What is Floki? Information about FLOKI Token

Memecoins are projects that typically lack substantial applications for the cryptocurrency market. However, a few of these projects do offer extremely useful applications, and Floki is one such memecoin. So, what is Floki exactly? Let’s explore it together with AZC.News!

What Is Floki Information About Floki Token Azc

What is Floki?

Floki is a type of memecoin that operates on both the Ethereum and Binance Smart Chain networks.

Token holders receive rewards for holding the token, similar to other memecoins like SafeMoon. These rewards are primarily given to wallets with large balances, creating a structure somewhat resembling a pyramid scheme.

What is Floki?
What is Floki?

Floki was created shortly after Tesla CEO Elon Musk tweeted that his Shiba Inu would be named Floki. The project aims to be more than just a memecoin by offering Floki for purchases at its store and participation in its own trading marketplace called “Flokiplace.”

It is the only project that Floki partners with Elon Musk’s brother, Kimbal Musk, and his “Million Gardens Movement,” which aims to address global food insecurity. Initially, the coin was listed at a very low price, and by September 2021, FLOKI had increased by more than 250,000%.

Related: What Are Memecoins? Top 5 Most Promising Memecoins of 2024

What are Floki’s Products?

The Valhalla (NFT Metaverse Game)

Floki Valhalla
Floki Valhalla

Floki Valhalla is an NFT Metaverse game with a “play to earn” model, using FLOKI as the main token. The project aims to tap into the trillion-dollar Metaverse industry. The game integrates on-chain interaction mechanisms and allows for NFT upgrades.

Valhalla offers unique features such as:

  • Gardening system
  • In-game characters called Vera
  • Robust combat system
  • NFT ships
  • Various other items

These features help players earn and collect tokens (FLOKI) through in-game missions. Participants can communicate, track progress, and meet in the Valhalla space. The first Open World release of Valhalla was launched in Q4 2022, allowing users to experience it on the Optimism Goerli Testnet.

FlokiFi

Flokifi
Flokifi

FlokiFi is a suite of decentralized financial products developed under the Floki brand. The first utility product of FlokiFi is the FlokiFi Locker protocol, which provides a solution for locking assets such as LP tokens, tokens, NFTs, and multi-tokens. As of May 9, 2023, FlokiFi Locker had achieved a total value locked (TVL) of over $22,355,553 with a total of 37 locked NFTs.

FlokiFi Locker features include:

  • Locking multiple NFTs in a single transaction
  • Long-term token locking
  • Support for ERC-1155 standard, allowing the storage of various assets in a single smart contract

FlokiFi Locker is compatible with EVM blockchains including Ethereum, BNB Chain, Polygon, Fantom, Avalanche, Optimism, Arbitrum, EVMOS, Cronos, Kucoin Community Chain, OKXChain, and Dogechain. When using the service, users must pay transaction fees such as:

  • Token lock fee: 50 USDT/transaction
  • NFT lock fee: 100 USDT/transaction
  • Multi-token (ERC-1155) lock fee: 100 USDT/transaction
  • Token or multi-token allocation fee: 100 USDT/transaction
  • LP token lock/allocation fee: 0.5% of LP value

Transaction fees are distributed as follows:

  • 25% used to buy and burn FLOKI tokens to reduce inflation
  • 75% goes to the Floki treasury

NFTs

Nft On Opensea
Nft On Opensea

Floki has three main NFT collections, providing special benefits for owners within the overall ecosystem and Valhalla. These collections include:

  1. Flokitars: A dog-themed collection launched in September 2021 with 10,000 items, averaging 0.056 ETH/NFT. Flokitars holders have special privileges when participating in Valhalla.
  2. Diamond Hands (Genesis): The Genesis collection is divided into 4 tiers: Ruby, Diamond, Silver, Bronze. Valhalla players can use Genesis NFTs to enhance their characters’ power and gain special attributes such as Longship, discounts on items at B’s Shop, and many secret features.
  3. Gemstone: Gemstones like Aurum Gemstone of Truth, Diamond Mind Gemstone, and Ruby Heart Gemstone offer unique benefits such as free access to products in the Floki ecosystem, early access to the FLOKI card, and future FLOKI token airdrops.

Floki also launched an NFT collection to support earthquake relief in Turkey, with 100% of initial revenues donated.

