What is FLOKI?
- Author
- CRYPTO PORT Editorial
- Published
- Updated
- Reading time
- 4 min
In short
FLOKI is a memecoin created in 2021 after Elon Musk mentioned the name of his dog. It circulates on both Ethereum and BNB Chain, and the team behind it has shipped related projects including a game, NFTs and an education service. Its origin as a meme remains the defining fact about it.
Key points
- A dog-themed memecoin circulating on both Ethereum and BNB Chain
- A transaction tax is deducted and directed to development and marketing funds
- Related projects including a game, an NFT marketplace and an education service have shipped
- Known for large-scale advertising campaigns, including outdoor media
Definition
A dog-themed memecoin launched in 2021, circulating on multiple chains, with part of each transaction routed to project funds.
FLOKI is one of several dog-themed memecoins that emerged in 2021 following a celebrity mention. It sits in the same lineage as Dogecoin and Shiba Inu and launched as an ordinary token with no technical novelty of its own.
One distinguishing feature is a transaction tax: a set percentage is deducted on transfers and trades and routed to development and marketing funds. This is written into the token contract, so every movement carries an effective cost. Some exchanges handle deposits and withdrawals differently to accommodate it.
The team has shipped projects beyond the meme itself, including a blockchain education service, an NFT-based game and token issuance and staking tools. These services exist, though user numbers and revenue are not necessarily disclosed.
The scale of its marketing has been reported repeatedly — underground advertising and sports sponsorships among them. The size of a campaign, however, should be treated separately from any functional value of the token.
Watch out for
- · It began as a meme, and there is limited revenue or usage underpinning the price
- · The transaction tax means the amount received can be less than expected
- · It circulates separately on Ethereum and BNB Chain, and sending to the wrong network can lose funds
Frequently asked questions
Is Elon Musk involved?
No. A post mentioning his dog's name prompted the launch, but there is no disclosed involvement from him or his companies.