Fun

Floki Inu roadmap reveals plans for regulated bank accounts

News Feed - 2024-03-23 05:03:13

Amaka Nwaokocha31 minutes agoFloki Inu roadmap reveals plans for regulated bank accountsFloki expands beyond memecoin status by introducing debit cards, digital accounts, and educational platforms for users.310 Total viewsListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe 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 Inu


In 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 volume


Through 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?# Business# Decentralization# DeFi# Web3# Floki InuAdd reactionAdd reactionRead moreFTX to offload $1B Anthropic stake to pay off bankruptcy debts within weeks — reportFinal Fantasy 15 director says AI, VR, Web3 important for devs ‘whether you like it or not’Pakistani university launches country’s first metaverse-based classes

News Feed

Peter Schiff Blames Government for the Massive Dollar Depreciation — Still Refuses to Accept BTC is Digital Gold
Peter Schiff Blames Government for the Massive Dollar Depreciation — Still Refuses to Accept BTC is Digital Gold Gold bug and bitcoin opponent Peter Schiff say
Ezra Reguerra13 hours agoHong Kong central bank warns against crypto firms using banking termsThe HKMA said that funds placed on unlicensed “crypto banks” are not protected by the region’s deposit protection scheme
Rick and Morty Creator Sells NFT Art Collection for Over $1 Million in Ether
Rick and Morty Creator Sells NFT Art Collection for Over $1 Million in Ether Justin Roiland, the co-creator of the Adult Swim cartoon series Rick and Morty has j
Ethereum’s Dencun upgrade to launch in 2 days: Here’s why it matters
Zoltan Vardai12 hours agoEthereum’s Dencun upgrade to launch in 2 days: Here’s why it mattersDencun — the most-anticipated upgrade since the Merge — is set to ship in two days, promising to significantly reduce l
US Senator Requests Government Agencies Step Up Efforts to Prosecute Criminal Use of Cryptocurrencies
US Senator Requests Government Agencies Step Up Efforts to Prosecute Criminal Use of Cryptocurrencies U.S. Senator Margaret Hassan has requested that government agencies take
Demand for Crypto Soars: Bitcoin Funds Break Records, Goldman Sachs Wants In
Demand for Crypto Soars: Bitcoin Funds Break Records, Goldman Sachs Wants In Investors are increasingly seeking exposure to bitcoin following the recent months-l
Turner Wright7 hours agoBim Afolami takes the reins on UK crypto policy as new Economic SecretaryUnder U.K. Prime Minister Rishi Sunak, former Economic Secretary Andrew Griffith will become the next minister of state in
Zhiyuan Sun8 hours agoKuCoin suspends Bitcoin and Litecoin mining pools“We deeply regret any inconvenience this might cause and we remain grateful for your unwavering support and understanding," the exchange wrote
Metamask Launches Ethereum Staking Services via Lido and Rocketpool
Metamask Launches Ethereum Staking Services via Lido and Rocketpool On Friday, the Web3 wallet firm Metamask, a subsidiary of the Ethereum-centric company Consensys, announced the
Europe’s Largest Telecom Provider Chooses to Leverage Coinbase Custody to Stake CELO Tokens
Europe’s Largest Telecom Provider Chooses to Leverage Coinbase Custody to Stake CELO Tokens The largest telecommunications provider in Europe, Deutsche Telekom
Solana rockets 13% to new yearly high, led by WIF memecoin frenzy
Tom Mitchelhill19 minutes agoSolana rockets 13% to new yearly high, led by WIF memecoin frenzyThe price of Solana surged to reach a new 2024 high, while traders are doubling down on the Solana-based memecoin dogwifhat.16
Global Regulators Consider Launching a Joint Body to Coordinate Crypto Rules
Global Regulators Consider Launching a Joint Body to Coordinate Crypto Rules Global market regulators are likely to launch a joint body within the next year to better coordinate cr