Floki, a meme-based project, has begun working on the launch of its popular token, FLOKI, as an exchange-traded product (ETP). In this context, Floki developers, who are collaborating with an unidentified asset manager, aim to offer ETP to investors in Europe in early 2024.
ETP Approval Process and Community Voting
Floki developers plan to first seek approval from the Floki DAO community for the launch of the new investment product. In this context, the community was requested to approve the FLOKI token allocation required to provide early liquidity. Voting will cover a 48-hour period and end at 11:00 UTC on December 27. If the vote is positive, a certain amount of FLOKI tokens will be allocated for ETP from the treasury wallet under the control of Floki DAO.
The treasury wallet has an accumulation of 16 billion FLOKI tokens, which were previously purchased from the open market as a result of community voting. The allocated tokens will remain the property of Floki developers and can be withdrawn again if sufficient liquidity is provided. Acceptance of this proposal by the community could enable the project to youthfully support new investment opportunities in the European market.
FLOKI Token May Be Listed on SIX Swiss Exchange
According to Floki developers, ETP, which is currently in an advanced stage, is preparing to be traded on SIX Swiss Exchange, the third largest stock exchange in Europe. “The Floki ETP will provide regulated access to the FLOKI token for institutional investors, regulated entities and individual investors,” one of the project developers explained.
However, details about ETP’s fund structure, opening prices and corporate partners cannot be shared with the public due to confidentiality agreements. Despite this, developers expect this step, which offers high potential to investors, to increase the liquidity of the token. FLOKI token displays a positive outlook in the market, gaining 1.1% in value in the last 24 hours.
If the Floki ETP is launched, this product could attract attention as a unique meme token investment instrument in the European market. This is also expected to provide a significant opportunity to establish stronger ties with institutional investors and increase the market position of the Floki token.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
