Binance Boosts Floki Staking As TokenFi Lockup Crosses $73M

As crypto aficionados are flocking to TokenFi, the canine coin Floki embarks on a 15% daily bull run.

Floki on a boost next to TokenFi tokens.
Created by Kornelija Poderskytė from DailyCoin
  • Floki’s decentralized finance platform TokenFi now comprises 2T locked $FLOKI.
  • Crypto giant Binance powers up FLOKI staking with three plans up to 35.9% APY.
  • Binance Smart Chain (BSC) native memecoin FLOKI soars 16.2% amid the news.

The Viking dog-themed meme currency Floki (FLOKI) is making waves in the decentralized finance world with 2 trillion $FLOKI tokens, valued at $72M, staked on the freshly released staking platform TokenFi. Currently, these staking activities encompass 20% of the circulation, setting a new all-time high.

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The entrance into tokenized real-world assets for Floki comes with a dual token system. To illustrate, crypto investors who commit to the new staking platform can earn up to 101.8% APY, while staking rewards are paid out in the sister crypto TokenFi (TOKEN). Priced at $0.0323, this newcomer token enjoyed 81.3% gains in the last two weeks.

Binance Boosts Floki’s Yield Options

The expanding yield options for the Viking dog-embossed Floki (FLOKI) enrich the meme coin’s utility as a long-term investment. To illustrate, the leading crypto exchange Binance introduced a $FLOKI staking program on the Binance Smart Chain (BSC) based in three different subscriptions:

  • 30 days locked subscription with 27.9% APY
  • 60 days locked subscription with 29.9% APY
  • 120 days locked subscription with 35.9% APY

However, the first two options are labeled as ‘sold out’, while the remaining 35.9% annual percentage yield (APY) offers a slightly more profitable staking plan than TokenFi’s 31.81% for three months. Regardless, the three-month plan offered by the official platform is more than what other centralized exchanges (CEXs) offer at the present time. For example, LBank also launched $FLOKI staking at 15% APY in the same timeframe.

What Is FLOKI Up To Next?

With over 460,000 crypto holders, Floki is staying ahead of the game with the entrance to the Real-World Assets (RWA) market. Besides the global tokenization venture, Floki has the crypto locking program FlokiFi, and is working on a metaverse game called Valhalla. The upgrades and developments sparked a 380% yearly bull run for the Viking dog-embossed cryptocurrency.

Currently, the canine token Floki (FLOKI) skyrocketed by 16.2% in the last 24 hours, adding to the 95% monthly run. With a global market capitalization of $355,544,430, the Viking dog coin is yet to restore its market dominance, as the #131 rank puts $FLOKI into the lightweight category, compared to main rivals Shiba Inu (SHIB) & Dogecoin (DOGE), hemming in $4.9bn and $10bn in global market capitalization, respectively.

On The Flipside

  • One key difference between Binance’s Floki staking plans and TokenFi staking ecosystem is the cryptocurrency rewards.
  • Only TokenFi employs the dual token system, while Binance offers staking rewards in $FLOKI.

Why This Matters

The ability to trade tokenized real-world assets via cryptocurrency is set to unlock an estimated $16 trillion market in the next five years.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.