FLOKI DAO approves liquidity funding for Floki ETP

The Floki DAO has approved a proposal that aims to allocate a portion of the Floki supply as liquidity financing for a product traded on the Floki exchange.

The decentralized autonomous organization supporting the development of the FLOKI (FLOKI) project unanimously accepted the proposal. This means that some of the 16.3 billion FLOKI tokens in the community redemption wallet will help fund the soon-to-launch Floki ETP. In the meantime, the project will burn the rest of the tokens permanently.

With this development, Floki is set to become the only other meme coin other than Dogecoin (DOGE) to offer ETP through a regulated exchange. This is because Floki ETP is expected to be launched on the SIX Swiss Exchange in the first quarter of 2025.

With this product, Floki aims to ensure greater adoption of meme money in the traditional financial market. ETP will help bridge the gap between TradFi and crypto.

In a comment the project consultant said:

“Floki ETP will go live on the SIX Swiss Exchange, the largest exchange in Switzerland and the third largest exchange in Europe, in an almost unprecedented move for the legitimacy of memecoin.”

Floki recently received a lot of praise after the USCommodity Futures Trading Commission highlighted it as a utility token alongside Ethereum and Avalanche. This took place at the global Markets Advisory Committee meeting in November, where Floki’s upcoming game Valhalla was key to this development.

Floki ETP is one of the crypto project’s many milestones. The project recently launched Floki University, and in the same month the team launched Floki Debit Cards in 31 European countries.

Meanwhile, the broader market for crypto investment products continues to attract investors.

In 2024, the US Securities and Exchange Commission approved both Bitcoin and Ethereum spot ETFs, and issuers have filed for Solana, XRP, and Litecoin ETFs, among others. BTC reaching an all-time high and the boom in meme coins, AI and real-world assets were also among the highlights.