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DWF Labs, known for its role in the formation of the digital asset market and investments in Web3, took a bold step to increase its support for FLOKI by purchasing $10 million worth of tokens. This came after their initial $5 million investment in May 2023 and underscored their confidence in FLOKI’s potential to shake the crypto world. After this announcement, FLOKI soared to its highest in 9 months, reaching $0.00005097.
From Memes to DeFi
The official announcement states that DWF Labs will directly purchase tokens over the next two years to strengthen the FLOKI ecosystem. Despite the recent regulatory review of FLOKI’s high-yield staking programs by the Hong Kong Securities and Futures Commission (SFC), the project continues to show resilience.
Previously known as Floki Inu, FLOKI has been rebranded in a shift towards DeFi, reflecting a trend seen in meme coins like Shiba Inu, moving from memes to utility. However, such changes have been criticized by figures warning of potential risks that could emerge when investors broaden the roles of meme coins in the crypto market.
FLOKI maintains its commitment to compliance. In response to concerns raised by SFC regulators, various steps were taken to limit the participation of Hong Kong users in staking programs. Furthermore, FLOKI’s innovative strategy aims to reward its community by staking FLOKI tokens for TOKEN auxiliary tokens on TokenFi. This simple approach will reduce token inflation while offering attractive APY rates depending on TokenFi’s market performance.
Therefore, many experts believe that the partnership with DFW Labs is very crucial for Floki’s listing on major exchanges, connecting to effective projects, and supporting its success.
FLOKI ‘s Rise on the World Stage
In related news, the memecoin mania is now on a global scale. Since then, it has reached over 340 million viewers by being featured on China’s top sports TV channels. This impact strengthens FLOKI’s presence in the Chinese market. FlokiFi Locker reached a record TVL of $111 million, indicating widespread adoption.
The total of staked FLOKI tokens is currently $105 million, representing a significant portion of the token supply. FLOKI’s market cap approached $500 million with an increase of over 32% in the last 24 hours, while its trading volume rose to $204 million.
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