اقتصاد توکنی FLOKI (FLOKI)

FLOKI is a multi-utility token that operates as the primary medium of exchange within the Floki ecosystem, which includes decentralized finance (DeFi) products, an NFT metaverse, and educational platforms. The token is cross-chain, available on both the Ethereum (ERC-20) and BNB Smart Chain (BEP-20) networks.

Issuance and Supply Mechanism

The FLOKI token was created on June 25, 2021, following a tweet by Elon Musk. The total supply of FLOKI is capped at 10,000,000,000,000 (10 trillion) tokens. However, due to the project's multi-chain nature and historical migrations, the supply is distributed across Ethereum and BNB Smart Chain.

The protocol employs a perpetually deflationary issuance model through several buyback and burn mechanisms rather than a traditional minting schedule.

Note: Approximately 0.678 Trillion tokens on ETH are considered out of circulation.

Allocation and Usage Mechanism

FLOKI serves several functional roles across its ecosystem products:

• Medium of Exchange: Used to purchase items in the Valhalla NFT Metaverse and to buy prepaid gift cards via Floki Card.
• Transaction Fees: A 0.3% tax is charged on every buy and sell transaction on decentralized exchanges (DEXs). These funds are directed to the Floki treasury for ecosystem development and marketing.
• Governance: Tokenholders can participate in the Floki DAO by voting on proposals via Snapshot.
• Utility Access: Certain functions within the University of Floki and access to playable characters in Valhalla require holding or using FLOKI tokens.

Incentive and Staking Mechanism

The primary incentive for holding FLOKI is the staking program, which allows users to earn rewards in TOKEN (the utility token of TokenFi).

• Reward Sourcing: Rewards are sourced from an allocation of 5.60 billion TOKEN (56% of the total TOKEN supply) dedicated to FLOKI stakers.
• Staking Durations: Users can choose between four durations: 3 months, 1 year, 2 years, or 4 years.
• Yields: APYs vary by chain and duration. For example, on Ethereum, APYs range from approximately 11.32% for 3 months to 36.23% for 4 years. On BNB Smart Chain, they range from 11.86% to 37.94%.

Locking and Unlocking Mechanism

FLOKI utilizes long-term locking to ensure ecosystem stability and deflationary pressure.

Locking Mechanisms

• Liquidity Locks: Liquidity is locked for 265 years on both the Ethereum and BNB Smart Chain networks.
• Staking Locks: As of late 2023, over 25% of the total FLOKI supply was locked in the staking program for durations up to 48 months.
• FlokiFi Locker: A dedicated DeFi product that allows users and projects to lock LP tokens, fungible tokens, and NFTs.

Unlocking and Penalties

While rewards can be claimed at any time, unstaking FLOKI before the chosen duration ends results in a penalty fee. These penalty tokens are automatically burned by the protocol.

Deflationary Burn Events

The protocol reduces supply through transactional burns:

• FlokiFi Locker: 25% of service fees are used to buy back and burn FLOKI.
• Floki Card: 1% of prepaid card top-up fees are used for buybacks and burns.
• Manual Burns: Significant manual burns have occurred, such as the burn of approximately 190.92 billion FLOKI in March 2024 following a DAO vote.