Floki has revealed a remarkable milestone in staking, with a total value locked (TVL) of tokens reaching $137 million, effectively withdrawn from circulation. Participants have staked these tokens in the Floki Staking Program, surpassing the previous high of $105 million recorded less than 24 hours ago.
FLOKI STAKING TVL SURGES TO A NEW RECORD-HIGH OF $137 MILLION
Over $137 MILLION worth of FLOKI tokens have been staked in the #Floki staking program, greatly surpassing its previous all-time high of $105 million recorded less than 24 hours ago.
This constitutes 25% of the total… pic.twitter.com/0s1tB0Rxlk
— FLOKI (@RealFlokiInu) February 27, 2024
This development significantly bolsters the ecosystem’s fundamentals, as it removes nearly 25% of the total token supply, equating to roughly 26% of circulating tokens. With a significant portion taken out of circulation, it creates upward pressure on the token price. Additionally, stakers are rewarded with TOKEN in exchange for their FLOKI holdings.
Participants have committed to staking their holdings for up to 4 years, during which they will receive rewards. FLOKI staking is facilitated through the official Floki staking platform. Notably, Floki’s fundamentals now appear stronger compared to similar meme coins like PEPE, BONK, SHIB, and DOGE.
This development has propelled the price of FLOKI upwards to $0.00013242, marking a 37.9% surge in the last 2 days, and a remarkable 75.7% increase over the past 7 days, according to CoinGecko.
Looking ahead, the Floki team has announced an Ask Me Anything (AMA) session with the Core Team scheduled for March 4, 2024, at 11 a.m. UTC on their official Telegram channel. Community members are invited to submit their questions for consideration during the AMA.
We will be hosting an AMA with our Core team member 'B' to discuss all things #Floki / #TokenFi!
🗓: Monday, March 4th, 11AM UTC
📌: Floki's Official Telegram (https://t.co/ZLzCfV3mXU)Please leave your questions in the comments and some will be selected for the event.👇 pic.twitter.com/jNZ0lbSleN
— FLOKI (@RealFlokiInu) February 28, 2024
This development follows DWF Labs‘ commitment of a $10 million investment in the Floki ecosystem to fuel aggressive growth and market dominance. The investment involves acquiring Floki tokens to further support ecosystem development, building upon their ongoing partnership spanning over two years. Initially, DWF Labs invested $5 million in Floki tokens, aiming to boost ecosystem utility and marketing efforts.
DWF LABS TO PURCHASE $10,000,000 IN FLOKI TOKENS TO SUPPORT THE FLOKI ECOSYSTEM
DWF Labs will purchase $10,000,000 in $FLOKI tokens as part of their commitment towards supporting the #Floki Ecosystem.
FULL ANNOUNCEMENT: https://t.co/ZNTsiyqZzp pic.twitter.com/gBdx6w6ygO
— FLOKI (@RealFlokiInu) February 27, 2024
Their continued partnership emphasizes DWF Labs’ role in facilitating token listings on major exchanges, driving token adoption, and promoting the Floki ecosystem’s achievements.
Floki recently introduced Patch 0.22.0, featuring enhancements such as an updated minimap, ship customization options, a new clan island, and various quality-of-life improvements.
