- Floki staking program sees enthusiastic participation, locking in $54.4 million worth of tokens in the inaugural week.
- A substantial chunk of staked tokens is set for four-year holding, demonstrating unwavering confidence in Floki Future.
- Over 50% of tokens are reserved for Floki stakers, promising an APY of up to 160% over four years, propelling TokenFi into a booming industry.
In a groundbreaking move, Floki enthusiasts have demonstrated their confidence in the cryptocurrency by staking an impressive $54.4 million worth of tokens within the first week of the staking program’s launch. This substantial sum accounts for 17% of the Floki token supply, or nearly 18% of the circulating tokens.
A recent post by Floki X account highlighted the remarkable commitment of the participants in the development. A significant portion of the tokens have been staked for up to four years, indicating that most of them will not be circulating for the next four years unless there are unforeseen circumstances. This demonstrates a strong vote of confidence in the project.
FLOKI STAKING TVL HITS $54.4 MILLION— FLOKI (@RealFlokiInu) November 4, 2023
$54.4 million worth of $FLOKI tokens have been locked in the #Floki staking program in the first week of staking going live! 🔥
That is 17% of the total $FLOKI supply, or almost 18% of circulating supply.
It is worth highlighting that the… pic.twitter.com/FZYZbfFGri
Surprisingly, over half of TokenFi’s tokens are reserved for FLOKI stakers. By holding Floki tokens, stakers can earn TOKENs over four years, with an enticing Annual Percentage Yield (APY) of up to 160%. TokenFi is a pioneering tokenization platform that aims to enter the rapidly expanding tokenization industry.
Market analysts have expressed optimism, with Crypto Tony remarking in a X post that Floki’s recent performance has been “incredible.” Despite experiencing a 29% pullback from its recent high, FLOKI is still up by 82% from October’s low. While no specific catalyst for the recent pullback has been identified, it is suspected to be a result of profit-taking by speculative investors.
Nonetheless, the future of FLOKI appears promising, especially with the development team actively expanding the token’s ecosystem. As of writing, the price of FLOKI stands at $0.00003137, reflecting a 6.53% increase in the past 24 hours and a 16.64% decline over the previous week. The token boasts a market cap of $296,033,999, making it a significant player in the crypto space with an exciting journey ahead.
The Floki community’s investors exhibit a high level of optimism, as evidenced by the steady reading of 68 on the Fear & Greed Index, indicating a notable presence of greed within their ranks. At present, 9.49 trillion FLOKI tokens are in circulation, representing less than half of the total allocation of 20.00 trillion Floki tokens.
For individuals keen on staking, their first action involves acquiring FLOKI tokens. These tokens are readily available on prominent centralized exchanges (CEXs) like Binance, OKX, KuCoin, Bybit, and Gate. Afterward, they can transfer the acquired tokens to a compatible wallet. Alternatively, FLOKI can be obtained from decentralized exchanges (DEXs) such as Uniswap and PancakeSwap.