Floki DAO voted in favor of a proposal to provide liquidity to create a Floki ETP!
The Floki DAO voted overwhelmingly in favor of the proposal to allocate tokens to provide liquidity to create the Floki ETP.
This proposal, which was the first time ever that a Floki DAO proposal passed without a single dissenting vote, would see a portion of the 16,310,285,772.6 FLOKI tokens currently in the “community repo wallet” used to provide liquidity for the Floki ETP while the rest is burned.
Facilitated by a respected asset manager and ETP issuer, the Floki ETP is expected to go live in Q1 2025 and is currently on track to be the second memecoin ETP to launch on a regulated exchange after the Dogecoin ETP. This is a significant milestone for Floki and memecoins in general!
An ETP is an investment vehicle that can be traded on exchanges. It is quite similar to an ETF but with a slightly different structure and purpose. An ETP acts as a comprehensive solution to fully integrate into the TradFi ecosystem and build a bridge for TradFi investors to easily access, buy and hold Floki in a safe and regulated manner. One of the key similarities between an ETP and an ETF is that both make assets readily available to institutional and retail investors in a transparent and regulated manner.
The Floki ETP news comes on the heels of recent revelations that the Commodity Futures Trading Commission (CFTC) highlighted FLOKI as a case study for a utility token at a recent Global Markets Advisory Committee meeting.
Floki continues to innovate and work hard towards driving adoption of its ecosystem in line with its mission to become the most popular and widely used cryptocurrency in the world!