Floki DAO Votes in Favor of Allocating Liquidity for the Creation of a Floki ETP
The Floki DAO has made a bold move, voting overwhelmingly to allocate liquidity for the launch of a Floki Exchange-Traded Product (ETP).
The proposal sailed through on Dec. 27 with unanimous backing a groundbreaking moment for the Floki DAO underscoring the communitys robust enthusiasm for enhancing Flokis footprint in traditional financial markets.
The upcoming vote will allocate a substantial 16,310,285,772.6 FLOKI tokens from the community buyback wallet to enhance liquidity for the ETP, with the balance of tokens set for permanent burn.
The Floki ETP is poised to launch on the SIX Swiss Exchange in Q1 2025.
With the Floki DAO voting overwhelmingly in favor of the proposal to provide liquidity for the Floki ETP, Floki is on track to become the only memecoin besides Dogecoin with an ETP on a regulated stock exchange as early as January 2025. The Floki ETP will be going live on the SIX Swiss Exchange, which is the largest stock exchange in Switzerland and the third largest stock exchange in Europe, in what is an almost unprecedented move for memecoin legitimacy, B a Core Advisor at Floki said.
The launch of the Floki ETP is spearheaded by a prominent asset manager in partnership with an ETP issuer, highlighting Flokis expanding foothold within the traditional finance ecosystem. With the launch of the ETP, Floki is set to connect the worlds of cryptocurrency and traditional finance, offering both institutional and retail investors a safe, regulated pathway to access, purchase, and hold FLOKI via well-known trading platforms.
An exchange-traded product (ETP) operates in a manner akin to an exchange-traded fund (ETF), yet it possesses distinct structural characteristics. Both products enable investors to tap into the potential of underlying assets while sidestepping the need for direct ownership.
The recent acknowledgment of Floki as a utility token by the U.S. Commodity Futures Trading Commission (CFTC) during the Global Markets Advisory Committee (GMAC) meeting on November 21 marks a significant milestone for the project. Floki has emerged in the spotlight alongside Ethereum (ETH) and Avalanche (AVAX) amid the current regulatory conversations shaping the landscape of digital assets.
The CFTCs recognition hinged significantly on Valhalla, Flokis NFT-driven metaverse game set to debut in early 2025. Valhallas integration of FLOKI as its in-game currency has enhanced the tokens real-world utility, solidifying Flokis legitimacy in the expansive digital asset ecosystem.
Floki is relentlessly innovating and striving to enhance the adoption of its ecosystem, aligning perfectly with its mission to become the most recognized and widely utilized cryptocurrency in the world!
Text source: ZyCrypto
