Floki developers have introduced a new trading bot for FLOKI holders on the BNB Chain network. This Telegram-based tool aims to enhance the token's fundamentals by charging a 1% fee on every transaction.
Floki developers have introduced a new trading bot for FLOKI holders on the BNB Chain network. This Telegram-based tool aims to enhance the token’s fundamentals by charging a 1% fee on every transaction. Notably, 50% of these fees will be used to purchase FLOKI on the open market, increasing the token’s demand and buying pressure.
Initially, the bot will be introduced to a select group of users during a beta testing phase to identify and fix any technical issues. Public availability is anticipated by mid-June. According to a developer known as B, the service will eventually expand to the Ethereum and Base blockchains. Users must hold FLOKI tokens to utilize the bot, further driving demand.
This new bot is part of a broader effort to integrate utility tools into the Floki ecosystem. The token, which was originally launched as a meme coin in 2021, has since rebranded as a utility token supporting various Floki-based protocols and products.
Telegram-based trading bots have been gaining popularity since early 2023, with similar tools like Unibot making it easier for users to trade tokens directly through the messaging app. These bots offer a simpler alternative to decentralized exchanges, reducing the need for constant wallet logins and high transaction fees.
Meme coin projects, including Solana-based Bonk, have also launched trading bots. BonkBot for example, was responsible for up to 70% of all on-chain trades on Solana at one point, contributing significantly to its trading volume. The popularity of these bots highlights their potential to drive substantial buying pressure within their respective communities.
Floki’s new trading bot represents a strategic move to enhance token demand and usability within its ecosystem. With the expected public release and future expansions to other blockchain networks, the bot could play a crucial role in solidifying FLOKI’s position in the cryptocurrency market.
FLOKI’s price increased 22% in the past 24 hours, trading at $0.0002783 at press time, indicating positive market reception and investor interest.
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