Share this article
Floki Developers Propose Staking and Utility Token Plans
The move could help amp up investor interest in FLOKI tokens, which form part of the Floki DAO ecosystem.
Updated Oct 18, 2023, 1:21 p.m. Published Oct 18, 2023, 1:00 p.m.
Make us preferred on Google
developers plan to introduce a staking feature in return for a new utility token, chief developer “B” told CoinDesk in a Telegram message on Wednesday. The staking feature and the new token will increase investor interest in the Floki ecosystem.
The main way to earn the new yet-unnamed token will be by staking FLOKI tokens, which exchanged hands at $0.000017 as of publication time. There won’t be any pre-sale or fundraising for these tokens, and most of the supply can only be earned by staking FLOKI.
STORY CONTINUES BELOW
“Users will be able to earn the reward token by locking up their FLOKI tokens for a period of between 3 months to 4 years,” B said in the DAO proposal shared with CoinDesk. “We envision this resulting in a significant portion of FLOKI tokens being locked up for an extended period of time, which will significantly reduce the amount of FLOKI tokens in circulation and add significant value to the FLOKI token.”
Staking refers to locking tokens on a platform in return for annualized yield rewards - which may attract investor capital.
The project had hired several new developers to ensure that other Floki-based projects weren’t affected and that the tokenomics of the new token was designed to “ensure long-term development sustainability for this project,” B added.
Floki was fashioned after the popular Shiba Inu dog breed, which spurred the development of popular tokens like and shiba inu . Dog-themed coins were the hottest tokens in 2021 and surged nearly 10,000% during a nine-month period.
The hype, however, fizzled out as a broader crypto bear market weighed down on riskier bets, leading to tokens such as FLOKI to fall as much as 94% from their peak.
Floki developers have since worked on building fundamental protocols within the FLOKI ecosystem to shed the project’s meme coin tag towards a serious DeFi project. Earlier this year, developers released the first part of a metaverse game where players can interact with each other, conduct microtransactions and create a valuable in-game economy.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Deus X CEO Tim Grant: We aren't replacing finance; we're integrating it
The Deus X CEO discussed his journey into digital assets, the company's infrastructure-led growth strategy, and why his Consensus Hong Kong panel promises "real talk only."
What to know:
- Tim Grant entered crypto in 2015 after early exposure to Ripple and Coinbase, drawn by blockchain’s ability to improve traditional finance rather than replace it.
- Deus X combines investing and operating to build regulated digital finance infrastructure across payments, prime services, and institutional DeFi.
- Grant will be speaking at Consensus Hong Kong in February.
Top Stories
