Floki Inu (FLOKI) emerges as the next-gen meme coin, infusing both functionality and fun into its ecosystem. Building on the legacy of the original dog-inspired meme coins Shiba Inu and Dogecoin, Floki Inu takes the concept a step further with an immersive DeFi ecosystem.
Let’s take a step into history, the Shiba Inu breed hails from ancient Japan, finding its way to American shores more than six decades ago. The developer named the project Floki Inu (FLOKI) following an announcement from Tech Billionaire Elon Musk that he’s naming his Shiba Inu pup “Floki”.
If you're reading this, chances are you've heard whispers about a certain crypto token called Floki Inu (FLOKI). Whether you're a seasoned crypto enthusiast or a curious newcomer, this article aims to provide you with a comprehensive guide to everything you need to know about Floki Inu (FLOKI).
What Is Floki Inu (FLOKI)
Floki, once a mere meme-coin inspired by Elon Musk's dog, has blossomed into a dynamic Web3 entity that spans across decentralized finance, NFTs, and the Metaverse. Now referred to as the “People’s crypto”, the Floki Inu ecosystem boasts over 400,000 registered wallet hodlers.
FLOKI, the project's token, thrives as a multi-chain asset, operating seamlessly across Ethereum and Binance Smart Chain (BSC). As an ERC-20 and BEP-20 compliant token, FLOKI holders can easily bridge their tokens between these chains, facilitating storage and transactions.
FLOKI is a deflationary token with 3% tax imposed on sell and buy orders. This tax is sent to the Floki Inu treasury, to sponsor developments within the ecosystem.
The white paper suggests a future reduction in the tax, depending on treasury fund accumulation. However, specifics regarding the timeline and extent of the reduction remain undisclosed.
History Of Floki Inu
Floki Inu was launched in 2021 with a mission to provide meme coins with utility. The platform introduced an array of features to facilitate passive returns. Interestingly, the initiative was spearheaded by a group of anonymous developers, including B, Sabre, MrBrown Whale, and Jackie Xu.
This team has effectively spurred adoption through a blend of performance and strategic partnerships with major projects in the space. The project has formed partnerships with Chainlink, Trader Joe, and ApeSwap.
Notably, Floki recently shed the "Inu" from its name, aligning with its drive to evolve into a comprehensive DeFi ecosystem.
The Floki Inu Ecosystem
The Floki ecosystem consists of various ongoing projects spanning across DeFi, NFTs, and the Metaverse, all powered by the utility token FLOKI.
FlokiFi is the ecosystem’s name for the upcoming collection of DeFi products that will be powered by FLOKI. The first product is “FlokiFi Locker”, touted as the industry’s most innovative protocol for securing digital assets. This locker operates on the ERC-1155 multi-token standard, accommodating a wide array of circulating tokens.
Additionally, discussions hint at another product tied to staking, however, the details are yet to be finalized.
With the rapidly growing NFT sector, Floki Inu intends to go bigger with a marketplace for NFTs and merchandise. The FlokiPlaces marketplace facilitates buying and selling of NFTs and other digital products, a move which helps to position Floki Inu as a payment alternative to BTC, DOGE, and the US dollar.
Floki Inuversity is a metaverse university with the objectives of educating the growing audience on crypto while increasing awareness of the Floki Inu ecosystem. While most of the curriculum will be free, some specialized courses might require FLOKI tokens.
Valhalla is Floki Inu’s Play-2-Earn NFT gaming that enables users to earn rewards while doing what they love and also provide true ownership over their FLOKI earnings.
Benefits of Floki Inu Ecosystem
Functioning as a fully autonomous protocol, Floki operates through smart contracts within a decentralized ecosystem, driving ROIs for users. This platform boasts:
Floki Inu stands out for its humanitarian endeavors, inspired by Dogecoin's impactful community initiatives. Committed to the cause, Floki Inu has aided the construction of a high-tech school in Ghana and other global regions, showcasing the platform's dedication to making a difference.
At the heart of this project is the Floki Vikings community. Their collective efforts have propelled adoption within the DeFi market, enhancing liquidity, innovation, decentralization, and security. This engaged community plays a pivotal role, reflected in the project's active social media presence and contributing to its overall success.
How to Buy Floki Inu Token (FLOKI)
You can get FLOKI from any crypto exchange, centralised or not.
For Centralised exchange;
Step 1: Choose a reputable cryptocurrency exchange like Binance, KuCoin, or Gate.io.
Step 2: Create an account and complete any required verification.
Step 3: Deposit funds in cryptocurrency (BTC, ETH) or stablecoins (USDT, BUSD) into your exchange account.
Step 4: Find the FLOKI trading pair (e.g., FLOKI/ETH, FLOKI/USDT or FLOKI/BTC).
Step 5: Decide between a market order (current price) or limit order (specified price).
Step 6: Confirm your purchase and execute the order.
For Decentralized exchange;
FLOKI is available both in ERC and BSC standards which means you can get it on reputable DEXs like Uniswap, Pancakeswap and Sushiswap. Before proceeding ensure you have sufficient funds in your wallet (Trust wallet or Metamask) with Stablecoins (BUSD, USDT) and gas fees in either ETH for ERC20 or BNB for BSC20 standards. Then proceed as follows
Step 1: Choose a decentralized exchange like Uniswap or PancakeSwap.
Step 2: Connect your wallet (e.g., MetaMask) to the DEX.
Step 3: Search for the FLOKI token in the trading pairs.
Step 4: Swap for FLOKI.
Step 5: Confirm the swap and transaction in your wallet.
Step 6: Wait for confirmation on the blockchain.
Step 7: Check your wallet for the received FLOKI tokens.
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This article is for educational purposes and is not financial advice.