Floki Developers Unveil TokenFi

To position the former memecoin project as a severe DeFi competitor, Floki developers will launch a tokenization platform dedicated to the rising real-world asset (RWA) market today.

TokenFi, whose native digital asset is a token (TOKEN), enables users to launch any cryptocurrency without writing code.

Then, users can raise funds from the Floki community, connect with exchanges and market makers for liquidity, and float tokens tied to non-securitized real-world assets.

According to developers, they are vying for a share of the global asset tokenization market.

The tokenization industry is projected to be worth $16 trillion by 2030, according to a Telegram message from the lead developer of Floki.

“BlackRock, the largest institutional investor in the world with $10 trillion in assets under management, has a strong belief in the industry’s potential, which they refer to as “the next evolution in markets.”

Real-world assets (RWA) are physical support, such as real estate or a car, digitized and made accessible through decentralized finance (DeFi) applications.

Theoretically, these products could allow anyone in the world to trade or invest in any global asset, a process that is currently governed by complex business and financial laws.

The protocol will initially launch on the Ethereum, BNB Chain, opBNB, Base, and Arbitrum networks but will expand to additional blockchains within the next few months.

Users who use the protocol to launch their tokens or smart contracts will receive incentives.

A portion of TokenFi tokens will be set aside to reward protocol usage based on daily activity, which may create a flywheel effect that encourages users to continue utilizing the platform to receive additional rewards.

On Friday at 3 p.m. UTC, the first trading of TOKEN will begin on the Ethereum and BNB Chain networks, with an initial fully diluted market capitalization of $500,000 for the token.

The TokenFi supply will be divided evenly between the BSC and ETH chains, with 5 billion tokens on BSC and 5 billion tokens on ETH for 10 billion tokens.

However, as previously reported, more TOKEN can be acquired by staking FLOKI tokens.

“Users will be able to earn the reward token by securing their FLOKI tokens for three months and four years,” B stated last week.

“We anticipate that this will result in a significant portion of FLOKI tokens being locked up for an extended period, which will substantially reduce the number of FLOKI tokens in circulation and significantly increase the value of the FLOKI token.”