Key highlights:Staking allows holders to earn extra FLOKI just for staking their coins, so it's no wonder traders are feeling bullish To keep the staking rewards sustainable for the long run, Floki will debut a brand new sister token
Floki Inu (FLOKI), the meme coin inspired by Elon Musk’s Shiba Inu dog named Floki, has seen its price surge over 20% in the last 24 hours. This price boost comes right before the launch of FLOKI’s highly anticipated staking program on October 27, 2023.
The excitement around FLOKI staking
The FLOKI staking program has generated tons of enthusiasm amongst the meme coin’s holders and the larger crypto community. Staking allows crypto holders to earn passive income on their holdings by locking up their coins for a period of time. Crypto projects use staking as a way to secure their blockchains and reward loyal community members.
For FLOKI holders, the staking launch provides a way to earn additional FLOKI rewards just for holding the token. No wonder FLOKI prices have pumped in anticipation of the launch!
We will be launching the $FLOKI staking program on the 27th of October, 2023. To ensure a sustainable staking program, we will also be launching a sister token that #Floki stakers will earn as rewards. This token is a utility token that targets an industry with trillion dollar… pic.twitter.com/VRWJKUFeLd— FLOKI (@RealFlokiInu) October 25, 2023
Sustainable rewards through a sister token
To ensure a sustainable staking program, the FLOKI team will also be launching a sister token that stakers can earn as rewards. This new utility token will target an industry with trillion dollar potential, though details remain scarce. The main way to earn the sister token will be by staking FLOKI.
The FLOKI team plans to reveal more details about the sister token in the Valhalla metaverse tomorrow at 12pm UTC. The community is buzzing with speculation about what industry this new token could focus on.
The FLOKI team also warns that there will be no sister token presale. Any offers for early access are all scams. All official announcements will come through existing FLOKI communication channels.
How to avoid FLOKI staking scams
Here are some tips to avoid staking launch scams:Never send tokens, wallet details, or other sensitive information to unsolicited DMs - Real admins will never ask for this info. Double check account handles - Scammers often impersonate admin accounts with slight changes to the handle. Turn off the ability for non-contacts to add you to groups - This will prevent scammers adding you to fake groups. Watch out for "exclusive" staking offers - There is no presale or exclusive early access. Offers like this are guaranteed scams. Stay tuned to official FLOKI channels - This is where real information about staking and the sister token will be announced.
Sure enough, the price of FLOKI responded favorably to yesterday's announcement. In just 24 hours, the token skyrocketed over 20% as traders speculated on the potential rewards awaiting stakers. For a project still in its early phases, generating this level of excitement bodes well for Floki's ambitions of becoming a leading player in the metaverse space.