Floki (FLOKI) is a decentralized community meme token with its own ecosystem of products and services.
FLOKI is the native token of the project. Currently, the use cases for FLOKI include: 1) Payment currency: Users can use $FLOKI to pay for products and services within the Floki ecosystem (i.e., FlokiFi fees, Valhalla games, and crypto debit cards). 2) Collateral: Users can use $FLOKI as collateral for lending on DeFi protocols (i.e., Venus Protocol). 3) Governance: Participate in on-chain voting and create proposals.
Token economics
💰 0.3% buy/sell tax on DEX
🔥 25% of the fees for the burned FlokiFi storage cabinet
1% of the fees for the burned Floki prepaid card
Achieve deflation and enhance token value
The main purpose of the burning mechanism is to reduce the supply in circulation by destroying a certain number of tokens, thereby achieving deflation. When the supply decreases, the price of the token tends to rise under relatively stable or increasing demand. This mechanism helps maintain or enhance the value of the token, providing potential capital appreciation opportunities for investors.
Create price scarcity and enhance investor confidence
The burning mechanism creates scarcity by destroying tokens, and over time, the total amount of tokens will continuously decrease. This scarcity helps enhance investors' expectations and confidence in future price increases, thereby further driving up the token price.
Control inflation and maintain token value stability
The burning mechanism controls the supply of tokens by destroying them, effectively alleviating the impact of inflation. In the face of significant inflationary pressures, the burning mechanism helps maintain the stability of the token's value, providing investors with a relatively safe haven.
This is the third airdrop, the first airdrop of CAT. The second airdrop of MONKY has been completed.
The first airdrop of CAT broke multiple records after going live on the BNB chain:
(1) On-chain activity increased fourfold, pushing it to levels never experienced by the BNB chain;
(2) It helped the BNB chain surpass Solana in DEX trading volume for three consecutive days, setting a new cycle record;
(3) It brought new enthusiasm to the BNB chain and helped boost its dwindling market share;
In my opinion, this is a metric that Binance is very focused on
Binance indeed integrates BNB and supports Binance as two of the three most important ways for listing.
$CAT is the most prominent project that has completed both tasks during this cycle.
CAT achieved an astonishing trading volume of over $400 million on its first day, most of which occurred on the BNB chain.
Simon's Cat also reached a trading volume of about $1.2 billion within 6 days of launching, maintaining an average daily trading volume of over $100 million.
The second airdrop of MONKY has been listed on Binance Alpha, and it will only be a matter of time before it is listed on Binance.
The third airdrop of BAD tokens will take place in the first quarter of next year.
The VALHALLA mainnet release will be postponed to the first quarter of 2025. This is because the first quarter of next year is the altcoin season, which is to allow FLOKI to shine during the altcoin season.
Daily: Bearish volume decreasing, bullish momentum starting, a good buying opportunity.
Short-term upward pressure position: $:0.000232
$:0.000255
If it stabilizes at $:0.003, we will see 1FLOKI = 0.01 USD
The bulls have mostly cleared out, and it has stopped falling. I believe it won't fall further. If it falls again, there will be no counterparty left. The market makers won't give money to the bears.
