FLOKI ETP To Follow Dogecoin’s Launch, Here’s The Potential Timeline
The post FLOKI ETP To Follow Dogecoin’s Launch, Here’s The Potential Timeline appeared on BitcoinEthereumNews.com.
Renowned dog-themed meme crypto FLOKI robbed the spotlight from other tokens on Friday, marking a crucial step towards its Exchange Traded Product (ETP) creation. Particularly, the crypto team voted overwhelmingly in favor of a crucial proposal to allow liquidity creation that supports the ETP launch. Simultaneously, in light of the community voting in favor of the proposal, the crypto’s team has also confirmed an ETP launch by next year. This launch follows the footsteps of a Dogecoin ETP launch this year, further echoing a market buzz. FLOKI ETP Creation Gains Backing As Community Votes In Favor Of Crucial Proposal According to an official X post by the Floki community as of December 27, the crypto’s community has voted remarkably in favor of a proposal that supports an ETP launch. Primarily, the proposal to allocate tokens towards providing liquidity for the creation of a Floki ETP has gained phenomenal support, as the proposal was recorded as being passed without a single opposing vote. FLOKI DAO Votes For Proposal Notably, the passing of this proposal will result in a portion of 16,310,285,772.6 tokens, currently residing in a “community buyback wallet,” being used to provision liquidity for the ETP while the rest are burned. In turn, market watchers remain optimistic about a launch shortly ahead, as the community parallelly showcases strong support for achieving the feat. Intriguingly, as a result, the crypto’s community revealed that the ETP is set to go live by Q1 2025. The creation comes as a result of joint efforts between an asset manager and an ETP issuer backing the leading dog-themed meme cryptocurrency. Moreover, this ETP launch will mark the second such feat, following the footsteps of the top meme coin, Dogecoin’s exchange-traded product, launched in November this year. Simultaneously, market watchers remain optimistic over the meme token’s…
Filed under: News - @ December 27, 2024 5:21 pm