Bitget Delists TokenFi (TOKEN) Within Only 4 Days of Launch

Recently launched on October 27, TokenFi (TOKEN), associated with the memecoin project Floki, encountered a controversy involving liquidity inflation, leading Bitget exchange to make the decision to delist the token.

Bitget Delists Tokenfi (token) Within Only 4 Days Of Launch_65b96eaf56898.jpeg

As per the announcement on October 31, Bitget initiated the listing of TokenFi (TOKEN) on the evening of October 27. However, during this period, the exchange identified suspicious price fluctuations and observed that the project had injected at least 2,000 tokens into the liquidity pool across various DEX, raising doubts about potential team manipulation and liquidity manipulation of the token.

Furthermore, upon deeper investigation, Bitget uncovered several underlying issues related to the project’s unclear tokenomics. In the interest of safeguarding users, the exchange decided to cease support for TokenFi from October 31.

TokenFi (TOKEN) is a project in the launchpad and Real World Asset (RWA) domain, introduced by Floki (FLOKI) on October 27. The TOKEN tokens are distributed across a total supply of 10 billion, evenly split between the Ethereum and BNB Chain networks. As for Floki, it’s a memecoin project created and owned by the community, inspired by Elon Musk’s Shiba Inu dog.

FLOKI’S SISTER TOKEN TOKENFI IS NOW LIVE AND TRADABLE#Floki’s sister token, TokenFi, with the ticker $TOKEN, is now live and tradable on Uniswap and PancakeSwap!@TokenFi is a crypto and asset tokenization platform that aims to capitalize on the trillion-dollar tokenization… pic.twitter.com/BV2xxv6SHj

— FLOKI (@RealFlokiInu) October 27, 2023

Established in 2018, Bitget is a prominent cryptocurrency exchange focused on futures trading and copy trading services. It has served over 8 million users from more than 100 countries and territories.

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