BitWell AMA | Introducing FLOKI: Why Floki is the People’s Cryptocurrency and How it Plans to Dominate in 2022?

BitWell
5 min readJul 29, 2022

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On Jul 27th, B, the Floki Core Team Member visited the BitWell community and brought a wonderful sharing with the theme “Why Floki is the People’s Cryptocurrency and How it Plans to Dominate in 2022?”.

Host Q&A

1.Could you please give us a brief introduction of Floki and what problems it intends to solve?

FLOKI is the people’s cryptocurrency and the utility token of the Floki Ecosystem.

The Floki Ecosystem is a community-powered ecosystem that aims to give people control of their finances through four key utility offerings:

- The Valhalla Play2Earn Metaverse NFT Game.
- The Floki University Crypto Education platform.
- DeFi through key partnerships and integrations.
- The FlokiPlaces NFT & Merchandise Marketplace.
- A key protocol we will be releasing soon codenamed “Project L”.

These are all utility projects that will contribute actual value to people and the crypto industry and that will be used by tens of millions (possibly billions!) of people eventually once they’ve all been released.

On an adoption level, Floki has:

410,000+ holders on both the ETH and BSC chains.
- We’re listed on over 30 exchanges, including major ones.
- We have a mainstream brand recognized by billions of people due to partnerships with 8 international football clubs, a Formula 1 team, and lots of strong marketing moves.

2.We wonder what inspired you to create Floki and to make $FLOKI “The people’s cryptocurrency”?

That’s an interesting question, especially because we didn’t exactly “create” Floki.

Inspired by an Elon Musk tweet in which Elon said his Shiba Inu will be named Floki, the Floki token was initially created by an anonymous dev who felt a token named “Floki” could be just as successful as Dogecoin and Shiba Inu due to the Elon Musk effect that has benefited those two cryptocurrencies. A community quickly formed around this token.

It wasn’t long before the community realized that the original token’s contract was buggy, however. The community rallied and asked the dev to fix the contract. He didn’t. Instead, he abandoned the project.

The current team consists of holders of that original token who decided to come together and make sure it survives after the original dev abandoned it. More importantly, we decided that the Floki token will be different from other memecoins out there by introducing solid utility to it and building an ecosystem around it.

This incident, of the people bonding to save the project, when the original dev abandoned it is exactly why Floki is called the people’s cryptocurrency.

3.Could you now give us an insight into the tokenomics of FLOKI?

Of course. Floki currently has a total supply of 10 trillion tokens. Around 9.3 trillion is currently in circulation while the rest has been burnt. That’s about 7% of the entire Floki supply burnt or out of circulation.

The Floki token also currently has a 3% tax that applies to every onchain buy/sell transaction of the Floki token. This tax does not apply to onchain transfers or transactions on CEXs.

4.Could you elaborate on the utilities of Floki Inu Token and how it can benefit Floki users?

The utility of the Floki token lies within the ECOSYTEM we are building as well as integrations with partners that allow Floki to be used as a currency.

The “Battle Arena” of our Metaverse NFT game, which is our flagship utility product is currently live on testnet at https://valhalla.game. Once the full game launches the FLOKI token will be the game’s main currency.

We will also be releasing our “Project L” protocol soon. This protocol will “consume” FLOKI tokens to operate; in other words, a portion of transaction fees when the protocol is used will automatically buy and burn Floki tokens to operate the protocol.

The University of Floki crypto education platform and the FlokiPlaces NFT and merchandise store will also utilize the Floki token for certain aspects of the platforms.

With more demand for these utility projects, there will be massive adoption of the Floki token which benefits holders and believers in the project.

5.Does the Floki team have any exciting initiatives that are planned for $FLOKI in the pipeline?

Haha, of course!

We’ve got quite a lot planned for the rest of 2022. We recently released our roadmap for the second half of 2022 and there are lots of exciting developments the Floki community can look forward to including:

- The release of the Floki Gemstone NFTs.
- The release of Floki’s “Project L” protocol.
- The release of the Floki Debit Card.
- Our Valhalla Metaverse game main release.
- Much more!

Link to the full roadmap here:

https://realflokiinu.medium.com/floki-2022-development-roadmap-610fce6f1aa3

We have A LOT of exciting stuff planned that are not included on the roadmap too, so the future is indeed very bright for Vikings! 🔥

Community Live Q&A

1.What major partnerships does your project intend to use or how does your project bring its products to the average consumer — especially non-crypto users?

That’s a really good question, and for Floki the answer is quite simple:

Floki is one of the most familiar and mainstream crypto brands in the world!

For perspective:

- We are partnered with 8 international football clubs. Combined these football clubs are in leagues that are watched by over 3 billion people and these partnerships expose the Floki brand to billions of people.
- We are partnered with a major Formula 1 team. The Formula 1 sport is watched by over 1.5 billion people.
- We ran an aggressive marketing campaign in over 14 nations of the world showing the Floki brand on buses, billboards, TV stations, and in airports. In particular, our campaign in the UK featured Floki branding on 300 buses and all over the Underground transport network. Very popular!

So in essence Floki is already an easily recognizable brand by mainstream audiences, and with time when we release some of our major utility products we will be doing more to create awareness.

2.According to the project’s roadmap- what are your most important next priorities?

We have a lot of exciting priorities for Q3 according to our roadmap.

This includes the release of Floki’s long anticipated “Gemstone NFTs” and our “Project L” utility protocol that enables transactional burns for the Floki token.

We are also planning to introduce staking to the Floki community in Q3 so a lot of exciting stuff is planned and in the pipeline!

3.Where I can get the latest updates or more information about the project?

You can get the latest updates and get more information about Floki:

-On our website: https://floki.com
- In our Telegram group: https://t.me/FlokiInuToken
- On our official Twitter page: https://twitter.com/realflokiinu

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