FLOKI To Follow Dogecoin In Memecoin ETP Ranks After DAO Nod
FLOKI is expected to become the second memecoin after Dogecoin to launch a regulated exchange-traded product after the Floki DAO voted to approve token allocation for ETP liquidity. The proposal won “overwhelming” support, with 332.7 billion tokens (99.9%) voting in favor, 328.9 million tokens abstaining, and no objections — the team said it was the first time a DAO proposal had been approved without any opposition Passed with votes.
“This proposal is the first time ever that a Floki DAO proposal has passed without any negative votes, which will result in a portion of the 16,310,285,772.6 FLOKI tokens currently residing in the ‘Community Buyback Wallet’ being used to fund Floki DAO provides liquidity to Floki ETP while the rest is burned,” official. announcement From the team highlighted by X.
FLOKI aims to imitate Dogecoin
Community members consider this a landmark event, as the Floki ETP is scheduled to debut in early Q1 2025 in partnership with what the team calls “respected asset managers and ETP issuers.” According to a Floki representative, it will be available at Six Swiss ExchangeBeing recognized as one of the largest stock exchanges in Europe has enhanced FLOKI’s profile in traditional financial markets.
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Currently, Dogecoin remains the only other memecoin with a live ETP, although the product is traded on Sweden’s Spotlight stock market; the team noted that listing on the Swiss exchange has the potential to attract institutions and retail investors looking for regulated crypto assets Wider attention from investors.
“Once online, the Floki ETP will allow institutional investors, regulated entities, and retail investors to access FLOKI in a regulated manner. This is an almost unprecedented major move in this space, as Dogecoin is currently the only one in the world with a live ETP Meme coins, and Floki could be the next meme coin with ETP Dogecoin”, the DAO proposal states.
While many details remain under wraps due to non-disclosure agreements, the team further revealed that any tokens allocated for liquidity will remain the property of Floki itself, meaning that “if there is sufficient third-party liquidity in the ETP,” These tokens can be withdrawn later.
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The news came at a recent meeting of the Commodity Futures Trading Commission’s Global Markets Advisory Committee, where memecoin was used as a “case study for a utility token.” Observers note that any regulatory attention, especially this kind, could increase a token’s credibility in a market that remains sensitive to compliance signals.
A DAO-centric approach remains the cornerstone of the token philosophy, with frequent community votes and proposals determining the direction of the project. Members have been supportive of initiatives aimed at increasing awareness of memcoin, which the team says aims to “become the most well-known and used cryptocurrency in the world.”
The response from the broader cryptocurrency community has also been enthusiastic. Shelby, a cryptocurrency analyst with a large following, commented via SHIBbut FLOKI is leading the way in connecting TradFi and DeFi. “
At press time, FLOKI was trading at $0.0001798. As a result, memecoin regained its 200-day moving average, a key line often referred to as the “bull line.” However, memecoin is still trading below the major resistance area between $0.000205 and $0.000215 (shown in red on the chart). Retaking this area could open the door to a fresh rally towards yearly highs starting in June towards $0.000349.
Featured image created using DALL.E, chart from TradingView.com
