Traders earn 165% profit by staking this token


Over $55 million worth of Floki (FLOKI) tokens have been locked on the blockchain’s staking platform.

Floki launched in 2021 as a meme coin named after Elon Musk’s pet, but it has evolved over time to position itself as a serious decentralized Finance (DeFi) projects. Decentralized finance is a general term for lending and borrowing on the blockchain without the need for intermediaries.

1.8 trillion FLOKI represents nearly 18% of the circulating supply, and it is expected that most of the tokens will no longer circulate in the coming years as traders continue to stake to receive annual rewards of up to 120%.

FLOKI staking rewards.

Staked Floki is used to reward hodler Token (TOKEN), a similar project that allows users to tokenize real world assets (RWA) released in the last week of October.

RWA refers to physical assets, such as real estate or cars, that are digitized and made available on DeFi applications. Some analysts consider RWAs a “trillion-dollar opportunity” because such products could theoretically allow anyone in the world to trade or invest in any global asset, which is currently governed by strict financial and commercial laws. complex process.

Yields range from 51% to over 165%, depending on how long these tokens are locked.

Floki developers have previously stated that they expect tokenization to become a $16 trillion market by 2030. Users can purchase TOKEN from decentralized exchanges (which have a market cap of $40 million), but staking FLOKI can reach just over 50% of the supply.

Incentives will be provided to users who launch their tokens or smart contracts using the protocol. Based on daily activity, a certain percentage of TokenFi tokens will be set aside to reward protocol usage – potentially creating a flywheel effect that entices users to continue using the platform for further rewards.

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According to CoinDesk


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