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Floki Inu originated in June 2021 and prides itself with the slogan “The people’s cryptocurrency”. It aims to be a move token with a large impact on the world. The team behind the token has a truly ambitious goal: Making Floki the world’s about known and most used cryptocurrency.
Is this a feasible goal? Let us have a closer await at their strategies and see what the project is all about.
Floki Inu: a cursory history
Floki Inu: a cursory history
Floki is a meme token with real utility. The name Floki Inu, similar many other dog-related meme coins, stems from Elon Musk. Equally yous may have heard, Elon is a huge fan of Dogecoin, the first meme money that came into existence in 2013. He even started to take Dogecoin as a payment method for the Tesla merchandise shop.
Many clones followed. Most notably, Shiba Inu. A token named after the breed of Elon Musk’south dog. Shiba was launched by an anonymous team in mid-2020 and in less than a year, information technology became the second-largest meme token in terms of market cap.
More clones and spin-offs kept spawning after the success of Shiba Inu. One of them is Floki Inu: a token inspired by Elon Musk’s canis familiaris once again. Not named after the breed this time, just afterward the dog’south actual name: Floki!
Here’due south a picture show Elon posted of the good booiiie:
Co-ordinate to their website, the teams desire to put power in the hands of the token holders and stay clear from venture capitalists and hedge funds. Next to utility, charity is one of the three core pillars of the Floki ecosystem.
Tokenomics and Floki
Tokenomics and Floki
Floki Inu lives on two blockchains at the time of writing: Ethereum and Binance Smart chain and has a maximum supply of x trillion on each chain. Over 9M Floki per chain is currently in circulation. The biggest Floki whales reside on the Ethereum blockchain, merely the amount of retail investors is large on the Binance Smart Chain. This is because BSC is more than attainable due to lower gas fees. People are able to bridge their tokens betwixt these two chains tax-gratis.
When you merchandise Floki, a 4% tax is charged and is put in a marketing wallet (a.thousand.a. the treasury) that is controlled by multiple people. To release funds from this wallet, at least 4 signatures from stakeholders are required. Funds from this marketing wallet are released to go towards growing the ecosystem. To give some examples:
- Purchase billboard ads
- Purchase substitution listings
- Buy ads on social networks such equally Youtube
- Donate to charities
- Sponsor sports clubs
- Sponsor events
- Hire qualified people
An interesting little fact is that the biggest whale holds only 2% of the Floki supply. This is in contrast with some other projects like Dogecoin, where well-nigh 25% of the supply is in the hands of one person.
The iii pillars of Floki
The three pillars of Floki
Floki is built on 3 core pillars. They use the power of memes to create utility and charitability. This distinguishes Floki from other meme coins, most of which have no other purpose than to… well, exist. Many of them are scams, rug pulls and are brusque-lived. Floki has larger ambitions and builds on the following fundamentals:
Floki Inu: the meme
Floki wants to replicate and ameliorate the success of meme coin predecessors such as Dogecoin and Shiba Inu. They know how powerful memes can get and want to tap into this opportunity to form a basis to build upon.
Memes are essential to reach a mainstream audition, according to the team. Floki even has a nickname for their holders: when you hold Floki, yous go a Floki Viking! With proper strategy, Floki may soon become part of the crypto meme trilogy (Doge, Shiba and Floki) and even surpass the other two in terms of market cap.
Utility
The team is building an entire ecosystem that is powered by the Floki Inu! Here’s a quick overview of what we know and then far:
- Payment currency: On a very basic level, Floki is a simple token that can exist used for real-world purchases. It’s already possible to pay with Floki on platforms such equally shopping.io and cryptocart.cc. This is where it ends for the bulk of crypto projects.
- DeFi tools: The kick-off for DeFi functionality was the integration with Chainlink in tardily 2021. This integration allows Floki to have access to accurate and reliable price data for both Ethereum and BSC blockchains. This opens upwardly a ton of opportunities for DeFi tools. Chainlink utilizes so-called ‘oracles’ to admission off-chain data. Partnerships with Inverse Finance and Barnbridge followed speedily. These are DeFi platforms where users are able to stake, borrow and lend Floki.
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Valhalla: Valhalla is the flagship product that should have the project to higher levels. It will be a NFT P2E metaverse with Floki Inu as its main currency. It is therefore crucial that it has access to the real-world price data that Chainlink tin can provide.
Your journey equally a Viking starts on an isle called “Floki Island”. On this island, you volition accept to do quests, see other Vikings, do gardening, conquer other islands, go shopping and collect “Veras” (collectible creatures that vary in features and rarity). Crucial to Valhalla are NFTs (Non-fungible tokens): Your character, the Veras yous capture, and the items you buy in the game are NFTs that can exist traded with other players. In other words, Valhalla will take its own economy, rules and fiscal organization. - Floki University: Crypto is relatively new, and a big percentage of the earth’s population has only a vague idea of what information technology’due south all about. That’s where Floki Academy comes into the movie. Information technology wants to make crypto more than accessible and at the aforementioned time create further exposure to the Floki Inu token. The token will as well be used for certain upgrades on the platform.
