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The development team behind the Floki meme coin has announced exciting plans for the introduction of a new Exchange Traded Product (ETP). Collaborating with a trusted asset manager, the team aims to create a $FLOKI-based ETP specifically designed for European market participants, with a targeted launch in the first quarter of the upcoming year.
What is the $FLOKI Coin ETP?
In a recent post on the social media platform X, the Floki project team highlighted their months of extensive research and meticulous preparation. They anticipate that the $FLOKI ETP will be operational by early 2025, marking a significant development in the project’s trajectory.
How Will Liquidity Be Managed?
To support the ETP’s launch, the $FLOKI team plans not only to facilitate liquidity but also to execute a token burn. They propose using part of the existing $FLOKI supply, totaling over 16 billion tokens, for liquidity while burning the remainder on the ETP’s launch day. This strategy is described as a rare and significant move in the cryptocurrency landscape.
- The $FLOKI ETP will be listed on the SIX Swiss Exchange, enhancing access for both institutional and retail investors.
- It aims to introduce $FLOKI into the regulated financial space, following in the footsteps of Dogecoin‘s successful ETP.
- The project is focused on the effective management of liquidity and token burning to ensure the ETP’s success.
The anticipated launch of the $FLOKI ETP is expected to open new avenues for investors and foster greater acceptance of meme-based cryptocurrencies. Furthermore, it may help establish memecoins as legitimate financial products, potentially altering market dynamics.