The development team behind the Floki dog-themed meme (FLOKI) announces plans to launch a new exchange-traded product (ETP).
In a new thread on social media platform said she worked closely with a respected asset manager to create a FLOKI-based ETP for European inventors, scheduled to launch in the first quarter of 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 said the ETP is already at an advanced stage and will become tradable on the SIX Swiss Exchange, Switzerland’s largest stock exchange, as early as next year and become the second coin in the world with a live ETP.
“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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