Floki Enters the Tokenization Arena with TokenFi Launch
Floki has unveiled its new platform, TokenFi, aimed at easing the crypto and asset tokenization process. This revelation comes at a time when the tokenization domain is foreseen to swell to a staggering $16 trillion by 2030. The announcement made on October 26, 2023, underscores Floki’s strategic intent to carve a niche in this trillion-dollar realm, further amplified by the backing of BlackRock, the world’s premier institutional investor overseeing $10 trillion in assets. BlackRock’s endorsement, referring to tokenization as “the next evolution in markets”, adds a layer of institutional credibility to the sector’s prospective expansion.
Scheduled for a comprehensive reveal on October 27, 2023, TokenFi, with its token ticker “TOKEN”, aspires to demystify the tokenization journey, striving to ascend as the apex tokenization platform globally. The platform’s token specifics are as follows:
Token Name: TokenFi
Token Ticker: TOKEN
Total Supply: 10 billion tokens, equally distributed across BSC and ETH chains.
Launch Market Cap: Circulating – $50,000, Diluted – $500,000.
Targeted Industry: Tokenization, Real World Assets, Launchpad.
Initially, a 10% token supply will grace Liquidity Pools on Uniswap and PancakeSwap to foster public liquidity and trading, set to commence at 3 PM UTC on October 27, 2023.
TokenFi has also inked a strategic alliance with DWF Labs, its prime institutional partner and market maker, along with a pivotal partnership with World Table Tennis to broaden its outreach to a colossal audience of 120 million individuals. The meticulous design of TokenFi is not just a flight of fancy; several products are already in the advanced development stage on testnet, poised for a Q4 2023 launch. Besides, a dedicated staking program for FLOKI holders is in the pipeline, set to roll out a few hours post-TokenFi’s launch, thus reinforcing the ecosystem’s stability.
The launch also entails a well-thought-out plan to mitigate sniping activities during the initial trading hours. A 1% wallet cap of the total supply and a 20% buy/sell transaction tax will be enforced in the first hour of trading, transitioning to a 5% tax post the first hour, subject to a subsequent DAO vote.
Image source: Shutterstock
