Announced in a post to X/Twitter on October 26, popular memecoin, Floki, has launched its own tokenization platform, TokenFi, in tandem with the hotly anticipated release of its new reward asset, TOKEN.
Further details around TokenFi and its website (expected to launch on October 27) are yet to emerge, but what we do know is that it typifies Floki’s bid to capitalize on what is hoped to the be multi-trillion dollar tokenization market – a sector that has reportedly been called “the next evolution in markets” by the $10+ trillion, BlackRock.
“We will unveil our roadmap with the launch of the TokenFi website on the 27th of October, 2023. However, we assure you that several TokenFi products are in advanced development on testnet and are due to go live in Q4 2023”, reads the post
Floki’s New Token
The TokenFi platform is accompanied by the much-anticipated $TOKEN, which Floki hopes will “eventually become the foremost tokenization platform in the world”.
Trading of TOKEN is set to begin on Uniswap and Pancakeswap on October 27 at 3pm UTC, and the asset’s supply will be split evenly across Ethereum mainnet and BNB Chain, with a full 56% of the supply distributed to FLOKI-stakers over a four-year period.
It is yet to be determined how the launch of TOKEN will proceed in practice, however, Floki has already unveiled some of the asset’s tokenomic elements:
- Token name: TokenFi
- Token Ticker: TOKEN
- Total supply: 10 billion tokens split across BSC and ETH (5 billion tokens on each chain).
- Launch market cap: $50,000 circulating and $500,000 diluted market cap. –
- Industry targeted: Tokenization, Real World Assets, Launchpad.
An initial 10% token supply will be added to Liquidity Pools on Uniswap and PancakeSwap to provide public liquidity and allow interested parties to trade.
For more details on the TOKEN asset, see Floki’s original post.
A Barrage of Announcements
While some projects have gone quiet throughout recent bearish conditions that have dominated the cryptocurrency market since 2022, Floki is not among them, with ecosystem updates coming especially thick and fast in recent weeks – throughout the month of ‘Floktober’.
The widespread memecoin has, just yesterday, unveiled a partnership with World Table Tennis that may see the brand exposed to as many as 120 million viewers.
