As a crucial step towards transforming its image as more than just a meme coin, Floki Inu unveiled its cutting-edge tokenization platform, TokenFi, on October 27. Right after its launch, the newly launched platform created quite a buzz. This caused its native token of TokenFi, TOKEN, to surge nearly 60307% in less than a month, making it worth the attention of a crypto enthusiast like you.
That means it's time to re-wear your thinking caps to know this new project that is turning heads in the market and the field of innovation.
What is TokenFi?
TokenFi is a platform that gives its users all the required resources to tokenize an asset in a simplified way that does not involve any coding work. Doing so makes the extremely difficult, highly expensive, and slow tokenization process simple, quick, and affordable for those who wish to create new tokens.
Through TokenFi, anyone can effortlessly launch their new crypto tokens and tokenize their assets without much technical coding background and knowledge. With the support of the Floki community and an advanced tech setup, TokenFi represents a leap in both the Tokenization industry and the Floki ecosystem.
The potential of the Tokenization market to become $16 trillion by 2030 makes TokenFi a promising project. Even the CEO of BlackRock, Larry Fink, said a few months ago that tokenization would be the next generation of the markets. This powerful statement from the CEO of the world’s largest asset management firm hints that the future of asset tokenization could be bright. If that happens, the popularity and adoption of tokenization platforms like TokenFi will be hyperbolic for decades to come.
Initially, the TokenFi platform launch occurred on five networks: Ethereum, BNB chain, opBNB, Base, and Arbitrum. Its further expansion on various other blockchains can also come soon.
What is TOKEN (TokenFi)?
TOKEN is the native currency of the TokenFi platform, with a total supply of 10 billion. This supply splits across BSC (Binance Smart Chain) and ETH (Ethereum) equally, giving each chain 5 billion.
It plays an important role in extending the use cases of FLOKI, the native token of Floki Inu.
Here’s why.
The holders of FLOKI can stake their holdings through an official staking site to earn TOKEN as a staking reward. This reward amount is directly proportional to the duration of locking FLOKI tokens. Right after the launch, this initiative proved wildly successful among Floki owners as investors staked FLOKI worth $54.4 million in this staking program within one week. It makes nearly 17% of FLOKI’s circulating supply. The staked FLOKI token amount has already reached trillions and a value of over $56 million.
The other use cases of TOKEN are yet to be disclosed. However, the key ones are to reward the diamond hand-holders of FLOKI and establish an effective tokenization platform to facilitate seamless token creation.
TOKEN Tokenomics
Floki DAO governs the TokenFi project, placing direct control over its future trajectories and decisions in the hands of the Floki team.
Out of the total supply of 10 billion, the majority supply of 56% is dedicated to the staking pool of FLOKI tokens. It means that 56% of the TOKEN supply is reserved to reward those who stake FLOKI tokens. From this 56% supply, 2% is for Floki NFT holders and some early adopters of Floki Inu. Such a setup fosters a direct connection between FLOKI and TOKEN, making them sister tokens of the Floki ecosystem. Furthermore, it also contributes to increasing the popularity and engagement of the Floki project.
The next 10% of the total supply goes to the liquidity pools on Ethereum (ETH) and Binance Smart Chain (BSC). It helps TOKEN to gain enough liquidity for trading activities.
A significant 22% of the supply is for the Treasury of the project to support developers and cover operational costs. It also involves the cost required to inform new users about TokenFi.
Another 7% of the TOKEN supply is currently kept aside for a New Token Staking Pool that will ensure long-term stability to the TokenFi project.
The remaining 5% is for the incentives program that will drive the adoption of TokenFi and its new protocols. It includes the TokenFi referral program that will reward people who refer TokenFi to new users with a portion of the collected fees. While this referral project has not yet started, it will likely begin soon.
TokenFi (TOKEN) Tokenomics
| TOKEN Tokenomics | Purpose |
| 56% | Staking Pools to reward those who stake FLOKI tokens |
| 22% | Treasury for development and operational costing |
| 10% | Liquidity Pools on ETH and BSC to maintain liquidity |
| 7% | New Token Stability Pools for long-term stability |
| 5% | Incentives program for adoption of new protocols |
How to Earn TokenFi (TOKEN) through FLOKI Staking?
Users can stake their FLOKI tokens for at least 3 months to a maximum of 48 months, according to their choice and convenience. However, the longer they stake, the higher their reward. This reward will come from the 56% supply of TOKEN, which incentivizes the long-term holders of FLOKI.
Here is the information on TOKEN reward multipliers, along with the staking period for FLOKI:
- 3 months - 1.25x
- 12 months - 2x
- 24 months -3x
- 48 months - 4x
Those who choose to redeem early before completing the minimum locking period of 3 months can do so, but they must pay a penalty fee. This fee is used to send the same worth of FLOKI tokens to a burn wallet address, contributing to making FLOKI deflationary through the staking program. Only those who redeem their staked FLOKI before their selected time have to pay this penalty fee for early redemption.
Here is the information on the penalty fee for various staking durations:
- For early redemption before 3 months - the penalty is 5%
- For early redemption before 12 months - the penalty is 10%
- For early redemption before 24 months - the penalty is 15%
- For early redemption before 48 months - the penalty is 20%
How did TokenFi (TOKEN) come into existence?
TokenFi (TOKEN) was formed with a Floki DAO proposal in late October 24, 2023. This proposal mentioned the creation of a sister token, TOKEN, to reward the long-term holders of FLOKI and their commitment to the Floki Inu ecosystem.
