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Bitvavo makes FLOKI as easy as possible. Here are answers to common questions to help you make your first steps in the world of digital assets.
Floki (FLOKI) is a cryptocurrency named after the famous television dog from the series "Vikings" and inspired by Elon Musk's Shiba Inu dog. Floki began as a memecoin but has evolved into a versatile crypto ecosystem.
Floki’s goal is to make cryptocurrencies accessible to a broad audience. It achieves this by combining meme appeal with practical and useful applications, such as the NFT game Valhalla, the DeFi platform FlokiFi, and the FlokiPlaces marketplace for non-fungible tokens (NFTs) and merchandise.
The FLOKI token plays a central role in this ecosystem. It is a multi-chain token that runs on both the Ethereum and Binance Smart Chain blockchains. This makes it both an ERC-20 and BEP-20 token, which gives users flexibility and accessibility.
A unique feature of the FLOKI token is its hyperdeflationary design. With every transaction, a portion of tokens are automatically burned, reducing the supply in circulation and potentially increasing the value of the remaining tokens.
Floki was founded by anonymous developers known by the pseudonyms: PetaByte Capital, B, Sabre, and MrBrown Whale. The project is now managed by a team dedicated to the development and growth of the Floki ecosystem, led by Jackie Xu.
While the exact size and experience of the team are not fully known to the public, it is clear that they have a strong focus on both the technological and marketing aspects of the cryptocurrency.
Valhalla, the NFT game within the Floki ecosystem, was launched in 2021. It is a game where users can earn tokens by participating. The FLOKI tokens earned can be stored in players’ wallets and used for in-game purchases.
FlokiFi is Floki’s DeFi platform offering financial services such as staking and liquidity mining. Several products are available on FlokiFi, such as FlokiFi Locker, where users can lock up tokens and NFTs to earn rewards. FlokiFi supports 12 EVM blockchains, including Arbitrum and Dogechain, and is the only locker system where users can lock up multiple assets in a single transaction.
FlokiPlaces is Floki's NFT and merchandise marketplace. Users can purchase Floki-based NFTs and merchandise here.
Floki Prepaid Cards allow users to pay for products and services worldwide. This Visa/Mastercard debit card allows users to store both FLOKI tokens and other cryptocurrencies, which are instantly converted to the merchant’s accepted currency at checkout.
Through the University of Floki, users can learn more about cryptocurrency and blockchain technology. Most classes are free and open to all, however there are also a few courses that users can purchase using FLOKI tokens.
FLOKI is the native token of the Floki ecosystem and has several functions. The FLOKI token is used for transactions, rewards, and governance. FLOKI plays an important role in games like Valhalla, where it is used for gameplay and in-game purchases.
FLOKI is a multi-chain token available on both the Ethereum blockchain and Binance Smart Chain, making FLOKI versatile and accessible. There is a maximum supply of 10 trillion FLOKI tokens, a large portion of which has already been burned through a hyperdeflationary process. A portion of the transaction fees generated by Floki products are automatically burned. This process is designed to promote scarcity and appreciation. The token burn mechanism keeps the circulating supply dynamic, making the token attractive to investors.
Floki has several features that make it a unique cryptocurrency:
Floki can be purchased from Bitvavo, a platform suitable for both beginners and advanced traders. To buy FLOKI, follow the steps below:
The price of FLOKI coins depends on the current market value. Once you complete your purchase, the Floki coins will be automatically added to your Bitvavo account where you can easily manage and trade them. This allows holders to quickly respond to market changes.
Floki coins are best stored in your Bitvavo account, where we secure the majority of customer funds in cold wallets that are managed offline for maximum security. We strongly recommend activating two-factor authentication (2FA) as an additional layer of security.
If you want to store your FLOKI coins in a personal wallet, most software and hardware wallets support Floki. Buy Floki at Bitvavo and then send it to an external wallet after adding the wallet address to your account.
* This is for informational purposes only and is not advice, nor should it be relied upon as such.
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Trading digital assets involves significant risks. Digital assets are highly volatile and you may lose some or all of your investment. The information on this page does not constitute advice, and should not be relied upon as such. Bitvavo is authorized as a crypto-asset service provider under Regulation (EU) 2023/1114 (MiCA) by the Autoriteit Financiële Markten (AFM), Vijzelgracht 50, 1017 HS Amsterdam. More info can be found in our Risk Disclosure.
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