Floki Inu (FLOKI) is a next-gen meme coin that seeks to combine usability with fun. The project takes inspiration from the original dog-based meme coin and adds to the functionality via an immersive DeFi ecosystem. Floki Inu uses the same Shiba Inu dog that has been associated with the meme-coin industry since its inception.
The Shiba Inu is a popular ancient Japanese breed that was imported to the US over 60 years ago. Floki Inu gets its name from Elon Musk’s pet dog Shiba Inu. The developers have labeled the project the “people’s cryptocurrency” and the platform now has more than 400,000 registered wallet holders. Currently, Floki Inu ranks among the top meme coins in terms of market capitalization. Here’s some valuable insight into Floki and how it seeks to drive adoption.
What Problems Does Floki Inu (FLOKI) Attempt to Fix?
Floki Inu seeks to solve one of the biggest issues facing meme coins, a lack of usability. Memecoins are fun and help to get people into the market. However, they don’t have much usability. Projects like Dogecoin only operate as cryptocurrencies.
In comparison, Floki Inu offers full support for DeFi functionalities. The token combines passive income with support for the latest digital assets such as NFTs. The added programmability enables the network to provide support for games and finance applications as well.
Benefits of Floki Inu (FLOKI)
Floki operates as a fully autonomous protocol. The system leverages smart contracts and a decentralized ecosystem to drive ROIs for users. Floki Inu supports the latest technologies including P2E gaming, NFTs, and advanced DeFi pools.
Following in Dogecoin’s Humanitarian Efforts
One of the biggest advantages of Floki Inu is its humanitarian efforts. The platform has taken inspiration from all the good work Dogecoin has done through its community initiatives. Shiba Inu seeks to support the building of a high-tech school in Ghana and other regions of the world.
Strong Community
The Floki Vikings is the name of the community that supports this project. The Vikings have proven to be a formidable community as their efforts have helped to drive adoption to new heights for the DeFi market. A large community helps to drive liquidity and innovation for the project. It also helps to promote decentralization and security. Floki has an active social media presence as well.
How Does Floki Inu (FLOKI) Work?
Floki Inu functions using a combination of advanced features including FlokiFi, Floki Places, Valhalla, Floki University, and a custom cryptocurrency. The network charges a .3% fee on all trades which goes towards future development of the network.
FlokiFi
FlokiFi is the DeFi sector of the ecosystem. This feature includes a digital asset locker solution which improves efficiency. The locker supports the ERC-1155 multi-token standard which enables it to work with a massive number of tokens in circulation today.
Digital lockers are a great way for projects to lock up funds. Developers want to lock up funds to help build trader confidence. It’s common for projects to lock up developer funds for +2 years. There are even traders that will not participate in ICOs or other launches without some form of token lockup.
FlokiPlaces
FlokiPlaces is where users can trade and collect NFTs (non-fungible tokens). These tokens can represent single digital or real-world assets. NFT tech is one of the fastest-growing sectors in the market. FLokiPlaces includes a merchandise marketplace as well.
Users can create and sell their NFTs to others using the market palace. The system provides near real-time settlement and is fully transparent with all activity being able to be tracked via network explorer.
Floki Inuversity
Floki Inuversity is a collection of helpful tools and learning info to help you get the most out of the ecosystem’s offerings. Here you can connect with other community members and learn why FLOKI is one of the top-performing meme coins available today.
Floki Inuversity includes a full educational curriculum that can take you from a newbie into a Floki master. The information will help to simplify onboarding, using features, and metaverse integrations.
Valhalla
Valhalla is the NFT gaming metaverse that is connected to the project. This digital landscape makes it easy for users to create and participate in play to earn gaming titles and much more. Users can secure returns for winning battles and collecting NFTs.
Token – FLOKI
FLOKI is the primary utility token for the network. The token is used to pay fees and rewards. It can also act as a cryptocurrency that can be sent internationally in a frictionless manner. There is a total supply of 10 trillion FLOKI designated for the life of the project. The token was recently listed on Binance.
Notably, FLOKI comes as an ERC-20 token standard on the Ethereum blockchain and a BEP-20 token on Binance Chain. This structure originally meant that the token used both a PoW and PoS consensus algorithm but following the ETH 2.0 upgrade, all systems are now PoS.
History
Floki Inu launched in 2021 intending to expand on the usability of the memecoin sector. The platform introduced a host of features that made it easy to secure passive returns. Interestingly, the platform was launched by a group of anonymous developers. The current development team includes B, Sabre, MrBrown Whale, and Jackie Xu.
This team has helped to drive adoption through the combination of performance and strategic partnerships. The project has secured partnerships with Chainlink, Trader Joe, and ApeSwap. Notably, Floki recently dropped the Inu off the name as part of its strategy to become a full-fledged DeFi ecosystem. The network is now focused on creating new DeFi passive income opportunities and expanding programmability.
Final Thought
Anyone who has watched the rise of Memecoins recently can attest to the excitement they draw. These projects continually outshine competitors during times of market uncertainty. Notably, Floki Inu seeks to transform memecoins from purely speculative assets into usable financial tools.
