DeFi
MemeFi Project Continues Building, Promoting
Floki has been on a tear in 2023, and a couple of ingredients to the Vikings’ success could be the MemeFi project’s continuing focus on utility as well as its conscious pivot to attract the attention of the awakening crypto market in China.
Recently, the FlokiFi Decentralized Finance (DeFi) locker hit its All-Time High in Total Value Locked (TVL), soaring to $31.5 million. As evidence of how quickly the locker protocol is being adopted, the new high-water mark was reached just days after FlokiFi had peaked at $17 million.
#FlokiFi Locker just hit a new peak ATH TVL of $31.5 million–greatly surpassing its previous highs!@FlokiFi Locker is a secure crypto token and LP locker protocol audited by Certik (🧵👇)
Lock your LP here: https://t.co/W79R4AYUOJ https://t.co/bHoJAnCUjA pic.twitter.com/APJSstvQkQ
— FLOKI (@RealFlokiInu) February 19, 2023
Floki core contributor B has been posting on Twitter about how “utility” is the project’s key focus, saying that FlokiFi “isn’t even the most impressive of Floki’s offerings” — compared to, for example, the Valhalla Metaverse GameFi project.
Further following up on this, $FLOKI had a project lock $10.8 million worth of its tokens in its #FlokiFi Locker protocol today.
This pushed the protocol’s TVL to $31.5 million, showing growing adoption of #Floki’s utility products in a bear market.https://t.co/C98XE5ESuR https://t.co/B8LpPaVAVW
— B (Da Viking) (@100bviking) February 19, 2023
As it relates to price action, hand-in-hand with any crypto project’s utility is its public exposure. Floki has also been on-point with its marketing, announcing a major effort to cater to gamers and investors in China, just before news broke that the government of one of the world’s most populous countries is thawing its frozen stance on crypto.
A Twitter thread from Floki’s main account highlights its approach to China.
China and Asia will lead the next explosive wave of #crypto growth — and the move from Hong Kong to legalize crypto further amplifies this considering it’s proximity to China!$FLOKI is well prepared for this move!
Here’s how we’ve positioned ourselves to benefit from this: https://t.co/AxDYniXa81
— FLOKI (@RealFlokiInu) February 17, 2023
The components of Floki’s strategy include:
- Partnership with the biggest crypto social media platform in China
- Unrevealed plan to “make sure every Chinese crypto user knows about #Floki”
- Upcoming China version of Valhalla; Chinese version of website; Chinese whitepaper
- 110,000-plus-strong Chinese Telegram group
- Floki trending on the Chinese social media platform Weibo
- Strategic positioning in other major Asian countries.
What is Floki:
Floki Inu began with a tweet from Elon Musk. When the billionaire announced he would name his Shiba Inu puppy Floki, it created a deluge of ‘Floki’ dogcoins. The most successful of these is Floki Inu. Floki Inu is currently the third most popular meme token on the market, behind Dogecoin and Shiba Inu. It is backed by a community of committed enthusiasts and a strong marketing campaign.
