In the crypto space, innovation is the name of the game, and players like Floki have pushed these boundaries. The platform has venture Real-World Assets (RWA). The crypto world is an ever-evolving space that has seen many new products enter the market in light of developing a practical digital world.
Floki Inu is well known for its loyal community that supports the SHIB-inspired memecoin and has now set sight on the trillion-dollar world of RWA with the introduction of its new TokenFi platform. As such, this has addressed Floki’s focus on revolutionizing interaction with investment assets that enhance developments in blockchain to the mainstream.
Floki’s joining on the trillion-dollar RWA narrative
Floki developers have announced their intended launch of a tokenization platform that intends to join in on real-world assets (RWA). Their focus has been on pouncing on this narrative in order to secure their initial memecoin project as a serious contender in the decentralized financial (DeFi) market. Launch of the TokenFi Platform is expected today, as it has exclusive futures for its users.
According to ‘B,’ a Floki lead developer, introducing Floki’s TokenFi Platform: Revolutionizing the Crypto Space.” Based on their statements, the Floki developers are trying to be part of the global asset tokenization market, with their focus on RWA.
The Floki lead developer also commented, “BlackRock, the world’s biggest institutional investor with $10 trillion of assets under management, strongly believes in the industry’s potential, which they call “the next evolution in markets.”
What does the TokenFi Platform offer?
The TokenFi platform will allow its users to access tools that assist them in launching any digital currency without needing a written code. Additionally, users can raise funds from the Floki community in light of their crypto creation.
The platform will also act as a direct link to market makers and exchanges that will assist in liquidation. Users will also get to float their tokens that are tied to real-world assets (RWA). However, these tokens will not be considered as securities.
The network users will also be offered incentives to use the protocol to launch their tokens or smart contracts. This will be through rewards on protocol usage that will be kept aside based on daily activities. The rewards will be a percentage of the TokenFi tokens, which may attract users to keep using the platform to generate more rewards.
The initial time for trading the TokenFi tokens is set for Friday at 3 p.m. UTC and will be first launched on Ethereum and BNB Chain networks. The digital asset will be offered at a primary diluted market capitalization of $500,000.
Additionally, the TokenFi supply will be divided evenly between the ETH Chain and BSC. This will be a combined total of 10 billion tokens, where both the Ethereum and BNB Chain networks will each have 5 billion tokens.
According to a previous report by Floki, the FLOKI tokens can increase in supply based on their staking attribute.
Real-World Assets refer to physical financial assets, including cars and real estate, that are digitized and availed in the decentralized finance (DeFi) market. Based on analysis made by several experts, this pool is deemed a “trillion-dollar opportunity.”
Simply put, the product will allow anyone in the real world to access and trade any global asset. This process has been considered strenuous and complex based on the financial and business laws put in place.
Initially, the protocol will be launched in five leading networks, including BNB Chain, Ethereum, Arbitrum, Base, and opBNB. However, the developers straightened out that an expansion is soon to take place that will avail the protocol on other blockchains in the months to follow.