The event crew behind dog-themed meme asset Floki (FLOKI) is asserting a plan to launch a brand new exchange-traded product (ETP).
In a brand new thread on the social media platform X, the venture says it has been working intently with a revered asset supervisor to create a FLOKI-based ETP for European inventors, set to launch in Q1 of subsequent 12 months.
“We’ve been actively working with a revered asset supervisor and an ETP issuer to launch a Floki ETP for fairly some time now. After months of due diligence and painstaking effort, we’ve been advised that the Floki ETP is on observe to go dwell in early Q1, 2025. This proposal is to have the Floki DAO (decentralized autonomous group) approve liquidity for the Floki ETP!”
An ETP permits traders to show themselves to particular property with out the necessity to truly buy them.
Within the proposal, the Floki crew says the ETP is already in its superior levels and can change into tradable on the SIX Swiss Change, the most important inventory change in Switzerland, as quickly as subsequent 12 months and change into the second meme coin on the planet with a dwell ETP.
“When it goes dwell, the Floki ETP will permit institutional traders, regulated entities and retail traders to get publicity to FLOKI in a regulated approach.
It is a massive transfer that’s nearly unprecedented on this area, as a result of Dogecoin is at present the one memecoin within the WORLD, with a dwell ETP, and Floki might change into the following memecoin with an ETP in addition to Dogecoin.”
The proposal additionally consists of provisions for burning FLOKI tokens in addition to offering liquidity for the ETP.
“The aim of this DAO proposal is to hunt approval from the Floki DAO for offering liquidity to the ETP…
We at present maintain 16,310,285,772.6 FLOKI tokens in [a crypto wallet] and suggest utilizing a portion of them to provision liquidity for the ETP whereas burning the rest on the day the ETP launches.”
FLOKI is buying and selling for $0.000177 at time of writing, a fractional improve over the past 24 hours.
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