The developers of TokenFi, a sister project of the meme coin FLOKI, have put forward a proposal that could represent a major upgrade to the TokenFi launchpad. This proposal aims to prioritize $TOKEN stakers and holders within the ecosystem.
Floki And TokenFi Developers Propose “Supercharge Program” This proposal, which aims to launch the “TokenFi Launchpad Supercharge Program,” will give $TOKEN stakers and holders a “priority within the TokenFI launchpad.” The launchpad is a decentralized platform that allows anyone to launch and raise funds for their tokens. As part of the ecosystem’s tradition, they usually put forward some of the best token launches to the TokenFi/Floki community.
However, they are looking to go one further with this proposal as they have now realized that some token sale events get sold out within minutes without the community actually benefitting from it. Therefore, they propose, through the “supercharge program,” that these $TOKEN stakers should get a headstart in these token sale events.
That means these stakers will have the opportunity to purchase these tokens even before the general public gets wind of it. However, there is a caveat as only those who have $1,000 worth of $TOKEN staked will be able to participate in the program. Meanwhile, those who have staked more $TOKEN and for a longer period will enjoy a larger share of the allocation from these token sales.
$TOKEN Holders To Also Get Priority Furthermore, the developers have proposed that $TOKEN holders should also get a headstart over the general public in the event that the stakers do not purchase all the available token allocations within the set time. Similar to the stakers, holders will also need to hold $1,000 worth of $TOKEN to participate in this program.
Those with a larger $TOKEN holding will also likely enjoy a greater chunk of the remaining allocation. However, the proposal noted that holders would generally get smaller allocations than stakers.
If this proposal eventually passes, those who do not stake or hold $TOKEN might not be able to participate in hyped token launches on the launchpad. This is because stakers and holders are likely to buy all the available allocations for the token sale even before it gets to the general public.
The TokenFi team added in the proposal that if the proposal passes, the program will be executed as soon as possible. This will be done “ideally within a few days after its passage,” they claimed.
At the time of wriitng, TOKEN is trading at around $0.1518, down over 6% in the last 24 hours according to data from CoinMarketCap.
FLOKI price struggles at $0.0002 | Source: FLOKUSDT on Tradingview.com Featured image from Coin Edition, chart from Tradingview.com
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Scott Matherson Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.