Don’t miss the latest developments in business and finance.

image

Floki Inu

About Floki Inu

Facebook IconLinkedIN Icon

What is Floki Inu ?

In September 2021, Tesla and SpaceX CEO Elon Musk shared an image of his pet known as 'Shiba Inu' on Twitter with the caption ‘Floki has arrived’.
 
The meme cryptocurrency coin 'Floki Inu' based on the name of the pet, rose by 1,000 per cent only in two days and rallied about 1,500 per cent in just 72 hours since inception. Eventually, more Floki-themed coins such as FlokiPup Inu, Baby Floki Inu, Shiba Inu, and Floki Shiba Inu also saw an increase in value after Musk's tweet.
 
Floki is the same breed as Musk's bitcoin currency -- Dogecoin.
 
How did the Floki crypto coin come into existence?
 
In June 2021, Elon Musk tweeted "My Shiba Inu will be named Floki" and from there, the concept of creating the Floki Inu came into existence.
 
How does Floki Inu work?
 
Floki Inu was launched on the Ethereum (ETH) blockchain and it is one of the few crypto coins that provide the multi-chain protocol feature.
 
The meme-based crypto coin is hosted on both the Binance Smart Chain (BSC) and Ethereum. Floki Inu has a total circulating supply of 9.17 T across the ETH and BSC chain combined and has a total circulating market capitalisation (m-cap) of $597.01 million across the ETH and BSC chains.
 
Rewards
 
Floki Inu holders have the facility for holding Floki coin tokens to earn rewards. At least 4 per cent rewards are given to Floki holders on the ETH and BSC blockchains when a holder swaps a token on a crypto exchange. The reward percentages may vary depending on future upgrades.
 
The Floki Inu token is hyper-deflationary, which means that a rise in the size of the burn wallet also increases the reflationary rewards for Floki holders. Gradually, the decline in circulating supply increases the demand for Floki and its price.
 
Usage
 
Floki provides real-world utility in terms of usage. The cryptocurrency coin can be used to buy items from offline stores through its partnership with CryptoCart (CC). Floki holders can also pay for goods on the XCUR platform.
 
Other utilities in the future may include several features like buying NFTs, gaming, and paying for services and goods.
 

Here are the latest news from Business Standard

Latest News

Initially, the petition was filed in the MP-MLA court, where it was dismissed. However, the petitioner pursued the matter by appealing to the District Judge Court

Updated On: 22 Dec 2024 | 10:34 AM IST

Stay with us for all the major news updates from around the world

Updated On: 22 Dec 2024 | 10:28 AM IST

While speaking at the "Hala Modi" community event at Kuwait's Sheikh Saad Al-Abdullah Indoor Sports Complex, PM Modi highlighted India's rapid transformation in various fields, including technology

Updated On: 22 Dec 2024 | 10:26 AM IST

Indian Army said - Indian Army reacted swiftly for the rescue. In a remarkable display of coordinated efforts, Indian Army Columns along with NDRF and State rescue teams have been relentlessly working

Updated On: 22 Dec 2024 | 10:12 AM IST

According to Radio Free Asia, this shipment is part of a larger order of 122 tanks expected over the next two years. While the M1A2T is regarded as one of the most advanced main battle tanks globally

Updated On: 22 Dec 2024 | 9:54 AM IST

There has been increasing concern from Albanian parents after reports of children taking knives and other objects to school to use in quarrels or cases of bullying promoted by stories on TikTok

Updated On: 22 Dec 2024 | 9:54 AM IST

Punjab's ruling Aam Aadmi Party won the municipal elections in Patiala and was leading in Ludhiana and Jalandhar, while the Congress was ahead in Phagwara and Amritsar.

Updated On: 22 Dec 2024 | 9:44 AM IST

The 50 per cent target is a long way, but industry-watchers feel that over the next four to six years, India's auto exports would continue to grow in double digits

Updated On: 22 Dec 2024 | 9:27 AM IST

Jaishankar was conferred the 27th SIES Sri Chandrasekarendra Saraswati National Eminence Award. The awards are given in four fields Public Leadership, Community Leadership, Human endeavour, Science

Updated On: 22 Dec 2024 | 9:17 AM IST

India opener KL Rahul got hit on his hand while batting at the nets here on Saturday and was promptly attended to by the visiting team's physio ahead of the fourth Test against Australia.

Updated On: 22 Dec 2024 | 9:17 AM IST

This surpassed the previous high of Rs 9,370 crore in 2023, showing robust growth driven by strong domestic demand amid expanding global opportunities

Updated On: 22 Dec 2024 | 9:17 AM IST

Goals from Jhon Duran and Morgan Rogers at Villa Park consigned the four-time defending champion to a ninth defeat in 12 games in a season that is unravelling.

Updated On: 22 Dec 2024 | 9:11 AM IST

With their victory, Mumbai City FC moved from the seventh place to the fourth spot in the points table, accumulating 20 points from 12 games with five victories.

Updated On: 22 Dec 2024 | 9:07 AM IST

Patna Pirates' chances of a top-two finish took a hit as Gujarat Giants held them to a 40-40 tie in an action-packed Pro Kabaddi League match on Saturday.

Updated On: 22 Dec 2024 | 9:03 AM IST

Three scenarios culminated in mutual annihilation, with both the US and China engaging in a nuclear exchange that decimated cities and resulted in millions of casualties

Updated On: 22 Dec 2024 | 8:53 AM IST

While the air remains hazardous in the national capital, it shows slight improvement compared to Saturday, when many areas of the city reported an alarming AQI of 434

Updated On: 22 Dec 2024 | 8:24 AM IST

The ISPR reported that on the night of December 19-20, security forces detected a group of terrorists attempting to infiltrate Pakistan from Afghanistan. Following an intense exchange of fire

Updated On: 22 Dec 2024 | 8:11 AM IST

Additionally, a blueprint for a developed, balanced, and comprehensive Maharashtra was outlined, informed by Chief Minister Devendra Fadnavis

Updated On: 22 Dec 2024 | 7:39 AM IST

While Japan is by no means alone in confronting a debt problem, salaries are the lowest of Group-of-Seven countries, and the central bank is raising borrowing costs while its peers cut them

Updated On: 22 Dec 2024 | 7:31 AM IST

Almost a decade after he left his reality TV role, Trump's television career remains central to his biography and political rise. The show presented Trump Tower to tens of millions of people

Updated On: 22 Dec 2024 | 7:18 AM IST

No More Data