Floki Inu (FLOKI) developers have announced a new Decentralized Autonomous Organization (DAO) and staking token proposal.
If the proposal is accepted, a reward token will be available for the Floki staking program and will kick off the launch of two key roadmap items, Project TL and Mystery Project, on October 27, 2023.
The primary method to earn the reward token will be by locking and staking FLOKI tokens for a period of three months to four years. There will be no pre-sales, private sales or fundraising for the token launch.
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The reward token is planned to be released with a small pool on Uniswap and PancakeSwap to ensure liquidity. However, most of the supply can only be earned by staking FLOKI.
This strategy is intended to result in a significant portion of FLOKI tokens being locked up for an extended period of time, reducing the amount of FLOKI tokens in circulation.
Floki Inu also announced that it has established strategic partnerships with various institutions and projects to ensure the success of the planned cryptocurrency. One of these corporate partners is reportedly controversial market maker DWF Labs.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/popular-memecoin-announces-plan-to-create-a-new-altcoin/