FLOKI Poised To Follow Dogecoin In Memecoin ETP Ranks After DAO Nod
FLOKI has received overwhelming support for a proposal to allocate tokens for liquidity in a regulated Exchange-Traded Product (ETP), becoming the second memecoin to pursue this after Dogecoin. The vote saw 99.9% approval, marking the first Floki DAO proposal passed without opposition. Approximately 16.3 billion FLOKI tokens will be used for ETP liquidity, while the remainder will be burned. The Floki ETP is set to launch in early Q1 2025 on the SIX Swiss Exchange, enhancing FLOKI's visibility in traditional finance. Currently, Dogecoin is the only memecoin with a live ETP. The Floki team emphasizes that allocated tokens will remain under Floki's control, allowing for withdrawal if sufficient third-party liquidity is established. The DAO approach continues to guide the project, with community support for initiatives aimed at increasing FLOKI's recognition. FLOKI is currently trading at $0.0001798, having reclaimed its 200-day EMA but still below key resistance levels.
