Memecoins
Floki launches new project with an eye on the growing tokenization industry
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Journalist
- 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%.
