The post Floki DAO Considers Liquidity Plan for Next Memecoin ETP appeared on BitcoinEthereumNews.com.

Floki DAO has disclosed that there could be a launch of Floki ETP in the first quarter of 2025 on the SIX Swiss Exchange. An analyst has predicted that FLOKI could hit $0.002 by March 2025 as it forms a repetitive structure for the third consecutive cycle.  Floki Dao, the organization that manages the memecoin Floki, has disclosed the possibility of the launch of a Floki Exchange Traded Product (ETP) in the first quarter of 2025 (Q1 2025). According to the announcement, the team has been in constant touch with a reputable Asset Manager and an ETP Issuer for several months now. Currently, the development is reported to be in an advanced stage and would be tradable on the largest stock Exchange in Switzerland, the SIX Swiss Exchange. Details of the Floki ETP Analyzing the press release, CNF uncovered that a DAO proposal that requests the provision of liquidity for the ETP has been submitted for approval. According to the team, a series of buybacks was made three years ago, with about 16,310,285,772.6 FLOKI tokens currently held in BNB and ETH addresses. Fascinatingly, a portion of this amount is proposed to be used to provide liquidity while burning the rest on the day the ETP launches. We are currently unable to disclose specifics about the ETP due to NDAs. However, if this proposal passes, it will be executed in line with the Floki DAO’s mandate, and a future announcement will provide more details about the ETP when it goes live and disclosure is permitted…The FLOKI tokens that will be used to provision liquidity for the ETP will always remain Floki’s property and can be withdrawn in the future if there is enough third-party liquidity in the ETP. At press time, 152 votes had been cast, with 100% of the voters…

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Filed under: News - @ December 27, 2024 4:25 am