Floki Inu’s transition to a started on Saturday, Jan. 22, 2022, at 8 am UTC, with support from multiple exchanges.
Floki Inu announced upgrades to FlokiDAO on Jan. 18, 2021. Phase 1 of the upgrade commenced at 8 am UTC on Saturday, Jan. 22, 2022. The decision to Floki Inu into a Decentralized Autonomous Organization (DAO) comes from several key findings. Firstly, centralized exchanges cited Floki Inu’s centralized nature as a key detractor when asked to list it. Secondly, the migration to a DAO positions the token strongly.
Thirdly, it means wider adoption, and lastly, statistics show that the future of crypto is the DAO. Most centralized exchanges that have recently listed FLOKI (it was previously only listed on PancakeSwap and Uniswap) supported the upgrade to a DAO. Floki Inu holders that have their tokens in a custodial exchange did not need to take any action during and after the upgrade.
announced that FLOKI trading had been disabled on Ethereum Smart Chain. They also, at this point, took a snapshot of those who held the token. All centralized exchanges with FLOKI holders disabled deposits and withdrawals until the upgrade finished.
All upgraded smart contract addresses will be made public before the upgrade is completed. This will be done to prevent scammers from fooling those eagerly awaiting the changes brought by the upgrade. At approximately 8:36 am UTC, Floki people not to entertain messages from those claiming to hold upgraded contracts. The two upgraded contract addresses for Ethereum and BINANCE Smart Chain are https://etherscan.io/address/0xcf0c122c6b73ff809c693db761e7baebe62b6a2ehttps://bscscan.com/token/0xfb5b838b6cfeedc2873ab27866079ac55363d37e
Exchanges That List Floki
Exchanges StealthEXDAVOS CRYPTOS all supported the upgrade. protocols Barnbridge and Inverse Finance also were supported, but other protocols were not. For those who took out loans on Inverse Finance, Floki gave them time to pay the loans to avoid liquidation when the upgrade took place.
FLOKI Looking For More Utility Compared to SHIB
by BeInCrypto regarding whether Floki Inu’s goal is to overturn its meme-coin competitor Shiba Inu, the marketing head said, “That’s the goal. We really believe that next year we’re going to have more utility than Shiba…” He added that the primary purpose of Floki Inu is not to compete with Shiba Inu, but more to develop and improve Floki Inu.” Floki was recently called upon to answer for Floki Inu advertisements in London, which were thought to violate advertising laws.
