKI $DOGE $SHIB
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