Miami, Florida, December 31st, 2024,
Chainwire
The Floki DAO has voted decisively in favor of
allocating liquidity to facilitate the creation of a Floki
Exchange-Traded Product (ETP).
The proposal passed on Dec. 27 without a single opposing vote –
a first for the Floki DAO – highlighting the community’s
overwhelming support for expanding Floki’s presence in traditional
financial markets.
The vote will see a portion of 16,310,285,772.6 FLOKI tokens
from the community buyback wallet redirected to provide liquidity
for the ETP, while the remaining tokens will be permanently
burned.
The Floki ETP is set to go live on the SIX Swiss Exchange in the
first quarter of 2025.
"With the Floki DAO voting overwhelmingly in favor of
the proposal 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 be going live on the SIX Swiss Exchange, which is the largest
stock exchange in Switzerland and the third largest stock exchange
in Europe, in what is an almost unprecedented move for memecoin
legitimacy,” B a Core Advisor at Floki said.
The creation of the Floki ETP is being driven by a leading asset
manager in collaboration with an ETP Issuer, reinforcing Floki’s
growing integration 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 by the
U.S. Commodity Futures Trading Commission (CFTC) as a utility token
during the Global Markets Advisory Committee (GMAC) meeting on
November 21. Floki was highlighted alongside Ethereum (ETH) and
Avalanche (AVAX) as part of ongoing regulatory discussions
surrounding digital assets.
A key factor in the CFTC’s acknowledgment was Valhalla, Floki’s
NFT-based metaverse game slated for launch in early 2025.
Valhalla’s use of FLOKI as its in-game currency played a pivotal
role in reinforcing the token’s real-world utility and further
establishing Floki’s legitimacy within the broader digital asset
landscape.
Floki continues to innovate and work hard towards pushing
adoption of its ecosystem in line with its mission to be the
world's most known and most used cryptocurrency!
About Floki
Floki is the people’s cryptocurrency and utility token of the
Floki Ecosystem. Focused on utility, community, philanthropy, and
strategic marketing, Floki is working toward becoming the world’s
most recognized and used cryptocurrency. With over 490,000 holders
globally, Floki has already established a strong brand presence.
Users can learn more at floki.com.
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Contact
Community Relations
Officer
Pedro
Vidal
Floki
marketing@floki.com