Floki Inu Begins Transition Into DAO

The team behind meme coin, Floki Inu, has announced that it’ll be hosting a Twitter space to discuss its Nottingham upgrade later today.

Meme coin, Floki Inu, will be hosting a Twitter space later today to discuss its ‘Nottingham’ upgrade. The upgrade is part of Floki Inu’s transition into a Decentralized Autonomous Organization (DAO).

Floki Inu Begins Transition Into DAO

Inspired by Elon Musk’s tweet that his “Shiba Inu will be named Floki,” the meme coin launched on Ethereum and Binance Smart Chain in July 2021.

Set a reminder for our upcoming Space, ‘Nottingham Upgrade’ ? https://t.co/lpOUmc71ZQ

— Floki Inu (@RealFlokiInu) January 24, 2022

With a total supply of 10 trillion tokens, Floki Inu aims to become the top meme coin. According to its developers, this is possible due to its superior utility compared to other meme coins like Shiba Inu and Dogecoin.

Now, after less than a year in the market, the token developers have decided to begin transitioning Floki Inu into a DAO. According to the team, certain discoveries have led to this decision to migrate Floki Inu.

Firstly, the centralized nature of the token has caused many centralized cryptocurrency exchanges to not list Floki Inu. As a result, the token is only listed on decentralized exchanges like Uniswap and PancakeSwap. However, if Floki Inu were to upgrade into a DAO, this problem will be solved. In fact, several centralized exchanges have already listed Floki Inu and are even assisting with the upgrades.

Moreover, the upgrade will strengthen the token position and increase adoption. According to the team, DAO is the future of crypto, and becoming a DAO will only let the token key into this future in time.

During phase 1 of the upgrade, Floki Inu disabled trading, and centralized exchanges that listed the token also disabled deposits and withdrawals. Along with the upgrade to DAO, the token also upgraded its ETH and BSC contract addresses.

Floki Inu Plans NFT, Metaverse, And More

While Phase 1 now seems complete, it is sure that the platform has more plans in place. Floki Inu has already announced the launch of its Gemstone NFTs. The three non-fungible tokens are Aurum Gemstone of Truth, Diamond Mind Gemstone, and Ruby Heart Gemstone.

These NFTs have unique benefits for their holders, and the utility will keep growing as the community expands.

In addition to the NFTs and its DAO, the Floki Inu ecosystem also includes an NFT gaming metaverse called Valhalla, a marketplace called FlokiPlace, and a crypto educational platform called Floki Inuversity.

At the moment, the Floki Inu price is trading at $0.00003719, with the price dropping by more than 14% in the past 24 hours.

This article was originally posted on FX Empire