What is Floki Inu is it more than a musk-inspired meme coin that is a big question that a lot of individuals are asking today. So in this article, we will explain everything about FOLKI Inu.
What is Floki?
In June 2021 Elon Musk tweeted that he would be naming his pet Shiva Floki, this led to the birth of the FOLKI coin. Floki Inu may have had its beginning as a dog memed currency much like Dodge Coin, but a closer look reveals that is so much more than that. Loki follower is in the footsteps of Sheba Inu in giving utilities and even charity to its ecosystem. Its creators see it as a movement rather than just a meme coin. It holds a vision of building schools in less developed countries and has already partnered with the million Garden movement. A gardening campaign founded by Elon musk’s brother Kimball musk. The ingenious combination of the movement and charitable action has earned FOLKI Inu recognition by NASDAQ as one of the best metaverse currencies to buy in 2022.
Floki Inu is an Ethereum and a Binance-compliant token this means that it’s a multi-chain coin that runs on both Ethereum and the Binance smart chain blockchains. Users can easily perform a one-to-one Folki swap on the Ethereum Binance bridge via the atomic swap. Interestingly guys there is a three-person tax on buying and selling the Floki token which doesn’t apply to the bridging of the tokens between the two networks. Floki Inu maintains that the tax goes to the Folki Inu treasury. The treasury funds are used to develop their ecosystems as well as promote Floki for The Wider adoption. The white paper actually does highlight this in detail, however that the tax is gonna be lowered once Floki Inu has mass sufficient funds there is no specific mention of their target or by how much the fee is actually going to be lowered.
Key Projects of Floki
The first one is Valhalla with the NFT gaming and metaverse all the rage it’s no surprise that the Floki has its own NFT metaverse game called Valhalla the heaven for Vikings when they die. Valhalla is a player-earned game with rewards distributed based on participation. The Gamers have full ownership of FLOKI tokens earned in the game. FLOKI tokens serve as the in-game currencies and can be used to purchase Assets in the game.
The second key project of Floki Inu is DeFi, through the use of smart contracts Floki Inu has integrated chain link price feeds into its Network. This has enabled Floki Inu to offer Financial Services via the 2 DeFi platforms inverse finance and the brand Bridge. The Floki pool in inverse Finance allows users to stake their Floki tokens and earn interest or to use their tokens as collateral to borrow other cryptocurrencies, such as Ethereum and WBTC. The Floki Inu pool in the brand Bridge protects users against the risks of hyper volatility and inflation in the crypto space by letting them lock their Floki token in a senior or Junior Pool.
The pools are timed in a weekly manner meaning investors who lock their Floki tokens won’t be able to retrieve them within the week. Users who invest in the senior pool are Ensured the downside protection of up to 35 percent per week if the price of the Floki Inu Falls, but their gains will also be lower if the price increases pieces. On the other hand investors in the junior pool gets greater leveraged gain if the price of FLOKI Inu Rises but are also exposed to Greater losses if it falls.
The third key project is Floki Inu places with the Boom in the NFTs Folki Inu intends to expand beyond Valhalla with that NFT add merchandise Marketplace. The Floki Inu places NFD and merchandise marketplaces would Foster the buying and selling of NFTs and other digital products. Beyond entering the NFT space this move looks to establish Floki Inu as a payment alternative to bitcoin, Dodge Coin, and even the US dollar.
The fourth key project is Floki University. Floki Inu also aims to educate the ever-growing audience on crypto through uniquely constructed metaverse University, while boasting awareness of the Floki Inu ecosystem most of the curriculum will be free to all. To drive the learning of crypto worldwide certain specialty courses might require the use of Floki tokens.
One of the things that’s very interesting is the fact the way it has been moving for the past 24 hours now clearly visible there has been a drastic increase in Floki Inu and the reason for the increase in the token is due to the fact that they’ve implemented and executed effective strategy in order to stabilize the price but once we look at the seven day we can clearly see there has been a drastic decrease of what is happening in the NFT space and the crypto space for the past few months now. And gradually it’s been decreasing at a very high stage. If you visit its charts for the three months you can clearly see a stabilization of the price comparison of one month over here but the three months you’ll see at the back over here in July it was decreasing but it has stabilized at this moment in time but the interesting things which I want to show you guys is the one year. If you look at the one year there was a drastic increase in on this point then there’s been a gradual decrease and with stabilization that it’s reached right now but the interesting thing is what is happening in the last 24 hours where there is a gradual increase in the price of the token and the reason for this is because they have now implemented and executed effective and efficient plans to make the floating coin as one of the major coins in the ecosystem.
Floki Inu has proven time and again that it’s more than just a meme coin as a token Floki Inu can already be used not just within the Floki Inu ecosystem but even out in the real world is a charitable movement’s strong partnership with leading crypto firms and markets and extraordinary marketing efforts all accentuate its determination to be a household currency all around the world. As its projects mature and the utility of the Floki Inu grows it may just have the potential to outshine all the other dog-themed coins on the market. So guys do let us know in the comment section below what your thoughts are share this article with your friends and with your families and remember we’re not financial advisors so please make sure to do your own due diligence before investing and never invest more than you’re willing to lose.