KuCoin AMA With FLOKI (FLOKI) — From Meme to Dream
Dear KuCoin Users,
Time: February 23, 2023, 11:00 AM - 12:13 PM (UTC)
KuCoin hosted an AMA (Ask-Me-Anything) session with one of the core team members of FLOKI, B, in the KuCoin Exchange Group.
Official Website: https://floki.com/
Follow FLOKI on Telegram and Twitter.
B — core team member of FLOKI
Q&A from KuCoin
Q: Can you introduce yourself and tell us more about Floki?
B: I'm B (da Viking), a Floki core team member and Head of Operations. Floki is the people's cryptocurrency and the utility token of the Floki Ecosystem.
The Floki Ecosystem consists of four main utility products, namely:
- A PlayToEarn metaverse blockchain game named Valhalla.
- An innovative crypto locker protocol named FlokiFi Locker.
- A crypto education platform named the University of Floki.
- An NFT and merchandise store named FlokiPlaces.
Floki currently has 430,000+ holders and a strong community all over the world. The Floki brand is also recognized by billions of people worldwide due to strong, strategic marketing partnerships with some of the biggest sports brands in the world. Floki aims to be the world's most known and most used cryptocurrency!
Q: Floki recently released its 2023 roadmap, and it looks packed. Can you tell us more about this roadmap and what you have planned for this year?
B: Our 2023 roadmap is an exciting one and shows there is a lot to look forward to. As stated in our roadmap, we will launch several new products this year, including Project TL, which we will launch under FlokiFi, which is Floki's DeFi brand. In addition to the above, we will release our flagship utility product, PlayToEarn metaverse game Valhalla, on the mainnet this year. We'll also launch a Chinese version of our metaverse game this year!
There is a lot more exciting stuff on the roadmap, and you can read the full roadmap here.
Q: Floki is focusing heavily on China this year. Why the strong focus on China?
B: We've looked very carefully at the numbers, which show that China will lead world economic growth and the next wave of massive crypto growth this year, and Floki is well-positioned to capitalize on this.
According to JP Morgan, the world's largest bank by market capitalization, China's economy will grow 20 times more than the Euro Area, four times more than the US, and 2.5 times more than the average global economy this year. That's some serious numbers worth paying attention to!
I also want to clarify that Floki announced its "China Plan" before the idea of "Chinese crypto coins" became a trend. So we're strategically positioned to benefit from Chinese economic and crypto growth this year compared to most other cryptocurrencies.
For example, Floki has locked down a strategic marketing partnership with China's biggest crypto social media platform. As a result, Floki also has one of the biggest Chinese crypto communities in the world, with over 120,000 holders and rapidly growing. Furthermore, Floki is one of the few cryptocurrencies that consistently trend in the top 10 of finance-related topics and in the top 3 of crypto-related topics on popular Chinese social media platforms.
So not only do the numbers show that China will be massive for crypto this year, but the numbers also show that Floki is better positioned to capitalize on this growth than most other cryptocurrencies, strategically speaking.
Q: Floki aims to be the world's most known and most used cryptocurrency. Isn't that too ambitious and difficult of a goal?
B: It could be a more ambitious goal. However, those who have followed Floki from the beginning have strong reasons to believe that achieving this goal is inevitable.
To give you a clear idea of the state of things, Floki originally started as an Elon Musk-inspired project abandoned by its original dev. The community pushed a takeover and invited a second dev who abandoned the project. Not giving up, the community ensured that the project got revived no matter what.
Despite these challenges, Floki has been able to achieve the following in a little over a year and a half. We've built a massive community of 430,000+ holders and one of the strongest crypto armies in the world. We've built several strong, innovative utility products, including what I believe to be the most disruptive blockchain gaming metaverse in this space (Valhalla) and the most innovative crypto locker protocol in the space (FlokiFi Locker). We've built FOUR schools in four world nations, including Nigeria, Laos, Guatemala, and Ghana. We've formed strong marketing partnerships that have exposed the Floki brand to an audience of over 3 billion people. This includes marketing partnerships with 8 of the biggest international football clubs, a partnership with a top Formula 1 team, and aggressive marketing campaigns on billboards, buses, and TV stations in over a dozen nations worldwide.
Being able to achieve the above in a little over a year and a half is no mean feat, and Floki is currently one of the most popular cryptocurrencies in the world. However, based on our roadmap and our moves, it's also very clear that we have the potential to be much bigger.
Q: Why is Floki called the people's cryptocurrency?
