Floki Develops Exchange-Traded Product in European Market, Expected to List in Q1 Next Year
Summary
- Floki announced that it is developing an exchange-traded product, ETF, in the European market.
- Floki's lead developer stated that they are working on launching the ETP product in collaboration with asset managers and ETP issuers.
- The Floki DAO community is conducting a vote to provide early liquidity necessary for the product launch.
Floki (FLOKI), which debuted in the market as a representative meme coin alongside Dogecoin (DOGE) and declared a transition to utility, announced that it is developing an exchange-traded product (ETF) tracking its token in the European market.
According to a report by CoinDesk on the 25th (local time), Floki's lead developer B stated, "We have been working for a long time to launch the Floki ETP product in collaboration with asset managers and ETP issuers active in the European market."
The developers have proposed a vote to the Floki DAO community to provide early liquidity for the product launch. The vote will be conducted for 48 hours and will end at 11:00 (UTC) on December 27th. If the proposal is approved, FLOKI tokens will remain as Floki assets to provide liquidity to the ETP, and once sufficient third-party liquidity is supplied to the ETP product, they can be withdrawn.
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