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In this article, we explore the recent updates and milestones achieved by Floki's new tokenization platform, TokenFi, in less than two weeks.

Summary

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  • Floki's TokenFi, a tokenization platform, has garnered significant attention in the crypto community, with a Total Value Locked (TVL) exceeding $56 million in less than two weeks.
  • TokenFi's native token, TOKEN, has over 17,000 holders across Ethereum and BNB Chain and has secured listings on major exchanges like Bybit, KuCoin, Gate, MEXC, BingX, and Binance futures.
  • TokenFi has formed strategic partnerships with DEXTools and DWF Labs to increase its exposure and enhance liquidity in the crypto market.

In a bid to capitalize on the potential multi-trillion dollar tokenization market, popular memecoin platform Floki recently announced the launch of its own tokenization platform TokenFi alongside the release of its novel reward asset TOKEN. Floki’s TokenFi aims to simplify the crypto and asset tokenization process, eventually becoming the leading tokenization platform in the globe. 

Notably, BlackRock, the world's largest institutional investor managing a staggering $10 trillion in assets, has shown confidence in the tokenization industry, hailing it as "the next evolution in markets."

Since its launch on October 27, Floki's TokenFi has swiftly garnered the attention of the crypto community, amassing a Total Value Locked (TVL) exceeding $56 million in less than two weeks. The platform's launch has ushered in a flurry of noteworthy achievements and announcements, which this article will delve into. 

TVL Soars Above $56 Million

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As of writing, over $56 million (about 1.9 trillion FLOKI tokens) have been locked in the staking program, representing over 17% of the total FLOKI supply. According to FLOKI, “majority of these tokens are being staked for as long as 4 years.” This means that most tokens are expected to be out of circulation in the coming years as traders continue to stake their $FLOKI for high yields of up to 120%.

Source: Floki Staking 

It is worth noting that FLOKI has allocated over 50% of the total supply of its new tokenization platform’s “TOKEN” to FLOKI stakers, attracting a large number of stakers in a short while. Stakers can choose from varying durations, including 3 months, 1 year, 2 years, and 4 years. 

The Annual Percentage Yield (APY) on the staking platform varies based on several factors. Currently, the staking APY on Ethereum and BNB Chain respectively are:

ETH

3 Months: 36.19%

1 Year: 57.90%

2 Years: 86.85%

4 Years: 115.79%

BNB

3 Months: 37.26%

1 Year: 59.62%

2 Years: 89.44%

4 Years: 119.25%

Token Holders

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TokenFi’s TOKEN currently boasts over 17,000 holders across Ethereum and BNB Chain, per data from BscScan and Etherscan. 

Exchange Listings

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On November 2, FLOKI unveiled Bybit as their inaugural major exchange partner for TOKEN. Bybit is expected to grant TOKEN access to its massive user base of over 15 million individuals, accelerating the adoption of TokenFi’s native token. Additionally, TOKEN has secured listings on other prominent exchanges, including KuCoin, Gate, MEXC, BingX, and Binance futures as well as price-tracking websites CoinMarketCap and Coingecko. 

TokenFi X DEXTools

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Teaming up with DEXTools, a decentralized token data analytics platform, TokenFi is set to unveil its offerings to over 140 million annual users across 80 blockchains in a strategic marketing collaboration that promises to significantly increase the platform’s exposure in the crypto world.

TokenFi X DWF Labs

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TokenFi (TOKEN) has also announced a strategic partnership with market maker and Web3 investment company DWF Labs, making DWF Labs its primary liquidity provider on exchanges. Driven by DWF Labs' belief in the potential of the trillion-dollar tokenization market and the burgeoning Floki Ecosystem, the collaboration will ensure seamless access and enhanced liquidity for $TOKEN. 

TOKENFI PARTNERS WITH DWF LABS AS ITS FIRST MAJOR INSTITUTIONAL PARTNER AND MARKET MAKER#TokenFi / $TOKEN has partnered strategically with DWF Labs, a digital asset market maker and multi-stage Web3 investment firm.

This partnership is based on DWF Labs’ strong belief in the… pic.twitter.com/AvOTxDSM2q

— TokenFi (@tokenfi) November 7, 2023

Furthermore, DWF Labs' integration into the TokenFi Connect sector marks a significant step in bolstering TokenFi's institutional presence and solidifying DWF Labs' commitment to TokenFi's success.

CertiK Audit 

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TokenFi's commitment to security is evident in its recent audit by leading security platform Certik. Certik has audited the $TOKEN smart contracts and will continue auditing all TokenFi product contracts in the future, according to the team. 

Conclusion

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In a post on X (formerly Twitter), TokenFi announced that it would release its roadmap on November 10, 2023. Floki is strategically positioning its new platform TokenFi to be at the forefront of the tokenization industry - one which it strongly believes is projected to be a $16 trillion industry by 2030. 

As of writing, TOKEN currently stands at a market price of $0.0294, shedding 13% in the past 24 hours, accompanied by a market capitalization of $29,395,662, according to data from CoinMarketCap. FLOKI, on the other hand, is trading at $0.00003075, having gained 3.66% over a 24-hour period. 

Sources


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