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Floki DAO Proposes Launching ETP in Europe to become the second Memecoin with an Exchange-Traded Product in Europe after DOGE.
Floki DAO Proposes Launch of Europe’s Second Memecoin ETP
Floki DAO, the decentralized autonomous organization behind the memecoin FLOKI, has announced plans to introduce an exchange-traded product (ETP) in Europe. This initiative aims to provide institutional and retail investors with regulated access to the FLOKI token, marking a significant milestone in the cryptocurrency’s evolution.
Proposal Details
The proposal involves allocating 16 billion FLOKI tokens, equivalent to approximately $2.8 million at current market prices, from the treasury to supply liquidity for the ETP. The community vote on this proposal commenced on December 25 and is scheduled to conclude on December 27. As of now, the proposal has received unanimous support, indicating strong community backing for the initiative.
ETP Launch Timeline
Pending approval, the Floki ETP will debut on the SIX Swiss Exchange, Switzerland’s largest stock exchange and the third-largest in Europe, in early Q1 2025. This development would position FLOKI as the second memecoin to offer an institutional-grade investment product in Europe, following Dogecoin’s ETP launch.
Strategic Significance
The introduction of an ETP is a strategic move to bridge the gap between traditional finance and the cryptocurrency market. By offering a regulated investment vehicle, Floki DAO aims to attract a broader spectrum of investors, including those who may be hesitant to engage with unregulated digital assets. This initiative reflects a growing trend of legitimizing memecoins within the financial industry.
Recent Developments
This proposal follows Floki‘s recent collaboration with Mastercard to introduce a debit card supporting multiple cryptocurrencies, including FLOKI, Bitcoin, and USDT, across 31 European countries. Additionally, Floki has launched the University of Floki, an educational platform designed to simplify cryptocurrency and blockchain concepts for users at all levels.
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Conclusion: Floki DAO Proposes Launching ETP in Europe
Floki DAO’s proposal to launch a European ETP signifies a pivotal step in the integration of memecoins into mainstream financial markets. By providing regulated access to the FLOKI token, the organization aims to enhance the token’s legitimacy and appeal among institutional and retail investors.
