Miami, Florida, December 31, 2024, PakGazette
Floki DAO has voted decisively in favor of allocating liquidity to facilitate the creation of a Floki exchange-traded product (ETP).
The proposal was approved on December 27 without a single dissenting vote, a first for 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 to the ETP, while the remaining tokens will be permanently burned.
The Floki ETP will launch 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 to the Floki ETP, Floki is on track to become the only memecoin besides an ETP on a regulated exchange as early as January 2025. The Floki ETP will be listed underway 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 the legitimacy of memecoin,” said B, a senior advisor at Floki.
The creation of Floki ETP is 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 and regulated avenue to access, purchase and hold FLOKI through familiar trading platforms.
An exchange-traded product (ETP) works similarly to an exchange-traded fund (ETF), but with structural differences. Both products allow investors to gain exposure to the underlying assets without owning them directly.
This announcement follows the recent recognition of Floki by the US Commodity Futures Trading Commission (CFTC) as a utility token during the Global Markets Advisory Committee (GMAC) meeting on November 21. Floki was highlighted alongside (ETH) and (AVAX) as part of ongoing regulatory discussions around digital assets.
A key factor in the CFTC’s recognition was Valhalla, Floki’s NFT-based metaverse game scheduled for release in early 2025. Valhalla’s use of FLOKI as an in-game currency played a pivotal role in reinforce the token’s real-world utility and further establish Floki’s legitimacy. within the broader digital asset landscape.
Floki continues to innovate and work hard to drive adoption of its ecosystem in line with its mission to be the most well-known and used cryptocurrency in the world!
About Floki
Floki is the popular cryptocurrency and utility token of the Floki ecosystem. Focused on public service, community, philanthropy and strategic marketing, Floki is working to become the most recognized and used cryptocurrency in the world. With over 490,000 cardholders worldwide, Floki has already established a strong brand presence. Users can learn more at floki.com.
