FLOKI DAO Votes Unanimously to Support Floki ETP Launch
FLOKI DAO Takes Decisive Action
The FLOKI DAO has made a groundbreaking decision by voting unanimously to allocate liquidity for its upcoming Floki Exchange-Traded Product (ETP). This historic vote took place on December 27, showcasing the community's strong support for Floki's integration into traditional financial markets.
Floki ETP Overview
- FLOKI tokens - A portion of 16,310,285,772.6 tokens from the community buyback wallet will be redirected towards liquidity for the ETP.
- The remaining tokens will be permanently burned, fortifying the token's scarcity.
- The ETP is set to launch on the SIX Swiss Exchange in the first quarter of 2025.
Significance of the Vote
This decisive vote positions Floki among the elite memecoins, likely becoming the only one alongside Dogecoin to have an ETP on a regulated exchange. A Core Advisor at Floki praised the unanimous decision, emphasizing its potential to confer legitimacy upon the memecoin.
Collaboration with Traditional Finance
The creation of the Floki ETP is being spearheaded by a prominent asset manager working in concert with an ETP issuer, marking a significant crossover into the traditional finance (TradFi) ecosystem. This initiative aims to provide a reliable access point for both institutional and retail investors.
Regulatory Recognition
This announcement follows the U.S. Commodity Futures Trading Commission's acknowledgment of Floki as a utility token, which bolsters its credibility in the crypto space.
As Floki continues to innovate and expand, its mission remains clear: to become the world's most recognized and utilized cryptocurrency.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.