- Floki launches the TokenFi platform.
- The price of the FLOKI token jumps on the news.
- The TokenFi roadmap will incorporate “big-name” partnerships.
The memecoin landscape is awash with superficial projects lacking real utility. However, Floki has steadily built an empire beyond memes, including its Valhalla metaverse, FlokiFi DeFi, and NFT initiatives.
To further expand its ecosystem and capitalize on the burgeoning tokenization sector, Floki has announced its TokenFi real-world asset platform, triggering a massive 29% jump in the FLOKI price and cheers from the community.
Floki Jumps 29% on TokenFi Announcement
News of the TokenFi platform launch sent FLOKI soaring 29% over the past 24 hours to an intraday high of $0.004267. The move recorded a 24-week high in the process. Profit-taking has since dipped the price to $0.00004008 at the time of writing, but FLOKI has been trending higher since October 20, growing 125% in value since then.
The Floki community welcomed the TokenFi announcement, including BNB Ambassador “Jesus,” who expressed excitement over the platform’s launch. Other community members voiced questions on several points, such as how to acquire the TokenFi token and which exchanges list it.
Details of the TokenFi token were publicized on October 18 as part of an initiative to develop a sustainable staking system. At that time, Floki devs proposed launching a staking program requiring users to stake FLOKI tokens but receive staking rewards in a separate utility token.
The community voted on the proposal during a brief two-day voting window that ended on October 20. The results were overwhelmingly positive, with 98.5% of voters agreeing to the proposal. However, the relatively short time frame from publicizing the initiative to launching the token and platform has led to many questions among community members.
The TokenFi Platform
Answering the community’s question, Floki stated that the TokenFi platform intends to tap into the expanding tokenization industry by simplifying real-world asset tokenization for the masses.
The accompanying TokenFi token will launch with a total supply of 10 billion, split evenly between the BSC and ETH blockchains. Of the total supply, 56% of the tokens will be distributed as rewards to FLOKI stakers over the next four years. However, investors who wish to buy the token can do so from the Uniswap and PancakeSwap exchanges.
Floki added that several TokenFi products are being developed with plans to roll them out in Q4 2023. Details on what these products are were not revealed at this time. However, the team teased big-name partnerships as part of these plans.
On the Flipside
- Tokenization is part of a broader trend toward fractionalized ownership models in cryptocurrency.
- Floki faces fierce competition from tokenized platforms and protocols like Polymath and Securitize.
Why This Matters
Floki has unveiled the TokenFi platform, signaling its growing ambition to diversify from being more than “just a memecoin.” Real-world tokenization is yet to make a significant impact, but the TokenFi launch positions Floki favorably should tokenization take off as predicted.
Learn more about Floki’s sustainable approach to token staking here:
Floki Plans Sustainable Crypto Staking with Dual-Token System
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