FLOKI (FLOKI) -rahakkeen tokenomiikka

The FLOKI token is a multi-utility, cross-chain asset (ERC-20 and BEP-20) designed to power the Floki ecosystem, which includes decentralized finance (DeFi) products, a metaverse game (Valhalla), and a crypto education platform (University of Floki). The tokenomics are structured to be deflationary through various buyback and burn mechanisms.

Issuance and Allocation Mechanism

Issuance and Supply

The Total Supply of FLOKI is 20 trillion tokens, split evenly across the Ethereum (ETH) and Binance Smart Chain (BSC) networks, with 10 trillion tokens on each chain.

• Total Supply (ETH): 10,000,000,000,000
• Total Supply (BSC): 10,000,000,000,000
• Total Combined Supply: 20,000,000,000,000

Allocation

The initial allocation of FLOKI was 100% vested at the Token Generation Event (TGE) and designated for the Community. The TGE date was June 21, 2021, with an initial amount of 10 billion tokens.

Deflationary Mechanisms (Burns)

While FLOKI does not implement burns at the contract level, its supply is designed to be perpetually deflationary through several automatic and manual buyback and burn mechanisms:

1. FlokiFi Locker Fees: The DeFi platform FlokiFi uses 25% of its ETH and BNB chain service fees to automatically buy back and burn FLOKI tokens. The remaining 75% goes to the Floki treasury.
2. Floki Card Fees: A 1.00% fee charged upon the creation of a prepaid gift card via Floki Card is used to buy back and burn FLOKI tokens.
3. Staking Penalties: Unstaking FLOKI before the chosen staking duration ends results in a penalty fee, which is automatically burned by the protocol.
4. Manual Burns: Notable manual burns have occurred, such as the burn of approximately 190.92 billion FLOKI on March 9, 2024, following a DAO vote.

As of the latest reported figures, the total burned supply across both chains is approximately 10.057 trillion FLOKI, resulting in a total circulating supply of approximately 9.265 trillion FLOKI.

Usage and Incentive Mechanism

FLOKI serves as the primary utility token across the Floki ecosystem, providing multiple functions and incentives for holders:

Utility and Medium of Exchange

• Floki Card: Used as a medium of exchange to purchase prepaid gift cards.
• FlokiFi Locker: Powers the protocol, with 25% of transaction fees used for buyback and burn.
• Valhalla (NFT Metaverse Game): Intended uses include:
  • Medium of Exchange for buying in-game items.
  • Rewards for battling (future feature).
  • Access: Users must hold a certain amount of FLOKI to make a character playable.
• University of Floki: The token will serve as the main utility token, required for certain functions within the crypto education platform, although most content will be freely accessible.
• Floki Name Service: Used in Floki’s decentralized domain name service.

Transaction Fees and Treasury Funding

• DEX Transaction Tax: A 0.3% tax is charged on every buy and sell transaction on decentralized exchanges (DEX).
• Treasury Funding: The funds collected from the transaction tax and 75% of FlokiFi Locker fees go to the Floki treasury. These funds are used for further development of the Floki Ecosystem and marketing activities aimed at ensuring adoption.

Staking and Rewards

• Staking Mechanism: Tokenholders can stake FLOKI to earn rewards in TOKEN, Floki's sister/reward token.
• Reward Source: Rewards are sourced from a dedicated allocation of 5.60 billion TOKEN (56.00% of the total TOKEN supply).
• Staking Durations and APY (Ethereum Example): Users can choose from four staking durations, with rewards increasing for longer commitments.
  • 3 months: ~11.32% APY
  • 1 year: ~18.12% APY
  • 2 years: ~27.18% APY
  • 4 years: ~36.23% APY

Governance

• Floki DAO: FLOKI is used to participate in the project’s governance via offchain Snapshot proposals. Tokenholders can vote on matters such as altering ecosystem offerings and allocating Treasury funds.

Locking Mechanism and Unlocking Time

Staking Lock-up

FLOKI tokens are locked when staked in the staking program, with lock-up periods ranging from 3 months up to 4 years (48 months). This mechanism has resulted in a significant portion of the circulating supply being locked, with reports indicating over 20% of the total FLOKI supply has been locked for up to 4 years.

Early Unstaking Penalties

To incentivize long-term holding, unstaking FLOKI before the chosen duration is complete incurs a penalty fee, which is automatically burned:

Liquidity Lock

The liquidity for FLOKI on both the Ethereum and Binance Smart Chain networks is locked for an extended period of 265 years, providing long-term stability for the token's liquidity pools.

Initial Allocation Unlock

The initial community allocation of 10 billion tokens was 100% vested at the TGE on June 21, 2021, meaning the tokens were instantly unlocked at that time.