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The Floki DAO unanimously approved a liquidity allocation on December 27, 2024, to support the establishment of a Floki Alternate-Traded Product (ETP) on the SIX Swiss Exchange, enhancing its initiatives to integrate with traditional finance.
This endorsement allows Floki to seek the listing of a regulated financial product, making it the second memecoin, following Dogecoin, to achieve such mainstream integration.
FLOKI DAO VOTES IN FAVOR OF A PROPOSAL TO PROVIDE LIQUIDITY FOR THE CREATION OF A FLOKI ETP!
The Floki DAO has voted overwhelmingly in favor of a proposal to allocate tokens towards providing liquidity for the creation of a Floki ETP.
The proposal, which marked the first time ever… pic.twitter.com/e64vx3QOOl— FLOKI (@RealFlokiInu) December 27, 2024
The ETP is set to debut in early 2025 on the SIX Swiss Exchange, Switzerland’s largest stock exchange and the third largest in Europe.
The liquidity for this project will be sourced from 16,310,285,772.6 FLOKI tokens held in the community buyback wallets.
A portion of these tokens will be allocated to fund the ETP, while the remainder will be permanently burned, thereby reducing the total token supply.
Floki DAO’s Liquidity Allocation for ETP Creation
The Floki ETP provides a regulated investment vehicle aimed at attracting institutional and retail investors seeking cryptocurrency exposure through secure and familiar platforms.
By replicating the performance of exchange-traded funds (ETFs), the ETP enables investors to hold FLOKI without direct ownership of the asset.
This launch aligns Floki with Dogecoin, the only other memecoin to reach this achievement.
Introducing a regulated investment product for a memecoin entails significant challenges, including regulatory scrutiny, liquidity concerns, and the volatility typically associated with meme-based cryptocurrencies.
Nonetheless, Floki has collaborated with a prominent asset manager and an ETP issuer to address these challenges.
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A key advisor at Floki highlighted the significance of this launch, noting that it marks an important step towards the legitimacy of memecoins in traditional finance.
Floki DAO’s Regulatory Milestones and Future Development
As Floki gears up for the launch of its ETP, it has also gained recognition in regulatory discussions.
On November 21, the U.S. Commodity Futures Trading Commission (CFTC) recognized Floki as a utility token during the Global Markets Advisory Committee (GMAC) meeting.
This milestone positioned Floki alongside major cryptocurrencies like Ethereum and Avalanche in influencing the regulatory landscape for digital assets.
Floki’s NFT-based metaverse game, Valhalla, scheduled to launch in early 2025, played a crucial role in achieving this recognition.
Valhalla partners with Sunderland AFC for the entire 24/25 season
We’re proud to announce that Valhalla, our flagship Play-to-Earn MMORPG, is partnering with Sunderland AFC for the entire 24/25 season as a prominent back-of-shirt sponsor!
Key highlights of this partnership:
– 4… pic.twitter.com/bdbPLMkEif— FLOKI (@RealFlokiInu) August 9, 2024
The Floki ecosystem continues to expand through various initiatives, including the launch of the University of Floki and the introduction of a crypto debit card in 31 European countries.
This card, compatible with Visa and Mastercard merchants, supports major cryptocurrencies such as Bitcoin, Ethereum, and Solana.
Available in both physical and digital formats, it features top-up fees but no transaction or exchange rate costs, targeting European markets while excluding OFAC-sanctioned regions.
Additionally, Floki offers digital gift cards globally, with plans to extend physical card availability to more countries.
These initiatives, along with the ETP launch, position Floki for potential growth in 2025.
The post Floki DAO Unanimously Approves Liquidity Allocation for Floki ETP Creation appeared first on Cryptonews.