The community approved the proposal immediately, which set the creation of TokenFi and TOKEN in motion. Within four days of this announcement, the value of the FLOKI token saw a 50% surge in value, hitting $0.00004 on October 27, 2023, the date of the TokenFi launch. FLOKI recorded such a significant surge after almost 6 months.
With its real-world use of simplifying the tokenization of assets by eliminating the need for coding, TokenFi gained instant traction. It also offers multiple other solutions to the DeFi sector in the current world.
Since the tokenization industry is still in its infancy, the potential of TokenFi is immense. With the possibility that the tokenization industry will become a trillion-dollar industry by 2030, pioneer platforms like TokenFi could gain tremendous popularity in the long term.
Features of TokenFi
TokenFi offers 4 key features:
TokenFi Token Launcher
TokenFi Token Launcher lets anyone create their own ERC-20 and BEP-20 compatible tokens with only a few simple and quick steps. It enables you to pick features for your new token, including its treasury fee, burn fees, redistribution of network fees, and many more. It also lets you create liquidity pools for your token on different decentralized exchanges to establish liquidity so that people can trade and swap it via the Token Launcher. The best thing about this tool is that it does everything without needing you to do any coding.
Generative AI For NFTs
It is a “coming soon” feature of TokenFi that will enable its users to use Generative AI for launching their NFTs. It will help them get high-quality digital artwork quickly through only a few simple steps. The users will only need to provide a prompt text of the NFT they want to create, and the generative AI of TokenFi will do the rest of the work in seconds.
TokenFi RWA Tokenization Module
This feature of TokenFi will cater to the tokenization of the Real World Assets (RWA). For those who do not know, Real World Asset in crypto refers to tangible assets from the real world. The most common examples of RWA are - real estate, commodities, physical art, and even Treasuries. Their tokenization brings in their ownership rights on-chain.
The RWA Tokenization module of TokenFi will allow users to input any RWA and turn it into crypto tokens. However, the RWA provided should not be classified as security. Through this feature, people can generate immutable and transparent proof of ownership of various artworks, real estate, gold, and other physical assets on the blockchain.
TokenFi Launchpad
TokenFi Launchpad will allow users to collect funds for their new tokens in a decentralized way. It will give a ready-to-use mechanism for this purpose so that the users do not have to worry about the technical aspects. Like the RWA Tokenization module, this feature has yet to be added to the TokenFi ecosystem. However, the community showed high interest in a decentralized fundraising platform launchpad.
TokenFi AI Smart Contract Auditor
The auditing of tokens is another problem that TokenFi simplifies through its AI Smart Contract Auditor. This yet-to-come feature will leverage AI to instantly audit tokens created through TokenFi. It will ensure users that things are going smoothly with their issued tokens without being involved in any deep analysis.
They will also be able to use this auditor to generate branded audit reports to show them to their token holders and establish trust. If any lousy actor tries to perform any melodious activity in the token smart contract, this auditor will also be efficient in detecting it.
Referral Program and User Incentives
Users who refer TokenFi to others will earn a percentage of fees generated by TokenFi. The platform has allocated 5% of its total TOKEN supply for this program, which aims to drive the adoption of TokenFi and Floki Inu. However, this feature is not yet active at the time of writing. You can visit the official website of TokenFi to know the latest updates.
How did the TokenFi (TOKEN) launch affect the FLOKI Price?
The announcement of TokenFi and its new native token, TOKEN, on October 24 2023, received an overwhelming response from the FLOKI community. Since TOKEN incentivizes the holders of the FLOKI token, the community saw its creation as a positive step towards developing the Floki ecosystem and welcomed it with open arms. Most of the 98.51% of the Floki community supported it.
After the approval of TokenFi, the FLOKI price broke out of its long pending resistance of $0.00002698 and hit $0.00003305 by October 26. After resonating around this price level for hours, the token again gained traction when the TokenFi platform launched on October 27, 2023. This time, it went as high as $0.00004001, significantly relieving its investors.
But it could only hold on to this price point for a while. After balancing and stabilization, the FLOKI price started resonating near $0.00003825. The price continued to face some further corrections that made it shed significant gains by bringing its price down to $0.0000309 first and then $0.00002958 by November 3, 2023. In the next couple of weeks, FLOKI made several attempts to re-break its resistance levels and regain the $0.00004001 value, but the attempts were unsuccessful. Still, the token managed to secure a net 32% gain in the last 1 month. If you wish to buy FLOKI in India, you can do that here.
TokenFi (TOKEN) Price History So Far
On October 27, TOKEN went live at $0.00004914. Within one week, the token rose meteorically, dropping two zeroes from its value by closing at $0.04616. It made a stellar surge of over 56,000% in less than 7 days from its launch. It occurred due to the excitement in the
crypto market about the project and the meme coin frenzy running that week.
The optimism in the market due to the small bullish rallies in blue chip crypto and other altcoins also contributed to a higher risk appetite among investors. It directly strengthened the buy signals for TOKEN, quickly surging its price to extraordinary heights. However, after the first week of its launch, the price of TOKEN has become stagnant. It has fluctuated between $0.0301 and $0.04235 for the past 15 days.
Conclusion
Floki Inu's launch of TokenFi has ushered in a transformative era, propelling it beyond the meme coin niche. The staggering 60,307% surge in TOKEN's value within a month attests to the market's enthusiasm and potential toward the newly launched tokenization platform. TokenFi emerges as a game-changer that simplifies asset tokenization by eliminating coding complexities. The platform's multiple features, including the Token Launcher, RWA Tokenization Module, and AI Smart Contract Auditor, showcase its commitment to the tokenization industry. The strategic link between TOKEN and FLOKI, with a robust staking program and compelling tokenomics, underlines a symbiotic ecosystem.
