In the October 2023 Floki AMA, the Floki Core team member, @100bviking, answered various questions from the community.
They expressed their gratitude to community members for submitting their questions and gave thanks to DWF Labs for deepening their engagement with Floki. The team member also mentioned upcoming plans for Floktober and hinted at a strong interest from institutional investors.
New updates
When asked about the progress on the roadmap, the team member assured that they intend to deliver on all their promises, with updates expected during Floktober.
Regarding Certik’s evaluation of Floki’s fundamental health, the team member highlighted ongoing discussions with Certik to enhance security. Floki’s ranking as the 31st most secure project in crypto was mentioned, and the team expects the score to improve as they implement Certik’s recommendations.
The team member discussed the development of the University of Floki platform, stating that while it is advanced, it will take some time for content to populate. They also welcomed contributions from community members who can provide valuable content.
Figures regarding Flokifi protocol, such as total burnt Floki and the number of projects using the protocol, were not provided at the time of the AMA. However, the team is working on a dashboard to make such data easily accessible in the future. Upcoming upgrades to the protocol were mentioned, which are expected to benefit investors by enhancing features like the referral program and supporting advanced LP, resulting in more utility for the FLOKI token.
When asked about the financial status of Floki, the team member explained that they have not shared financial details due to NDAs with marketing deals and partners. However, they mentioned that this information would be shared as Floki progresses towards becoming a full DAO.
The decision to reduce the tax from 3% to 0.3% was considered a success. It helped lower the barrier to entry for the FLOKI token, created momentum even during the bear market, increased overall trading volumes, and enabled major exchange listings. The team member emphasized that a high tax rate is meaningless if there is no significant trading volume.
DOGE, SHIB competitors?
Addressing the competition in the meme coin market, the team member highlighted Floki’s unique positioning. They believe Floki is more than just a memecoin, as they focus on fundamentals, utility, and creating sustainable value. Strategic partnerships and strong brand positioning were also mentioned as factors that differentiate Floki.
When asked about the problems Floki aims to solve in the crypto world, the team member explained that their goal is to be the bridge for mainstream retail crypto adoption. Solutions like Valhalla, Project TL, and Mystery Project were mentioned as key components in this endeavor.
Regarding the pace with which Floki keeps up with technology trends, the team member acknowledged their efforts to be early adopters. They mentioned working on adapting to more trends and aiming to ship products faster.
As for the mystery project, it is being worked on, and the team member expressed their excitement about it. They hinted that some products might be more intertwined than people realize.
Regarding bridging the gap between traditional and blockchain gamers, the team member emphasized the advantage of Valhalla being developed for a retail community. They mentioned incorporating retail feedback into game development in real time and the efforts to make Valhalla enjoyable to play. The team member expressed confidence in their marketing strategies to ensure mainstream adoption.
The idea of creating Floki’s own blockchain or a Layer 2 solution was considered, but the team member noted that it would require bringing something unique and innovative to the table.
Genesis NFT holders were assured that they will have advantages outside of Valhalla, particularly when staking is launched soon.
FLOKI transfers 15.8 billions to Binance
Floki Inu has transferred a staggering 15.8 billion tokens to a Binance address linked with DWF Labs. This move comes amid allegations of market manipulation against DWF Labs.
Independent journalist Wu Blockchain highlighted this massive transfer. The tokens were transferred from Floki’s official multi-signature address to Binance via a new address.
The same Binance deposit address has been frequently used by DWF Labs for transactions involving various tokensĀ such as BLZ, DODO, ID,Ā and others. This has spiked the community’s curiosity due to DWF Lab’s sudden surge in on-chain activity and large-scaleĀ token transactions involving FRONT andĀ BLZ.