📣 Floki DAO Greenlights Token Allocation for ETP Launch
posted 2 Jan 2025
Floki, a dog-themed meme coin, is preparing to launch its Exchange-Traded Product (ETP) in early Q1 2025.
As preparations for the launch progress, the Floki DAO (Decentralized Autonomous Organization) has voted unanimously to allocate a portion of its tokens for the fund.
The proposal received strong support, with 332.7 billion votes in favor of using tokens from the project's wallet, which holds over 16 billion FLOKI tokens.
According to the proposal, part of this allocation will go toward ETP liquidity, while the remainder will be burned on the launch day.
The proposal states that Floki has been working on the ETP launch with a respected asset manager for quite some time.
An ETP (Exchange-Traded Product) is a regulated investment product traded on stock exchanges, making it more accessible to both institutional and retail investors.The Floki ETP is now in its advanced stages and will soon be tradable on the SIX Swiss Exchange, the largest stock exchange in Switzerland.
This is a significant step for Floki, as it could drive adoption. While specifics about the fund are under wraps due to NDAs (non-disclosure agreements), Floki has promised more details in future announcements.
FLOKI is currently one of the top 70 cryptocurrencies, with a market cap of over $1.7 billion. The token is trading at $0.0001839, with a 24-hour trading volume exceeding $216 million.
The proposal received strong support, with 332.7 billion votes in favor of using tokens from the project's wallet, which holds over 16 billion FLOKI tokens.
According to the proposal, part of this allocation will go toward ETP liquidity, while the remainder will be burned on the launch day.
Floki DAO’s proposal to allocate resources for the Floki ETP. Source: Floki DAO
With this initiative, Floki will become the second meme coin to debut an ETP, following in the footsteps of Dogecoin.
The proposal states that Floki has been working on the ETP launch with a respected asset manager for quite some time.
An ETP (Exchange-Traded Product) is a regulated investment product traded on stock exchanges, making it more accessible to both institutional and retail investors.The Floki ETP is now in its advanced stages and will soon be tradable on the SIX Swiss Exchange, the largest stock exchange in Switzerland.
This is a significant step for Floki, as it could drive adoption. While specifics about the fund are under wraps due to NDAs (non-disclosure agreements), Floki has promised more details in future announcements.
FLOKI is currently one of the top 70 cryptocurrencies, with a market cap of over $1.7 billion. The token is trading at $0.0001839, with a 24-hour trading volume exceeding $216 million.
