Connect with us
Active Currencies 14909
Market Cap $2,551,483,662,756.50
Bitcoin Share 51.62%
24h Market Cap Change $-0.06

Floki launches new project with an eye on the growing tokenization industry

2min Read

Floki outlined the tokenomics and strategy behind its new crypto and tokenization platform TokenFi, which was set to open for trading.

Share this article

  • TokenFi will have a total of 10 billion in native tokens, labeled as TOKEN.
  • Floki announced safeguards against Sniper bots for the first hour of the launch.

Meme coin project Floki [FLOKI] announced the launch of a crypto and tokenization platform TokenFi in a bid to capitalize on the rapidly growing tokenization industry. In a long post on X, Floki outlined the tokenomics and strategy behind what it claimed would become the “foremost” tokenization platform in the world.


How much are 1,10,100 FLOKIs worth today?


Say hello to TokenFi!

Notably, TokenFi will have a total of 10 billion native tokens, labeled as TOKEN. These tokens will be equally split and offered across BNB Chain [BNB] and Ethereum [ETH].

Floki informed that nearly 10% of the initial supply, or 1oo million, would be set aside for trading on popular decentralized exchanges (DEXes), PancakeSwap [CAKE] and Uniswap [UNI]. The trading would commence on 27 October at 3PM UTC.

To eliminate the impact of sniper bots, Floki announced safeguards for the first hour of the launch. Most notable among these was the 1% cap, effectively preventing users from buying more than 100 million tokens. To provide an extra layer of security, a flat 20% buy/sell tax would be imposed in the first hour.

Note that the TokenFi would remove the wallet cap after the first hour and lower the transaction tax to 5%.

Floki’s vision centered around the burgeoning tokenization sector, which was expected to balloon to a $16 trillion industry by 2030. As is well known, tokenization involves representing real-world assets, such as real estate, commodities, bonds, as tokens on a blockchain.

Moreover, the fusion of real world and the virtual world opens up new investment possibilities, catering to a diverse set of users.


Realistic or not, here’s FLOKI’s market cap in BTC terms


FLOKI erupts in jubilation

TokenFi’s launch reaffirmed Floki’s utility-oriented approach towards adoption, rather than just cashing in on the meme frenzy like some of its peers. FLOKI has created various products such as NFT-based games, NFT collections, and even a crypto debit card.

FLOKI responded to the news with a 26.74% jump as of press time, data from CoinMarketCap showed. In fact, Floki outperformed other meme coins over the last one-month period, recording massive gains of 146%.

 

Share

Aniket Verma works as a journalist at AMBCrypto. Contrary to most who are primarily interested in merely tracking price movements of cryptos, his focus is on examining the niche intersection between cryptocurrencies and traditional finance. A so-so Bitcoin maximalist, Aniket has a strong disdain for memecoins and the unfounded frenzy they seem to generate every market season. Coming from a strong engineering background, Aniket previously worked as a Content Manager for TV9 Network. Before his stint over there, he was an Associate Multimedia News Producer at Reuters.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.