Floki Price Surges: $10M Investment Fuels Staking Program, Compliance Efforts

DWF Labs, a key player in digital asset market making and Web3 investments, is doubling down on FLOKI with a substantial $10 million token purchase. This move follows their initial $5 million investment in May 2023, underlining their strong belief in FLOKI’s potential to shake up the crypto world.

As a result, FLOKI surged to a 9-month high of $0.00005097.

Yet another good news for the industry. Read on for more details!

Committed to the Bull Run

DWF Labs has officially stated that the $10 million investment is aimed at strengthening the FLOKI ecosystem over the next two years in preparation for the anticipated crypto bull run. This commitment remains steadfast despite recent regulatory scrutiny from the Hong Kong Securities and Futures Commission (SFC) regarding FLOKI’s high-yield staking programs.

FLOKI, previously Floki Inu, has rebranded to shift towards decentralized finance (DeFi), mirroring a trend seen in meme coins like Shiba Inu shifting towards utility over memes. Despite this, such changes have faced criticism from figures like Coffeezilla, who warn investors about the potential risks when meme coins expand their roles in the crypto market.

What about Regulations?

Despite regulatory challenges, FLOKI is committed to compliance. Measures have been taken to limit participation from Hong Kong users in its staking programs, addressing concerns from SFC regulators. FLOKI’s innovative strategy involves rewarding its community by staking FLOKI tokens for TOKEN utility tokens on TokenFi, aiming to reduce token inflation and offer attractive APY rates.

Industry experts believe the DFW Labs partnership is crucial for FLOKI. It is expected to pave the way for FLOKI’s listing on major exchanges, connect with influential projects, and promote overall success. DFW Labs, in their announcement, emphasized the significance of this collaboration.

Frenzy Spreads Across the Globe

In parallel news, the memecoin craze is going global, and FLOKI is making waves in China. It has secured a spot on China’s top sports TV channels, reaching over 340 million viewers. This exposure cements FLOKI’s presence in the Chinese market. The FlokiFi Locker has achieved a record Total Value Locked (TVL) of $111 million, indicating widespread adoption.

Also Read: Top Memecoins to Buy Before Ethereum ETF Approval

Impressive metrics

Staked FLOKI tokens now total $105 million, constituting a significant portion of the token’s supply. With a surge of over 32% in the last 24 hours, FLOKI’s market cap is nearing $500 million, and trading volume has soared to $204 million. These numbers underscore FLOKI’s growing influence and market momentum.

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