B: Floki is called the people's cryptocurrency for two main reasons:
Firstly, Floki had a unique early start where it was abandoned by its original dev and then another dev that was invited to save it. Yet the Floki community remained adamant in ensuring it survived.
Secondly, Floki is more pro-people-focused than any other cryptocurrency worldwide. For example, Floki is the only cryptocurrency directly built FOUR schools in four different world nations. In addition, Floki is the only cryptocurrency contributing millions of dollars to fight food insecurity. And these are only a few of Floki's charitable initiatives.
Our last DAO vote shows how much of an influence the Floki community (the people!) has on the project's trajectory: the Floki DAO voted to disable the Floki bridge and burn the tokens in that bridge. At the time of the burn, the tokens were worth over $120 million. They're now worth over $250 million. The people spoke, and their decision was executed. It's that simple!
It's good to see that people can now freely trade Floki, the people's cryptocurrency, on KuCoin, the people's exchange!
Q: How is Floki different from the Dogecoin and Shiba Inu cryptocurrencies?
B: Floki is different from Dogecoin and Shiba Inu in a lot of ways:
Firstly, Floki has a stronger utility focus than both: we're currently building the most disruptive metaverse game in the industry and the most innovative crypto locker protocol. Data shows clear adoption for both of these products.
Secondly, Floki is doing real, impactful stuff towards helping make lives easier for the people: we've built four schools and contributed tremendously towards fighting food insecurity.
Thirdly, Floki has clearly outlined goals and has shown we're willing to work ruthlessly and aggressively toward achieving these goals. For example, Floki aims to be the most known and most used cryptocurrencies in the world, and as explained above, we have done a lot, and continue to do a lot, towards achieving this goal.
Free-Ask from KuCoin Community
Q: Do you know that audit is important for both trust and security? Have you done any audits of your project?
B: Security should be an important consideration for anyone trying to choose a crypto project to get into, and we realize this at Floki. This is why Floki is partnered with CertiK, the industry leader in blockchain security, to help with our audit needs.
CertiK has audited our smart token contracts and crypto locker protocol FlokiFi Locker.
You can see the CertiK audits here:
Q: Will there be a burn mechanism for your tokens?
B: Floki doesn't believe in using burns as a gimmick like most projects. Instead, we believe in providing true value and utility that drives strong demand for the Floki token!
For example, our utility product FlokiFi Locker automatically buys and burns FLOKI tokens with every successful transaction. The protocol has gained much traction lately and recently hit a Total Value Locked (TVL) ATH of $31.5 million.
We also have another project on our roadmap to buy and burn FLOKI tokens and further make Floki deflationary. It is codenamed "Project TL" and is due to launch this year.
That said, Floki recently had one of the biggest token burns in crypto history based on the decision of the Floki DAO. We burnt 5.1 trillion FLOKI tokens worth $120 million+ at the time of the burn and around $250 million now.
Q: Do you have a video tutorial so we can learn more about your FLOKI project? Do you have a YouTube channel or something? Can you share it with everyone?
B: This is a good question! We indeed do have a video that gives an overview of what Floki is and what the Floki Ecosystem is all about in this link.
Q: Do the token holders have the right to participate in project governance? For example, what decisions can they vote on about the project?
B: Floki is a DAO, and FLOKI holders have repeatedly voted on key issues affecting the project's future. We've had users vote on issues that range from whether to renounce the Floki contract to whether to burn FLOKI tokens. In one of our most recent DAO votes, the Floki DAO was able to vote on whether or not to reduce the Floki transaction tax by 90% and burn the bridge tokens worth $120 million+ at the time of the burn. Every major crypto publication wrote about this, including The Block, and Coindesk.
Q: You plan on having staking built. Where will the staking reward money come from? Is it from when lending-borrowing DeFi was live? (So the staking is like term deposit interest in banks.
B: I can't reveal much about staking rewards for now, but we will have a DAO vote about this in the future. We have options ready to present to the DAO, so it will ultimately be a decision of the Floki DAO.
Our native staking program differs from our lending/borrowing integration which strong, respected partners in the space will facilitate!
KuCoin Post AMA Activity — FLOKI (FLOKI)
🎁 Participate in the FLOKI AMA quiz now for a chance to win 170,000 FLOKI !
The form will remain open for five days from publishing this AMA recap.
KuCoin and FLOKI have prepared a total of 34,000,000 FLOKI to give away to AMA participants.
1. Pre-AMA activity: 6,800,000 FLOKI
2. Free-ask section: 850,000 FLOKI
3. Flash mini-game: 6,800,000 FLOKI
4. Post-AMA quiz: 19,550,000 FLOKI
. . .
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