The Floki DAO has approved a proposal that aims to provide a portion of the Floki offering as liquidity funding for a Floki exchange-traded product.
The decentralized autonomous organization supporting the development of the FLOKI project (FLOKI) unanimously approved the proposal. This means that a portion of the 16.3 billion FLOKI tokens in the community buyback wallet will help fund the soon-to-launch Floki ETP. In the meantime, the project will burn the rest of the tokens permanently.
With this development, Floki is poised to become the only other meme coin alongside Dogecoin (DOGE) to offer an ETP on a regulated exchange. This is because the Floki ETP is expected to launch on the SIX Swiss Exchange in the first quarter of 2025.
With this product, Floki wants to further promote the acceptance of its meme coin in the traditional financial market. The ETP will help bridge the gap between TradFi and crypto.
In a comment, the project consultant said:
“The Floki ETP will go live on the SIX Swiss Exchange, the largest exchange in Switzerland and third largest exchange in Europe, which is an almost unprecedented step for the legitimacy of memecoins.”
Floki recently received major recognition after the US Commodity Futures Trading Commission highlighted it as a utility token alongside Ethereum and Avalanche. This came at the Global Markets Advisory Committee meeting in November, with Floki’s upcoming game Valhalla being key to this development.
The Floki ETP is one of the many milestones for the crypto project. Recently the project introduced the University of Floki, which will be released in the same year…
