Floki staking crosses $64 mln - Will it bring down the infamous volatility?



Floki Token: Staking, Potential, and Future

Are you interested in the latest news from the cryptocurrency market? If so, you may have heard about the recent surge in popularity of the meme coin project Floki (FLOKI). Let’s dive into the details!

### Floki Staking Becomes a Rage

In just two weeks, Floki’s staking program has drawn in over $64 million worth of FLOKI tokens. This impressive achievement amounts to nearly 21% of the crypto’s circulating supply. The rush to stake coins was fueled by Floki’s new asset tokenization platform, TokenFi (TOKEN). This sister project was designed to tap into the growing industry of representing real-world assets as tokens on a blockchain.

Users have the option to stake their FLOKI tokens for various periods, ranging from 3 to 48 months. The longer the staking duration, the higher the annual percentage yield (APY) earned. For example, users staking for a year can earn 2x the invested amount as rewards, which doubles to 4x if the staking period is four years.

### Good Days Coming for FLOKI?

The TokenFi factor has the potential to bring a significant portion of FLOKI’s liquid supply into staking. This could help reduce the asset’s volatility, a common issue associated with meme coins. Additionally, this presents a new utility for FLOKI, with various products such as NFT-based games, NFT collections, and even a crypto debit card.

Contrary to its competition, such as Pepe (PEPE), with a higher market cap but no intrinsic value or future roadmap, FLOKI seems to have a utility-oriented approach towards adoption. It will be interesting to see if FLOKI manages to outperform PEPE in the trading arena.

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At the time of writing, FLOKI was trading at $0.00003028, up 76% over the past month according to data from CoinMarketCap.

If you’re following the cryptocurrency market and want to stay updated on the latest, Floki is definitely a project to keep an eye on. With its innovative staking program and utility-oriented approach, FLOKI seems to be carving out a unique path in the world of meme coins.



### News source: ambcrypto.com

By Team