- The staked amount was nearly 25% of FLOKI’s circulating supply.
- Over $350 million worth of TOKEN has been staked.
More than $2 trillion worth of Floki [FLOKI] tokens have been deposited on the platform’s staking program in less than three months since it went live.
Users stake FLOKI for yields
AMBCrypto tracked Floki’s official staking portal and noticed around $1.4 trillion deposited on Ethereum [ETH] and a trillion locked up on the BNB Chain [BNB].
The staked amount equated to nearly 25% of FLOKI’s total circulating supply, meaning that a sizable chunk of the meme coin now lies off-limits for market traders.
The mad rush to stake coins was driven by Floki’s new asset tokenization platform TokenFi [TOKEN]. The sister project was launched to capture a slice of the growing industry which involves representing real-world assets as tokens on a blockchain.
The market was anticipated to expand to $16 trillion by 2030.
When users stake their FLOKI tokens, they earn TOKEN as a reward. In fact, more than half of TOKEN’s supply was reserved for those who stake their FLOKI tokens for a minimum duration.
The longer the staking duration, the higher the annual percentage yield (APY) earned. As of this writing, the staking APY for three months was 28.66%, increasing to as much as 91% for a locking period of four years.
Author: Aniket Verma
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