FLOKI is poised to become the second memecoin to launch an exchange-traded product after Dogecoin, after the overwhelming vote of the Floki DAO that approved the allocation of tokens for ETP liquidity. The proposal garnered 332.7 billion tokens (99.9%) voting in favor, 328.9 million tokens abstaining, and no dissents – a result the team described as the first time a DAO proposal passed without a single dissenting vote.
The proposal, which was the first time a Floki DAO proposal was approved without a single dissenting vote, will result in a portion of the 16,310,285,772.6 FLOKI tokens currently being used in a “community buyout wallet” to provide liquidity. Floki ETP while the rest is burnt announcement From the team emphasized through X.
FLOKI aims to mirror Dogecoin
Community members consider this a landmark event, as the Floki ETP is set to launch as early as the first quarter of 2025 in collaboration with what the team calls “a respected asset manager and an ETP issuer.” According to Floki's representatives, it will be listed Exchange SIX Switzerlandis recognized as one of the largest stock exchanges in Europe, thus raising FLOKI's profile in traditional financial markets.
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Currently, Dogecoin is the only other memecoin left with a live ETP, although that product is traded on Sweden's Spotlight exchange. The team notes that listing on the Swiss exchange has the potential to attract wider attention from institutional and retail investors seeking regular access to crypto assets.
“Once activated, the Floki ETP will allow institutional investors, regulated entities and retail investors to gain exposure to FLOKI in a regulated manner. This is a huge move that is almost unprecedented in the 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. DogecoinThe DAO proposal stated.
While many of the details are being kept under wraps due to non-disclosure agreements, the team also revealed that any tokens allocated for liquidity will remain owned by Floki itself, meaning they can be redeemed “if third-party liquidity is available.” Coffee in ETP” later picked up.
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The news comes after a recent meeting of the Commodity Futures Trading Commission's Global Markets Advisory Committee, where memecoin was used as a “case study of a utility token.” Observers have noted that any regulatory attention — especially of this kind — could boost a token's credibility in a market sensitive to signals of compliance.
The DAO-centric approach remains the cornerstone of the token's philosophy, with frequent community votes and suggestions shaping the project's direction. Members continuously support initiatives focused on increasing awareness of Memcoin, which the team says aims to be “the most popular and widely used digital currency in the world.”
The reaction from the wider cryptocurrency community has also been enthusiastic. Crypto analyst Shelby, who has a huge following, noted Via X: “Major Milestone – FLOKI Makes History as Possible 2nd ETP! A clear sign of institutional acceptance while maintaining decentralized roots. No DOGE, no SHIBBut FLOKI is the leader in bridging TradFi and DeFi.
At press time, FLOKI was trading at $0.0001798. Therefore, Memcoin has recovered the 200-day EMA, an important line often referred to as a “bull line.” However, memecoin is still trading below the main resistance area between $0.000205 and $0.000215 (shown in red on the chart). A retracement of this zone could open the gates for a fresh move to the annual high of $0.000349 from June.
Featured image created with DALL.E, chart from TradingView.com
