We are very excited to share that FLOKI Coin (Floki), is now listed on Coinhako.
What is FLOKI?
Launched in September 2021, FLOKI is a memecoin based on Elon Musk's Tweet that says “My Shiba Inu will be named Floki”.
Following its success and popularity since launch, FLOKI has outgrown its original purpose as a “just-for-fun” cryptocurrency into a fully-fledged Web3 ecosystem that comprises of decentralised finance (DeFi), non-fungible tokens (NFTs), the Metaverse and more.
At the time of this writing, FLOKI currently sits at a market capitalisation of just over US$1.5 billion,placing it as the 65th largest cryptocurrency in terms of market cap. The crypto has also seen a gain of over 400% year-to-date (YTD) in 2024.
View live FLOKI prices
How does FLOKI work?
Now referred to as “The People’s Cryptocurrency” on the FLOKI website, FLOKI is a multi-chain token that is built on both Ethereum and Binance Smart Chain (BSC) blockchains. It is ERC-20 and BEP-20 compliant and the tokens can be bridged between both chains.
There is also a 3% tax system that is imposed on on-chain token trades, but not for bridging between the chains. These funds are directed to the Floki Treasury, managed by the Floki DAO, for ecosystem development. FLOKI owners that stake their tokens gain voting rights that help to set the direction of the FLOKI ecosystem.
Why does FLOKI stand out?
The FLOKI community has experienced rapid growth thanks to the growth in popularity of memecoins on social media and the Web3 ecosystem, and a robust community that constantly raises awareness about the token to draw in new supporters.
There is also significant following on popular platforms like Twitter, where FLOKI has amassed over 530,000 followers and Telegram with over 41,000 members., Active participation from FLOKI fans can also be observed across other social media channels like, Reddit, Discord and more.
The FLOKI roadmap outlines upcoming initiatives such as a Floki debit, University of Floki, and a migration to mainnet, which should further expand the Floki ecosystem. This mesh of driving education about Floki through the university and improving the utility of the token for the public are strategic moves that will be crucial in establishing Floki as a prominent player in the memecoin sector as its ecosystem grows and evolves.
What is a Memecoin?
A memecoin is a type of cryptocurrency that is inspired by or based on internet memes, popular culture references, or jokes. Memecoins often have playful or humorous branding and marketing strategies, leveraging the viral nature of memes to attract attention and build a community of supporters. These coins may also serve as a form of digital collectibles, with unique designs or themes that appeal to meme enthusiasts.
Some examples of popular Memecoins that are already on Coinhako include:
1. Pepe (PEPE): A cryptocurrency which pays homage to the well-known Pepe the Frog meme. It has served in popularity since its introduction in April 2023 and sits at a market capitalization of over $2.9 billion at this time of writing.
2. Dogecoin (DOGE): Originally started as a joke based on the popular "Doge" meme featuring a Shiba Inu dog, Dogecoin has gained a strong following and community support over the years.
3. Shiba Inu (SHIB): Inspired by Dogecoin, Shiba Inu is another meme-based cryptocurrency that features the same breed of dog in its branding and marketing.
What can you do with Flok on Coinhako?
FLOKI will be available for users to trade across all swap pairs on Coinhako.
To gain access to any of these trading pairs, you can either:
- Fund your SGD wallet on Coinhako instantly with PayNow (or any other supported payment methods)
- Purchase FLOKI instantly with Visa / Mastercard
Risk Warning on Digital Payment Token Services
Hako Technology Pte Ltd ("Coinhako") is licensed to provide digital payment token services under the Payment Services Act 2019 (No. 2 of 2019).
The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of a digital payment token ("DPT") service provider.
Before you pay your DPT service provider any money or DPT, you should be aware of the following.
- Your DPT service provider is licensed by MAS to provide DPT services. Please note that this does not mean you will be able to recover all the money or DPTs you paid to your DPT service provider if your DPT service provider’s business fails.
- You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by your DPT service provider.
- You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
- You should be aware that your DPT service provider, as part of its licence to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.
Visit: Coinhako.com/risk-disclosure for more information.
