TokenFi (TOKEN): Empowering Users With Effortless Tokenization

Floki has outdone itself with yet another decentralized finance (DeFi) innovation: TokenFi. From its beginnings as a meme coin inspired by Elon Musk's pet dog, Floki has transformed into a multifaceted asset within its ecosystem. Now, its latest project, TokenFi, is set to solidify Floki's position as a serious contender in the DeFi space, as its announcement has led to a $100 million surge in FLOKI's market capitalization from Oct 24–27, 2023. You may be wondering, "What is TokenFi, and how exactly does it work"? Allow us to unravel the intricacies for you.

Key Takeaways:

1. TokenFi, Floki's crypto and asset tokenization platform, enables effortless tokenization of real-world assets and crypto without any coding.

2. Floki's TokenFi project led to a $100 million surge in FLOKI's market cap within three days of community endorsement.

3. Some of TokenFi's pioneering features include the Token Launcher for easy token creation, an RWA Tokenization Module and the TokenFi Launchpad.

What Is TokenFi?

TokenFi is a user-friendly platform for crypto and asset tokenization that allows users to tokenize any real-world asset (RWA) and launch crypto tokens without needing to write code or spend much money. Part of the Floki ecosystem, TokenFi was initially created to distribute TOKEN crypto rewards to the Floki community. 

TokenFi was introduced in late October 2023 as the result of a Floki DAO proposal to launch a staking program. The Floki community approved the proposal on Oct 24, 2023, immediately setting the project in motion. Just four days after the endorsement, FLOKI's token value had surged by over 50%, reaching $0.00004 on Oct 27, 2023, the date of the release of TokenFi — a peak not witnessed in almost half a year.

The TokenFi platform uses TOKEN coins to reward users who stake FLOKI coins. TokenFi currently has one full-fledged working function, the Token Launcher, that lets users easily create tokens similar to FLOKI without coding. TokenFi will also be offering many other DeFi solutions currently in the works.

One of the most highly anticipated features will be the ability to use the platform to turn a real-world asset (RWA) into a crypto token. This holds significant promise, as RWA tokenization essentially enables people to attach physical properties to the blockchain. RWA tokenization is a billion-dollar industry expected to be worth trillions of dollars by 2030, and TokenFi aims to break into the global asset tokenization market to streamline the process.

TokenFi Key Features

TokenFi Launcher

The TokenFi Token Launcher lets anyone create ERC-20– and BEP-20–compliant tokens in a few simple steps. Choose from a list of features, such as burn fees, buyback liquidity and treasury wallets. Additionally, you may even create liquidity pools on decentralized exchanges (DEXs) to facilitate swapping via the Token Launcher.

TokenFi RWA Tokenization Module

The Floki team also has plans to release a RWA Tokenization Module on TokenFi. This will allow users to input any RWA that isn’t a security and turn it into a crypto token. Through the asset tokenization process, people will be able to establish proof of ownership over their artwork and collectibles — and even gold — on the blockchain.

TokenFi Launchpad

The TokenFi Launchpad takes care of the technical aspects of fundraising so that project creators can focus on networking and fundraising. Though it's not fully implemented yet, the TokenFi Launchpad will be fully decentralized and provide helpful security measures.

TokenFi AI Smart Contract Auditor

This upcoming feature will help ensure that crypto token launches and asset tokenization remain fully aboveboard. Users will be able to get on-the-spot token audits for their smart contracts, which will reassure the community and prevent malicious actors from taking advantage of TokenFi's easy token-generation process.

Referral Program and User Incentives

TokenFi hopes to further support the tokenization industry through user incentives. In order to boost program adoption, users who refer others will receive additional TOKEN rewards. Five percent of the total supply of TOKEN coins has been allocated to this referral program.

TOKEN Tokenomics

So far, Floki hasn’t fully outlined use cases for the TOKEN cryptocurrency, having only announced that TOKEN can be earned as a staking reward for FLOKI holders via a dedicated FLOKI staking site. The main fact known thus far about TOKEN is that its total supply is 10 billion, evenly split between the BSC and ETH chains and distributed as follows:

Source: TokenFi

TOKEN is currently priced at around $0.032 with a market cap of $37.5 million (as of Nov 9, 2023). Its current price is over 64,000% higher than its all-time low of $0.0000498, recorded on the day of its launch, and 39.92% lower than its all-time high of $0.0539 on Nov 2, 2023.

Floki Staking Program for TokenFi Rewards

TokenFi's initial purpose was to provide a reward to people who have staked FLOKI tokens. Users can choose to lock their FLOKI to earn TOKEN. The longer they stake their FLOKI tokens, the more rewards they’ll earn. This program has already proven to be wildly popular. Within a week of going live, $54.4 million worth of FLOKI tokens were placed in the FLOKI staking program, indicating that 17% of the total circulating supply of FLOKI tokens was locked. Currently, 1.9 trillion FLOKI are locked in the staking program, amounting to over $56 million.

Where to Buy TokenFi (TOKEN)

Even if you haven’t staked FLOKI tokens, you can still easily get your hands on the TOKEN coin. TokenFi tokens are available for sale on DEXs like 1inch and PancakeSwap, and centralized exchanges (CEXs) such as Bybit. In fact, besides buying TOKEN as a Spot pair or USDT Perpetual, you can take advantage of four special events that Bybit has prepared with TOKEN giveaways amounting to 16.8 million TOKEN!

Closing Thoughts

TokenFi is more than just a new part of the Floki ecosystem, as it also has exciting implications for the billion-dollar tokenization industry. By focusing on the real-world asset tokenization process, TokenFi has the potential to further connect the blockchain industry with real-world items. If the Floki team fully explores and develops this system, it may become a major player in the DeFi realm.

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