FLOKI DAO Approves Liquidity Funding for Its ETP in the European Market
FLOKS DAO Members voted unanimously to use a portion of the funds in the community buyback wallet, totaling 16.3 billion tokens, as liquidity for the upcoming Floki exchange-traded product (ETP) in the EU.
The product is scheduled to be launched in the first quarter of 2025. Floki ETP will provide investors in traditional European financial markets with investment opportunities in meme tokens.
For the first time ever, the Floki DAO proposal passed without a single vote against it. Now, Floki’s ETP is expected to become the second Meme token to be launched on a regulated stock exchange. The only memecoin that can do this is the Dogecoin ETP.
Once launched, Floki will be available for trading Six major Swiss exchanges in Switzerlandthe third largest stock exchange in Europe. According to CoinGecko data, the meme coin currently ranks as the eighth largest meme coin by market capitalization.
A Floki spokesperson said the ETP listing would enhance the legitimacy of the community-driven meme coin.
FLOKI DAO said in a recent postal.
By launching ETP, Floki aims to achieve broader goals adopt its memecoin Institutional retail markets across Europe.
a series of milestones
an ETP, Similar to ETFs, but different structuresallowing investors to trade assets on stock exchanges. Floki ETP bridges the gap between traditional finance (TradFi) and cryptocurrencies by allowing access to its memecoins on regulated stock exchanges.
This enables institutional and retail investors to easily buy and hold Floki in a transparent and regulated manner. The approval to provide liquidity funding for its ETP is just one of several recent successes for Floki.
November, United States Commodity Futures Trading Commission (CFTC) Highlights Floki as Case Study as Utility Token alongside Ethereum avalanche at a meeting of its Global Markets Advisory Committee.
In early December, Floki announced the launch of a debit card. This method allows Floki users to pay with cryptocurrency wherever Visa or Mastercard is accepted.
In December last year, Meme Coin also announced the launch of a cryptocurrency education platform called “University of Floki”. Despite facing a recent reckoning in the memecoin market, Floki has been focused on building an ecosystem around its flagship memecoin.
Earlier this year, Floki DAO also invested 200,000 USDT in CATa meme coin inspired by “Simon’s Cat”. Following its launch, CAT soared more than 250%, reaching a market capitalization of $275 million, although it has since declined. Binance also listed the token This contributed to a price increase shortly after launch.
Overall, A broader memecoin market By 2024, its total market value will reach $112 billion. FLOKI itself is up about 375% for all of 2024. To capitalize on this growth and bridge the gap between meme coins and institutional adoption, Floki is moving forward with its plans to launch an ETP.
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