- Floki places: Not much is known withal nigh this project. All nosotros know at the time of writing is that information technology will be a marketplace where people can trade NFTs and merchandise. Information technology will most likely be linked to the Valhalla metaverse.
Charitablity
Another ambitious goal of the Floki team is to brand the world a better place and build a school on every continent. They kick-started this initiative in November 2021 past partnering with “Pencils of Promise”, a non-profit that helps to amend the education system in underdeveloped nations. Together, they started the construction of a four-classroom building in Dodo Doma, Ghana.
In later stages, they aim to build a school in every underdeveloped nation in the world!
Another charity that Floki is involved with is the “Million gardens movement”. The Meg Gardens movement is an initiative by Kimbal Musk (Elon Musk’s blood brother). Information technology’s a gardener customs with the goal of educating people on how to grow their own nutrient and make the globe a healthier identify.
Floki wants to contour itself as a projection that is all near innovation, pedagogy and making the earth a healthier place to alive in.
Marketing strategy for Foki Inu
Marketing strategy for Foki Inu
Floki’south marketing tactics are nothing short of aggressive. They’re taking over unabridged countries with their billboards and plaques! And we’re not talking about an obscure mall in the eye of nowhere. Floki ads are running on the NASDAQ billboard on Times Foursquare! In October 2021, Floki Inu stickers could be seen on 300 buses in London!
They’re also partnered with vii world-grade football teams, including “SSC Napoli” and “FC Twente”.
Clearly, Floki Inu wants to attain both the tech-savvy and not-so-tech-savvy people. Controversy has risen among skeptics over the upstanding bug of such ‘gambling’ advertisements. The “Advert Standards Authority” even launched an investigation into the London tube ads after receiving numerous complaints. It banned crypto-related ads in the past for existence misleading.
The partnership between Floki and FC Twente (a Dutch soccer club) was likewise criticized by fans and government officials. They are questioning the ideals behind the ads and worry about the volatility of crypto (which is even more then with meme tokens such equally Floki Inu).
Organizational structure: DAO
Organizational structure: DAO
Floki started migrating to a DAO (Decentralized Autonomous Organization)in January 2022 in an attempt to better reputation, decentralization and create new opportunities. A DAO will put the ability in the hands of the holders. It allows them to vote on important decisions most the future of the project.
DAOs will most likely become the about important organizational structures in the crypto globe. It may become an essential aspect for any project to survive.
A DAO volition also
ameliorate chances to become the token listed on T1 exchanges. A listing on ane or more T1 exchanges (eg. Binance, Kraken, Coinbase, …) can be crucial to the success of a projection. A list on such an exchange would increment the trust and accessibility of the project. The more exchanges that the token is listed on, the easier it is for people to buy and sell.
The upgrade to a DAO should be a seamless feel for the holders.
How to buy Floki Inu
How to buy Floki Inu
If you decided that the Floki Inu holds a bright future, and you want to buy the token, there are a plethora of options to choose from. Hither are the nigh popular ones:
- Pancakeswap
- Uniswap
- Gate.io
- BKE
- LBank
- Hotbit
- With a credit card on Floki.com
How to earn passive income with Floki?
Floki Inu recently dipped its toes in the DeFi waters by partnering up with Chainlink. If you hold Floki for the long-term, you lot accept the opportunity to earn passive income from information technology.
You tin can for example stake your Floki tokens on Inverse Finance and earn significant interest on them. The platform too allows y’all to employ your Floki tokens equally collateral and infringe other coins such equally BTC and ETH. At the fourth dimension of writing, this is merely possible on the Ethereum network.
Another fashion to earn passive income is to provide liquidity to a FLOKI/USDT liquidity puddle on Gate.io. We have an extended tutorial on how to do this hither. More than DeFi opportunities will follow as the project grows, and then stay tuned!
Essential data
Essential information
- Official website: https://www.floki.com/
- Official Twitter: https://twitter.com/realflokiinu
- Official Subreddit: https://reddit.com/r/floki
- Official Coingecko: https://www.coingecko.com/en/coins/floki-inu
- Official Coinmarketcap: https://coinmarketcap.com/currencies/floki-inu/
- Ethereum contract accost:
0xCF0C122C6B73FF809C693DB761E7BAEBE62B6A2E
- BSC contract address:
0xFB5B838B6CFEEDC2873AB27866079AC55363D37E
It is crucial that you use these exact contract addresses. At that place are a ton of simulated tokens and scams out there. They usually have a like proper noun or make you connect your wallet to a faux DEX website.
Determination
Whether you like meme tokens or not, Floki is an interesting project to ponder nigh. It tries to gear up itself apart from its biggest rivals (Shiba Inu and Dogecoin) by offering better utility, a stronger customs and rock-solid fundamentals. The squad behind the project has an unusually strong work ethic and will do everything in their power to launch the token to the moon and beyond. Volition they succeed? Let us know in the comments!
Source: https://flokify.com/floki-inu/
