Floki Inu is a meme coin that is compatible with both Ethereum and Binance Smart Chain networks. It was issued in August 2021 in response to Elon Musk’s tweet where he declared that his Shiba Inu dog would be known as Floki, thus making another splash in the crypto community. Tesla and SpaceX CEO, being a well-known person with a high level of influence, is also known for his love for the Shiba, the meme dog that that $DOGE coin is related to.
The team standing behind the project aims to move away from being a simple memecoin. Its members plan to add various utility features to their project such as the possibility to buy and store non-fungible tokens while building a strong community of token holders. In this way, the project sets to beat its two key rivals, $DOGE and $SHIBA, and become one of the top projects in the crypto market.
The Floki team aims to add a variety of functions to their token so as to increase its value. Thus, the token should be used as a native currency of Valhalla, a native NFT gaming metaverse of the project. The platform would feature the ‘play-to-earn’ business model enabling games to make money on the NFTs that they use in the game.
The FLOKI token will be used on the FlokiPlace, a commercial NFT marketplace where users will be able to buy and sell various collectibles represented in the form of non-fungible tokens. Also, it will enable advertisers and publishers to interact with each other within Floki Inuversity, an educational platform with a huge database of crypto-related content that will be accessible for a fee. The payments will be accomplished with the help of FLOKI.
Finally, Floki Inu settles partnerships with various projects that have the goal of promoting crypto payments in real life. Thus, it has partnered with CryptoCart, a digital marketplace where one can buy real-world goods with a variety of supported cryptocurrencies. Another partner of Floki Inu is Curate, an application that enables spending crypto not only on digital assets but also on real-life goods. Finally, the project partners with 8 professional football clubs to expand its global marketing campaign further.
The three main pillars of Floki
On its website, Floki declares three key pillars that make the coin the people’s cryptocurrency worth using in daily life.
First, it’s the meme culture of the coin that unites people all over the world. The team believes that it’s the only way to bring cryptocurrencies to mainstream adoption. Second, the token has strong utility functions with solid fundamentals that have already been discussed above. Finally, the charitability pillar points to how blockchain and cryptocurrencies facilitate our daily lives and generally make the world a better place. With that said, Floki declares its plans to build schools in undeveloped regions with Ghana being the first in the row.
The FLOKI token
The maximum supply of FLOKI coins is capped at a fixed number of 10 trillion with new coins being gradually released into circulation. 2% of all coins should be distributed as Reflection Reward to $FLOKI holders, 6% of coins will be used for the buy-back automation and 3% will be spent on marketing activities. Moreover, for every $FLOKI trade, a 3% fee is charged. This fee is forwarded to the so-called Treasure Tax, the marketing wallet of the project secured by a multi-sig protocol. The collected funds will be used for the future growth of the project while no team member will be able to control them.
Though Floki Inu was originally launched on Ethereum, it has also added the BSC support. Thanks to BSC implementation, the network fees remain relatively low which enables users to reduce their costs when using FLOKI. Also, it’s become possible for the project to create a liquidity pool on PancakeSwap and at the same time ensure that the total circulating supply would never exceed the declared volume. $FLOKI holders can seamlessly swap their tokens using the ETH-BSC bridge at a 1:1 ratio.
The token can be stored on any wallet that supports Ethereum and Binance Smart Chain networks with Metamask being one of the most popular options. It can be purchased on decentralized exchanges such as PancakeSwap and Uniswap. The centralized exchanges include Gate.io, Poloniex, and Lbank. Also, the official website offers an option to buy the token with a bank card through a simple and user-friendly interface provided by Guardarian, a service building a bridge between fiat and crypto.
The Floki Inu team and partners
Some of the Floki Inu team members prefer to stay anonymous and are only known on the web under pseudonyms. They include core contributors B (The Viking), Sabre, PetaByte Capital, Mr. Brown Whale, and a few others.
Other participants of the projects declare their names publicly. Dr. Amanda Kavner is the Head of Floki University. With 10+ years of learning experience and PhD in the Curriculum, Instruction and the Science of Learning Program of the University at Buffalo, she concentrates her efforts on Machine Learning applications in Computational Cognitive Neuroscience.
Thomas Garetz is the Floki University Lead instructor. He combines this activity with investment and his own crypto/finance Youtube Channel featuring more than 180k subscribers. The leading developer of the project is Jakie Xu, a respected figure in the blockchain industry with a solid background.
In addition to Curate and CryptoCart mentioned above, Flokie has also set partnerships with such projects as Chainlink, Wintermute, Certik, Now Payments, and many others. Moreover, Floki has partnered with Kimbal Musk who is the brother of Elon Musk, through the Million Gardens Movement with the goal to resolve the problem of food insecurity in the world.