FlokiPlaces

FlokiPlaces is an NFT Marketplace where users can trade NFTs quickly and cost-effectively, using FLOKI as the primary currency. Additionally, Floki has developed Flokishop, a store selling clothes for humans and pets, accepting payments via Binance Pay.

Floki Card

The Floki card is used for transactions within the Floki ecosystem, provided by FCF Pay, a multi-chain cryptocurrency payment gateway supporting various assets. The Floki card can be integrated with Google Pay, Apple Pay, and Samsung Pay, with a balance limit of $5,000 and a daily transaction limit of $2,500. The top-up fee is 3.75%, with 1% used to buy and burn FLOKI tokens to reduce inflation.

Floki University

Floki University is an educational platform providing crypto-related information for Web3 users. The project has successfully tested with over 300 students and plans to launch its first release in 2023. FLOKI token will be the main utility token of Floki University, supporting certain functions within the platform.

Additionally, Floki has two other products: Tokenfi and staking.

What Makes Floki Stand Out?

3

Floki not only builds a utility ecosystem allowing users to earn rewards through Valhalla and Floki Locker but also aims for significant community value. The project has partnered with Pencils of Promise to build virtual schools globally, with authorized school constructions in Ghana, Guatemala, Laos, and Nigeria.

Floki’s impact extends through the Million Gardens Movement, helping millions access clean and healthy food, fostering community health. Additionally, Floki launched an NFT collection to raise funds for earthquake relief in Turkey, with all proceeds donated for humanitarian purposes.

Development Team

Team
Team

Floki’s development team consists of influential individuals in the cryptocurrency field, forming the #FlokiVikings community, including:

  • Mr. Brown Whale: Core contributor
  • Thomas Garetz: Lead instructor at Floki University
  • Dr. Amanda Kavner: Platform development lead at Floki University
  • Jackie Xu: Lead developer
  • Melody Vaughn: Head of community relations and social media

Together, they contribute to the success and growth of the Floki project, leveraging their knowledge and experience to build a robust ecosystem for the community.

Investors

Floki has received an investment of $1.25 million from DWF Labs.

Partners

Floki has partnered with notable entities such as Huobi Wallet, Alfa Romeo, Wintermute, Chainlink, Certik, Curate, Now Payments, and Shopping.io, among others.

What is the FLOKI Token?

After understanding what Floki is, let’s explore its token – FLOKI.

Basic Information about FLOKI Token

  • Token Name: Floki
  • Ticker: FLOKI
  • Blockchain: Ethereum, BNB Chain
  • Token Contract:
    • Ethereum: 0xcf0c122c6b73ff809c693db761e7baebe62b6a2e
    • BNB Chain: 0xfb5b838b6cfeedc2873ab27866079ac55363d37e
  • Token Type: Utility
  • Total Supply: 9,691,328,671,318 FLOKI
  • Circulating Supply: 9,558,710,983,309 FLOKI

Uses of FLOKI Token

FLOKI token can be used for:

  • Within the Floki ecosystem: Used to pay fees and participate in activities such as gaming on the Floki platform.
  • Payment and settlement: Serves as a medium of exchange and settlement among participants on the platform.
  • Token burning: The total supply of FLOKI will be reduced when users utilize the platform’s products.

FLOKI Token Allocation

  • Buy back automation: 55%
  • Marketing for influencers: 27%
  • Reward for FLOKI holders: 18%

FLOKI Token Trading

Currently, FLOKI Token is traded on various CEX platforms such as Binance, OKX, and Bybit.

Market

Roadmap

Recently, Floki announced the launch of a trading bot, which will charge a 1% fee per transaction, with 50% of the fees used to buy FLOKI on the open market, creating upward pressure on the price.

Additionally, Floki DAO recently burned 15 billion FLOKI tokens.

Related: Memecoin Floki Launches Trading Bot, Price Immediately Rises

Similar Projects

Floki is considered a memecoin similar to Dogecoin, Shiba Inu, and Pepe.

Project Information

Conclusion

This article has provided a comprehensive overview of what Floki is and detailed information about the FLOKI Token. If you have any questions or concerns, please leave a comment below for further clarification.

4.3/5

(4 votes)
  1. Avatar of Zayyanu umaru Musa
    Zayyanu umaru Musa

    It a great project
    100%

  2. Avatar of EDEH Ifeanyi Emmanuel
    EDEH Ifeanyi Emmanuel

    Great news

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