Miami, Florida, December 31st, 2024, Chainwire
TheFlokiDAO has voted overwhelmingly in favor of allocating liquidity to facilitate the creation of a Floki Exchange-Traded Product (ETP).
On December 27, the proposal passed without any opposing votes, which is a first for the Floki DAO. This highlights the strong support from the community in expanding Floki’s presence in traditional financial markets.
As part of the vote, a portion of 16,310,285,772.6 FLOKI tokens from the community buyback wallet will be redirected to provide liquidity for the ETP, while the remaining tokens will be permanently burned.
The Floki ETP is expected to launch on the SIX Swiss Exchange in the first quarter of 2025.
“With the overwhelming support from the Floki DAO to provide liquidity for the Floki ETP, Floki is on track to become the only memecoin, besides Dogecoin, with an ETP on a regulated stock exchange as early as January 2025. The Floki ETP will go live on the SIX Swiss Exchange, which is the largest stock exchange in Switzerland and the third largest in Europe. This is an almost unprecedented move for memecoin legitimacy,” said B, a Core Advisor at Floki.
The creation of the Floki ETP is a collaboration between a leading asset manager and an ETP Issuer, further integrating Floki into the traditional finance (TradFi) ecosystem. By establishing the ETP, Floki aims to bridge the gap between crypto and traditional markets, providing institutional and retail investors with a secure, regulated avenue to access, buy, and hold FLOKI through familiar trading platforms.
An exchange-traded product (ETP) functions similarly to an exchange-traded fund (ETF) but with structural differences. Both products allow investors to gain exposure to underlying assets without directly holding them.
This announcement follows the recent recognition of Floki as a utility token by the U.S. Commodity Futures Trading Commission (CFTC) during the Global Markets Advisory Committee (GMAC) meeting on November 21. Floki was mentioned alongside Ethereum (ETH) and Avalanche (AVAX) in ongoing regulatory discussions on digital assets.
Valhalla, Floki’s NFT-based metaverse game scheduled for launch in early 2025, played a significant role in the CFTC’s acknowledgment. The use of FLOKI as the in-game currency in Valhalla reinforced the token’s real-world utility and further established Floki’s legitimacy within the broader digital asset landscape.
Floki continues to innovate and work towards the adoption of its ecosystem, in line with its mission to become the world’s most recognized and used cryptocurrency!
About Floki
Floki is the people’s cryptocurrency and the utility token of the Floki Ecosystem. With a focus on utility, community, philanthropy, and strategic marketing, Floki is striving to become the most recognized and used cryptocurrency worldwide. With over 490,000 holders globally, Floki has already built a strong brand presence. Users can learn more at floki.com.
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Community Relations Officer
Pedro Vidal
Floki
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