Floki Elon is a meme token inspired by the meme father, DogeCoin. Meme tokens are cryptocurrencies influenced by memes on the internet. Fans and members of the online DogeCoin community gave birth to the Floki Elon platform. FLOKIELON aims to save dogs by helping and donating to organizations as charity partners that shelter the dogs.
The platform has an integrated smart staking system specially designed to reward the token holders. With each transaction on the platform, more Floki Elon tokens are automatically added to the users’ wallets for holding the tokens via smart contracts. Token holders receive a 5 percent redistribution as a reward for holding the tokens from every transaction,. The platform also claims to be fast and has a block speed of five seconds.
FLOKIELON is the native token of the platform established on the Binance Smart Chain. FLOKIELON is a hyper-deflationary token. Deflationary tokens tend to reduce in total supply over time, and hyper-deflationary tokens have a high degree of deflation. The most familiar way to do reduce the token supply is by coin burning. Cryptocurrency burning is when a fraction of tokens are sent to a wallet with no private key. This means the tokens are lost forever. Tokens are usually burnt to reduce availability and increase market value.
Floki Elon has already burned 50 percent of the supply, and to keep this burning mechanism going, tokens are burned with every transaction. Out of the 5 percent redistribution, 50 percent goes to a dead wallet. The platform also has a charity wallet. Also, some tokens are redistributed to the charity wallet to support the charity partners.
Floki Elon also provides easy liquidity to the users as the liquidity pools on the platform are locked.
Floki Elon plans to partner with coin payments to allow merchants worldwide on e-commerce platforms to accept FLOKIELON as a payment mode via a Floki Elon Debit App.
