Floki’s TokenFi goes live to capitalize on tokenization possibilities

Floki has announced launching TokenFi on October 27, 2023, at 3 p.m. UTC. Its ticker is FLOKI, with a total supply of 10 billion. This will be equally split between BSC and ETH. Meaning both networks will host 5 billion FLOKI, respectively. The objective of introducing a crypto and asset tokenization platform is to tap a market that is worth a trillion dollars. The same has been projected to surpass the milestone of $16 trillion by the end of 2030.

BlackRock has called the segment the next evolution in markets, strongly emphasizing its belief in the potential of the industry. BlackRock has assets worth $10 trillion under management. Floki’s TokenFi enters the market to simplify the process of crypto and asset tokenization. Ultimately, the platform wishes to drive itself to becoming the leader of the industry across the world.

The market cap has also been split accordingly, with circulation representing $50,000 and the same amount under the diluted market cap. Industries targeted here are real-world assets, tokenization, and launchpads. FlokiFi has confirmed that it will dedicate 10% of the initial supply to Liquidity Pools on two platforms, namely PancakeSwap and Uniswap.

The contract address is the same for BSC and ETH. The staking program goes live a few hours after the launch of TokenFi, empowering users to earn 56% of the total supply.

FlokiFi has warned the community to be careful with the way in which they receive updates. Scammers are known to trick users into sharing personal information and/or transferring funds to their addresses. Therefore, it has been recommended not to rely on DMs or a request to be added to any group. Additionally, announcements for FlokiFi are never done through an unofficial channel.

Having said that, it is important to note that BSC and ETH will also be sharing the supply, as 5% will be paired with LP on ETH and 5% on BSC. The initial market cap of $50,000 will be split into $25,000×2, with both of them hosting the initial circulating market cap.

The first hour of the launch is going to be imperative. Understanding the importance of it, FlokiFi has decided to restrict the purchase to 100 million tokens for an individual wallet in the first hour of the launch. Also, it has announced a transaction tax of 20% for the first half, which will later be brought down to 5% for a week. Any chance of transaction tax will be subjected to the decision taken via vote by Floki DAO.

The imposition of a transaction tax is aimed at limiting the impact of snipers and ensuring that a portion of a transaction goes to the Floki Treasury, which can then be utilized for the growth and development of the ecosystem.

Moving forward, TokenFi will host several new products that are in the advanced stage of development on Testnet, tentatively scheduled to go live in the fourth quarter of 2023.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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