Floki DAO Votes Unanimously on Providing Liquidity for Floki ETP

The Floki DAO, which manages the popular memecoin Floki (FLOKI), has unanimously decided to use a portion of the 16.3 billion FLOKI tokens from the community buyback wallet as liquidity for the upcoming Floki Exchange-Traded Product (ETP).

The Floki ETP, scheduled to go live in the first quarter of 2025, will offer traditional financial investors in Europe the opportunity to gain exposure to the memecoin, which according to CoinMarketCap is the 66th largest cryptocurrency by market capitalization.

Following the community’s approval of the proposal, a Floki spokesperson stated that the ETP listing represents a step forward for the legitimacy of the community-driven memecoin:

“The Floki ETP will go live on the SIX Swiss Exchange, the largest stock exchange in Switzerland and the third largest in Europe, in an almost unprecedented step for the legitimacy of memecoin.”

2024: The year of the memecoin

2024 was a remarkable year for memecoins, according to an analysis by CoinGecko, where they were the second-best performing crypto narrative. They provided investors with an average return of about 2,185%, only surpassed by artificial intelligence with 2,939%.

Another CoinGecko study showed that memecoins received the most attention among crypto investors in 2024, with about 31% of total investor interest. In October 2024, Google search interest for memecoins even surpassed that for Bitcoin, with a score of 77 out of 100 compared to 33 for Bitcoin.

The turnover of decentralized applications (DApps) on Solana reached a peak of $365 million in November 2024, primarily driven by Pump.fun, a platform for launching memecoins. According to Syndica Research, this became the first Solana-based platform to exceed a monthly turnover of $100 million.

Debate over value vs. speculation

However, memecoins have also had a polarizing effect within the crypto industry, with a growing debate about the value of these assets versus pure market speculation. Changpeng “CZ” Zhao, the former CEO of Binance, stated the following in November 2024 on X here:

“I’m not against memes, but memecoins are now getting ‘a bit’ weird. Let’s build real applications using blockchain.”

These comments reflect a larger discussion about the future direction and utility of memecoins within the broader blockchain and crypto ecosystems.