FLOKI Launches Decentralized Name Service to Improve User Experience and Add Value

In a significant development, FLOKI has launched its Name Service on the BNB Chain mainnet. This new feature lets users create decentralized .floki domain names, enhancing the token’s utility. The name service is not only designed to identify transactions, but can also be used to create decentralized websites, blogs, or even resumes. When the decentralized website service goes live, the .floki domains will find broader applications, further integrating users into the blockchain ecosystem.

Built in collaboration with SPACE ID, the FLOKI name service seamlessly integrates with popular decentralized applications (DApps) such as Trust Wallet, SafePal, and PancakeSwap. Payments for domain names are made using FLOKI tokens, which increases the utility of the token and the overall ecosystem. Prices for services are competitive. A 4-character domain costs 160,000 FLOKI per year (about $42.79 USD), while a 3-character domain costs 660,000 FLOKI, which is roughly equivalent to $176.49 USD per year.

The move is seen as part of FLOKI’s wider strategy to increase its market relevance and compete with the likes of Shiba Inu. The expanded utility of a naming service can increase the market value of a token and attract more users to its decentralized ecosystem. Over the past 24 hours, FLOKI has fallen 5.82% and is trading at $0.0002633 at the time of writing. It is expected that the name service may initiate a price recovery.

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