What is the Floki Inu coin?

The birth of the Floki Inu coin can be traced back to June 2021, when Elon Musk tweeted that he would be naming his pet Shiba Inu “Floki.” Initially, the project started as a dog-themed meme coin, much like Dogecoin, and was known as Floki Inu.

What is Floki (Floki)?

Floki (FLOKI) is the people's cryptocurrency and the utility token of the Floki Ecosystem. It is a cryptocurrency birthed by fans and members of the Shiba Inu ( SHIB) community and is inspired by (and named after) Elon Musk’s Shiba Inu. Musk is a prominent fan of Dogecoin, although he publicly denied owning any SHIB.

What are Floki tokens?

The token associated with the project, FLOKI, is a multi-chain token that operates on both the Ethereum and Binance Smart Chain (BSC) blockchains, as it is both ERC-20 and BEP-20 compliant. FLOKI tokens can be bridged between the two chains easily, allowing FLOKI holders to use either blockchain to store and transact with their tokens.

What is the tax on Floki?

It is worth noting that FLOKI has an encoded 3% tax imposed on buying and selling the token but not on the transfer between the two chains. This tax is directed to the Floki Inu treasury, which the project claims will be used to develop the ecosystem further and increase the adoption of Floki.