Floki Inu, a token that was actually created after Elon Musk's Tweet in which he wrote
"My Shiba Inu will be named Floki".
Since then, there have been many meme tokens with this, or a similar name, but only one
has been so successful.
The Floki token has over 250,000 followers on its Twitter account and has a really big
fan base who think Floki has a chance to become the next Doge Coin or Shiba Inu.
I'm Garry, this is Olga and it's nice to see you in the next video on our OG Crypto channel!
The owners of the Floki token are constantly trying to develop it by, for example, buying
advertisements so that more people will know about the project, but this also shows the
strength of its community.
The Floki token has really many functions to discuss, but first we will tell you what
it really is and you can find out from the Floki.com website.
Floki Inu describes itself as the new community-owned meme coin.
The description of the coin on their website reads quote Floki Inu is one brave puppy a
new crypto coinbirthed by fans and members of the Shiba Inu community.
Floki Inu is Elon Musk's very own shiba inu and he's hungry for outer space treats.
He's hyper deflationary and built to reward you so more Floki inu coins are added to your
wallet with each transaction.
The online community of the project is known as the Floki Vikings.
It has been designed to be a deflationary token which rewards you simply for holding.
A four percent reward are distributed to Floki holders on the BSC and ETH blockchains whenever
anyone swaps tokens on a crypto exchange.
The reward percentages are not final and many change depending on future upgrades.
All you have to do is hold your floki inu tokens in your wallet, and reflections are
automatically added to your wallet - it's that easy.
The statistics also claims that Floki inu has a total circulating supply of 10 trillion
Floki across the ETH and BSC chain combined.
The price of Floki was worth less than one cent making many people blame Musk for investing
their money in it only to see it no longer rise.
But then again on the third day of october Musk tweeted about his floki puppy on a tesla
and the cryptocurrency specifically named after the puppy floki jumped drastically and
went for another all-time high of 0.00007477 dollars with Musk's tweet.
Floki inu was originally launched on the Ethereum blockchain.
However since its inception Floki inu brought Binance Smart Chain to the Floki inu ecosystem
by creating a liquidity pool on PancakeSwap.
This made Floki Inu a multi-chain protocol feature for an ETH, BSC bridge with a one
is to one swap for Floki inu holders moves seamlessly between ecosystems.
The Floki inu token is also hyper deflationary which means that an increase in the size of
the burn wallet also increases their reflationary rewards for Floki holders.
Unlike the majority of meme tokens floki offers real world utility.
It can be used to purchase items from 1500 plus stores through its partnership with CryptoCart.
Floki holders can also pay for physical goods on the xcore platform.
Other utilities in the future will include multiple features like buying NFTs, Gaming
and paying for services and goods.
Every Floki trade charges a small fee that goes directly to the marketing and development
teams of the project.
These marketing funds will be used to onboard influencers pay for donations while the funds
towards the development team will contribute to arts new updates in the Floki inu ecosystem.
The project has a monthly marketing budget of over 2 million dollars which allows it
to run aggressive marketing campaigns like locking down london underground, having 300
buses in london feature the floki logo for three weeks, locking down times square for
three and a half months and more.
Perhaps the biggest reason most cryptoenthusiasts have Floki in their portfolio today is because
of Elon Musk.
The biggest spikes that Floki inu has experienced so far are due to his tweets.
Floki on the other hand has also invaded the NFT world and its portal can possibly attract
the attention of NFT enthusiasts which can probably take the price of Floki inu to all-time
highs.
Now let's talk about how you can purchase Floki tokens.
It's very simple, and there are several ways to do it.
You can use a decentralized exchange such as UniSwap, or PancakeSwap.
We will show you how to do this on the PancakeSwap exchange because there are much lower transaction
fees.
When you go to the Floki.com website, you will find a "Buy on Pancake Swap" button at
the top.
You will then be taken to the exchange.
You need to import tokens into your wallet and link your wallet, preferably Metamask.
Now you can exchange your tokens, for example BNB for Floki.
However, there is an even better way by which you can bypass such large transaction fees.
You can use the centralized AscendEX exchange where Floki tokens are available for trading
since a few days.
You will find a link to the AscendEX exchange in the description of this video.
Do you already have your Floki inu tokens?
If not then are you planning on buying it?
Let us know your thoughts about this new dog cryptocurrency on the comment section down
below.
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Thank you so much for watching and see you in the next video, bye!