Authored by: @hetty-rowan

Today let's take a look at another meme token that aims to become the new number 1 meme coin. And since I am a dog lover I think it is appropriate to look in the dog meme coins.

In addition, I noticed that these meme coins often do quite well. Take Shiba Inu as an example.

For the coin we're going to look at today, we'll stick with the same breed. The Shiba Inu, this breed, has received another coin. The Floki Inu!

So where does the name Floki come from? Quite simply, Elon Musk bought a Shiba Inu, which he named Floki.

A meme coin inspired by Elon Musk his dog. But is this all Floki Inu has to offer us? My answer to this is clear. NO, Floki Inu has more to offer than just a meme coin inspired by the name of Elon Musk's dog.

To find out what Floki Inu is, I did a little research on this coin, which you can read here.

What is Floki Inu (FLOKI)?

Floki Inu aims to be more than just a bouncy castle, meme coin. The project sees itself as a community with a truly usable platform. The community is known as the Floki Vikings and participants within the community are called Vikings.

The name Floki Inu came about because Elon Musk named his dog Floki, and a group people within the Shiba Inu community wanted to create a new token of its own. The Floki Inu was born! However, Floki Inu continues as just a name inspired by the name of Elon's dog. In addition to this link to Elon, (it should be noted that there is no other link to Elon as far as is known now)! But the project does have a proven link to Elon's brother, Kimbal Musk. Together with Kimbal Musk's company, Million Gardens Movement, Floki Inu is working to solve the world's food shortage.

Often meme coins are created thanks to the Tweets of Elon Musk, but these are developed purely as a joke. The coins are of little use, except for the speculative aspect. However, Floki Inu has plans that will make the project and the token useful, by realizing a game, marketplace and even an educational platform.

FlokiPlaces

In order to be able to trade the NFTs of the game Valhalla, Floki Inu plans to set up a marketplace. The marketplace will be called FlokiPlaces and is partly the result of the collaboration with Curate (XCUR).

In addition to Valhalla's NFTs, you can also buy Floki Inu merchandise through the marketplace. An additional advantage of this marketplace is that you do not have to pay any transaction costs. This makes the marketplace very interesting for both buyers and sellers.

Floki Inuversity

In addition to these developments, Floki Inu also focuses on its own educational platform. The platform is called Floki Inuversity, named after the project. The team has not yet shared much about the content of the educational platform. If you are interested in this, it is wise to keep an eye on the channels of the project.

Valhalla

The project is in the process of creating Valhalla, a play-to-earn game that uses NFTs and is set in the metaverse. Everything you get in the metaverse - including through combat - is yours. You are free to own or sell the NFTs. The currency in the game is FLOKI.

The team that is developing Valhalla has been working on NFT games since 2017. A total of 15 team members are working on the project. In addition, experienced advisors are sought to make the game a success. The aim of the game is for it to be a worldwide success, so that Floki Inu's coin gains even more value.

Floki Inu's Token: FLOKI

In addition to the coin's usefulness within the ecosystem, FLOKI is also useful outside of it. For example, there is cooperation with Shopping.io (SPI), so that you can make purchases with FLOKI at eBay, Amazon, Walmart and AliExpress, among others. In addition, the project also collaborates with CryptoCart (CC). This allows the coin to be used to buy gift cards. This ensures that you can make payments at Apple and PlayStation, among others.

However, for many FLOKI users, the digital currency is a speculative investment, hoping for huge price increases. Dogecoin and Shiba Inu have set the example, the price of a meme coin can rise enormously.

Tokenomics

The Floki Inu token is available on the Ethereum (ETH) blockchain and the Binance Smart Chain (BSC). This makes it easy to combine the ERC-20 and BEP-20. In total, there are up to 10 trillion tokens. This maximum amount will decrease, however, due to the transaction costs. This is because part of the transaction costs is withdrawn from circulation.

Token burn

On both the Binance Smart Chain and the Ethereum blockchain has Floki Inu a burn wallet. FLOKI is removed from circulation via these wallets, making the coin deflationary. The relevant tokens come into these wallets via the costs incurred during transactions. This ensures that the tokens become more valuable, because there are fewer available.

The transaction costs are now 11%, with the percentage being divided for 3 purposes. For example, 2% of the transaction costs go to the holders of FLOKI. In addition, 6% goes to the burn wallet, as a result of which these tokens permanently disappear from circulation. The other 3% goes to the marketing wallet. This percentage is intended to further develop the ecosystem. If sufficient money has been raised for the plans, it is possible that this percentage will be lowered.

Ecosystem development

The percentage withheld from transactions is used for various purposes within the ecosystem. The large-scale marketing campaigns are paid with it, but also collaborations with influencers, offline events and other promotions.

In addition, part of the amount goes to donations to charities, so that as an investor you indirectly support charities. The money will also be used to further develop the ecosystem, by expanding the team and entering into new partnerships.

Where can you buy the Floki Inu token?

Currently, you can get FLOKI from more than ten platforms. The most well-known options are Uniswap (UNI), PancakeSwap (CAKE), Gate.io and Poloniex. The last two options are centralized exchanges where you can get the token in the easiest way.

If the hype about meme coins continues, the same may happen with FLOKI as with Dogecoin and Shiba Inu. Both coins were added to their range by major exchanges as their popularity increased.

Time will tell, but at least this meme coin has something more to offer and actual plans for improvement and use cases.

Nothing I write should be considered Financial Advice.

Posted Using LeoFinance ^Beta