Great news 🥳 $FLOKI is now the second asset approved for the ETP 🤩 Keep building 💪
Floki DAO unanimously supports passing a proposal to allocate a portion of FLOKI tokens to provide liquidity for the FLOKI ETP, with the remainder destroyed. This ETP is driven by an asset manager and is expected to go live in 2025.
FLOKI DAO votes in favor of a proposal to provide liquidity for the creation of the FLOKI ETP!
Floki DAO voted overwhelmingly in favor of a proposal to allocate tokens to provide liquidity for the creation of the Floki ETP.
This proposal, the first time a Floki DAO proposal has passed without opposition, will result in a portion of the 16,310,285,772.6 FLOKI tokens currently held in the "Community Buyback Wallet" being used to provide liquidity for the Floki ETP, with the remainder destroyed.
The creation of the Floki ETP, driven by a respected asset manager and ETP issuer, is expected to go live in Q1 2025 and is currently on track to become the second memecoin ETP to be launched on a regulated stock exchange after the Dogecoin ETP. This is a major milestone for Floki and memecoins!
An ETP is an investment vehicle that can be traded on a stock exchange. It is like an ETF, but with a slightly different structure and purpose. The ETP is a one-stop solution that is fully integrated into the TradFi ecosystem, building a bridge for TradFi investors to easily access, buy, and hold Floki in a secure and regulated manner. A key similarity between ETPs and ETFs is that they both make assets easily accessible to institutional and retail investors in a transparent and regulated manner.
The news of the Floki ETP comes on the heels of the recent revelation that the Commodity Futures Trading Commission (CFTC) highlighted the case study of FLOKI as a utility token at a recent meeting of its Global Markets Advisory Committee.
Floki continues to innovate and work hard to drive adoption of its ecosystem in line with its mission to become the world's most recognized and widely used cryptocurrency! $FLOKI $BNB
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