Crypto News: Floki Team’s New Token and Staking Proposal Gains Overwhelming Community Support

Crypto News: Floki Team’s New Token and Staking Proposal Gains Overwhelming Community Support

Crypto News – The Floki team has made a groundbreaking proposal to its community, outlining plans for the introduction of a new token and an associated staking program. As of the latest update, the proposal has garnered an impressive 97.91% community support, indicating a high likelihood that Floki (FLOKI) will soon have a companion token.

Barring any significant alterations in the voting outcome, Floki is set to launch its new token and staking program on October 27. The project is committed to ensuring liquidity for this token on decentralized exchanges such as Uniswap and Pancakeswap, with the aim of providing users with a seamless trading experience.

According to the proposal, the primary method for users to acquire Floki’s upcoming token will be through the process of locking and staking FLOKI tokens for varying periods, ranging from three months to four years. Notably, there will be no pre-sale or private sale event, with the majority of the token supply, accounting for 56%, allocated through the staking program.

The rationale behind Floki’s decision to introduce this new token and staking program is elucidated in their comprehensive proposal. The Floki team acknowledges that staking has been a highly requested feature by the project’s community. While they refrained from implementing it for a significant period, they now believe that it will substantially contribute to the growth and long-term sustainability of the ecosystem. One key driving factor is the creation of demand for FLOKI, as users will be required to purchase and stake FLOKI tokens to earn rewards.

Furthermore, Floki emphasizes that its forthcoming token is more than just a token for farming; it’s positioned as a “robust utility token.” The team is actively engaged in extensive development efforts to enhance the utility and functionality of this token, as stated in their proposal.

In addition to these developments, Floki has reportedly established a partnership with the renowned market-making firm, DWF Labs, for the launch of their new token. Building on their existing partnership with BitGo, they assert that agreements have been reached with leading centralized exchanges to facilitate the listing of the new token upon its launch.

If and when the new token becomes available, Floki will join the ranks of dog-themed blockchain projects with multi-token ecosystems. Notably, it will compete with more prominent counterparts like Shiba Inu, which boasts a suite of three tokens: Shiba Inu (SHIB), BONE ShibaSwap (BONE), and Doge Killer (LEASH).