The development team behind dog-themed meme asset Floki (FLOKI) announces plans to launch a new exchange-traded product (ETP).
In a new thread on social media platform next year.
“We have been actively working with a respected asset manager and ETP issuer to launch a Floki ETP for some time. After months of due diligence and hard work, we were told that the Floki ETP was on track to go live in early Q1 2025. This proposal is for the Floki DAO (autonomous organization decentralized) approves liquidity for the Floki ETP! »
An ETP allows investors to gain exposure to specific assets without needing to actually purchase them.
In the proposal, the Floki team indicates that the ETP is already at an advanced stage and that it will become tradable on the SIX Swiss Exchange, the largest exchange in Switzerland, as early as next year and will become the second largest coin to the world with a live performance. FTE.
“When it goes live, the Floki ETP will allow institutional investors, regulated entities and retail investors to gain exposure to FLOKI in a regulated manner.
This is a big, almost unprecedented step forward in this space, as Dogecoin is currently the only memecoin in the WORLD, with a live ETP, and Floki could become the next memecoin with an ETP in addition to Dogecoin.
The proposal also includes provisions for burning FLOKI tokens as well as providing liquidity to the ETP.
“The purpose of this DAO proposal is to seek approval from the Floki DAO to provide liquidity to the ETP…
We currently hold 16,310,285,772.6 FLOKI tokens in (a crypto wallet) and propose to use a portion of them to provide liquidity to the ETP while burning the rest on the day the ETP launches.
FLOKI is trading at $0.000177 at the time of writing, a fractional increase over the past 24 hours.
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