cryptonewsz.com
The Floki Inu community has reached a significant milestone as the Floki DAO has approved a proposal to provide liquidity for the creation of a Floki ETP. This marks the first time in the DAO’s history that a proposal has passed without a single opposing vote.
Proposal to Boost Liquidity Ahead of Floki ETP
The proposal, announced in a post on X, will see a portion of the 16,310,285,772.6 FLOKI tokens held in a “community buyback wallet” used to provision liquidity for the Floki ETP. The remaining crypto tokens from the wallet will be burned.
“The proposal, which was the first time ever in which a Floki DAO proposal has been passed without a single opposing vote, will result in a portion of 16,310,285,772.6 FLOKI tokens currently residing in a ‘community buyback wallet’ being used to provision liquidity for the Floki ETP while the rest is burned,” the post stated.
Yahoo Finance, one of the largest financial news platforms in the world, also covered the upcoming Floki ETP.
This shows growing mainstream recognition of Floki’s importance in traditional finance.
The article highlights how Floki will become only the 2nd memecoin with an ETP… pic.twitter.com/GxZcQTwZKu
— FLOKI (@RealFlokiInu) December 27, 2024
The Floki ETP, backed by a reputable asset manager and ETP issuer, is set to launch in the first quarter of 2025. Upon its release, it will become the second memecoin ETP on a regulated stock exchange, following the Dogecoin ETP. The launch is seen as a key development for the Floki protocol, which is working to promote adoption and grow its position in the cryptocurrency market.
“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,” stated B, core advisor at Floki. “The Floki ETP will be going live on the SIX Swiss Exchange in what is an almost unprecedented move for memecoin legitimacy!”
The approval of the proposal by the Floki DAO is a notable step forward for the community, as the protocol continues its efforts to achieve its ambitious goal of becoming the world’s most-used crypto. The introduction of the Floki ETP is expected to further raise the profile of Floki Inu within the broader financial market.
Also Read: Bitwise Files for Bitcoin Standard Corporations ETF with the SEC