Big News for Floki: Community Votes to Bring Liquidity to the Floki Exchange-Traded Product (ETP)
As we count down to the new year, the Floki community has given us a reason to celebrate. On December 27th, the Flocks DAO voted unanimously in favor of allocating liquidity to support the creation of a Floki Exchange-Traded Product (ETP).
This is a huge milestone for Floki, and we’re excited to share the details with you. What does this mean for Floki?
The proposal passed without a single opposing vote, which is a first for the Floki DAO. This overwhelming support from the community shows that we’re all on the same page when it comes to expanding Floki’s presence in traditional financial markets.
Here’s what’s happening next: a portion of 16,310,285,772.6 FLOKI tokens from the community buyback wallet will be redirected to provide liquidity for the ETP. The remaining tokens will be permanently burned, which is a big step towards reducing the overall supply of FLOKI tokens. The Floki ETP: A Game-Changer for Memecoins
The Floki ETP is set to go live on the SIX Swiss Exchange in the first quarter of 2025.
This is a significant move for Floki, as it will become one of the only memecoins (alongside Dogecoin) to have an ETP on a regulated stock exchange. The SIX Swiss Exchange is the largest stock exchange in Switzerland and the third largest in Europe, so this is a big deal for us. As B, a Core Advisor at Floki, put it: “This is an almost unprecedented move for memecoin legitimacy.
We’re on track to bridge the gap between crypto and traditional markets, providing institutional and retail investors with a secure, regulated way to access, buy, and hold FLOKI through familiar trading platforms.”
What is an ETP, and how does it work?
An exchange-traded product (ETP) is similar to an exchange-traded fund (ETF), but with some key differences.
Both products allow investors to gain exposure to underlying assets without directly holding them. In this case, the Floki ETP will give investors a way to access FLOKI tokens through a regulated and secure platform. A Big Year for Floki
This announcement comes on the heels of some other exciting news for Floki.
Recently, the U.S. Commodity Futures Trading Commission (CFTC) recognized Floki as a utility token during the Global Markets Advisory Committee (GMAC) meeting on November 21. We were highlighted alongside Ethereum (ETH) and Avalanche (AVAX) as part of ongoing regulatory discussions surrounding digital assets.
Our NFT-based metaverse game, Valhalla, played a big role in this recognition. The game’s use of FLOKI as its in-game currency helped reinforce the token’s real-world utility and further established Floki’s legitimacy in the digital asset landscape. What’s Next for Floki?
We’re committed to innovating and pushing adoption of our ecosystem.
Our mission is to become the world’s most known and most used cryptocurrency, and we’re working hard to make that a reality. With over 490,000 holders globally, we’ve already established a strong brand presence. We’re excited to see what the future holds for Floki, and we’re grateful for the support of our amazing community.
Stay Connected with Floki
Want to learn more about Floki and stay up-to-date on the latest news? Check out our website at floki.com, or follow us on social media:
YouTube | Telegram | Instagram | TikTok | Discord | Facebook | Reddit | Twitch | Valhalla
Get in Touch
If you have any questions or want to get in touch with our community team, email us at flocksmarketing@floki.com.
We’d love to hear from you!
Reported by Livebitcoinnews.com
The post Floki ETP Gets Green Light from DAO Vote appeared first on CoinBuzzFeed.
