Floki Inu roadmap reveals plans for regulated bank accounts

Share This Post

The development team behind the dog-themed memecoin Floki Inu has unveiled its roadmap for 2024, revealing several upcoming features and utility-focused initiatives. This includes regulated digital banking accounts, enabling users to create and fund bank accounts using FLOKI tokens. The roadmap also mentions an integration with the Venus decentralized finance (DeFi) protocol, the Floki debit card’s introduction, and the Valhalla mainnet’s upcoming release.Teaming up with an undisclosed licensed fintech firm operating across strategic locations like Canada, Spain, Dominica, Australia, and the UAE, these digital banking accounts will facilitate SWIFT payments and Single Euro Payments Area International Bank Account Numbers (SEPA IBANs).Source: Floki InuIn addition, the forthcoming introduction of Floki Debit Cards will enable individuals to connect their digital bank accounts with debit cards, offering a convenient and secure method to use their FLOKI tokens for transactions in traditional currencies like euro (EUR) and U.S. dollars (USD).According to the proposal, the initiative aims to extend traditional banking services to a wider user base by allowing them to utilize their FLOKI tokens, thereby enhancing cryptocurrency utility and adoption.Subject to governance ratification, Floki Inu intends to list its native token, FLOKI, on the Venus Core Pool. This endeavor is designed to enhance liquidity, akin to established cryptocurrencies, enabling FLOKI holders to leverage their tokens as collateral for borrowing various assets like Maker (DAI), Circle’s USDC stablecoin, BNB (BNB), and Ether (ETH).Related: Pepe, Floki, Bonk and other memecoins record 3,000% surge in weekly volumeThrough the direct integration of Venus Markets into Floki’s user interface (UI), the protocol ensures seamless access to the platform’s liquidity, effectively embedding Floki deeper into the decentralized finance ecosystem.Floki Inu intends to launch a cross-chain trading bot on Telegram and Discord, driven by the FLOKI token. It enables users to trade cryptocurrencies across significant blockchain networks. Notably, half of the generated fees will be utilized to buy and burn FLOKI tokens, enhancing their functionality and supporting a deflationary approach.Lastly, the awaited launch of Valhalla, Floki Inu’s primary utility and metaverse game, will take place on the mainnet. Valhalla on the mainnet will include on-chain gaming features, a PlayToEarn system, customizable NFTs, and an expansive open-world environment.In January, the Hong Kong Securities and Futures Commission (SFC) cautioned the public about the “Floki Staking Program” and “TokenFi Staking Program.” The SFC noted that these products provide staking services, promising annualized returns from 30% to over 100%. Despite this, they lack authorization for public sale in Hong Kong.Magazine: Ethereum restaking: Blockchain innovation or dangerous house of cards?

Source
Floki Inu roadmap reveals plans for regulated bank accounts is written by Cointelegraph by Amaka Nwaokocha for cointelegraph.com

Related Posts

Exploring On-Chain Lending and Borrowing: Unleashing the Power of Decentralized Finance (DeFi)

On-chain lending and borrowing are revolutionary financial services facilitated...

What is restaking, and how to restake Ethereum to boost rewards?

In proof-of-stake (PoS) blockchains such as Ethereum, the network’s...

If you still think bitcoin is scarce, you’re suffering from fiat brain

Bitcoin is not scarce and it’s not going to...

Solcraft Ecosystem Preparing to Launch the $SOFT Utility Token on Solana Blockchain

Solcraft, a new crypto project that fuses Minecraft and...

Demystifying Staking and Validators: The Pillars of Proof of Stake Consensus

Staking and validators are integral components of proof of...
ethereum
Ethereum (ETH) $ 3,160.45
bitcoin
Bitcoin (BTC) $ 65,493.55
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 0.504628
binance-usd
BUSD (BUSD) $ 1.00
cardano
Cardano (ADA) $ 0.472989
dogecoin
Dogecoin (DOGE) $ 0.161275
litecoin
Litecoin (LTC) $ 79.81
solana
Solana (SOL) $ 151.80