WEB3
by BSCN
November 24, 2023
TokenFi's whitepaper serves as a definitive guide, offering a deep understanding of the innovative concepts driving the project's future.
Floki's TokenFi has captivated enthusiasts and investors, since its unveiling on October 27. The core of TokenFi's offering is its native token, $TOKEN, which is now actively traded on multiple centralized exchanges.
TokenFi, according to Floki, is an all-encompassing tokenization platform that lets users easily create tokens and tokenize assets. Its simplicity lies in its What You See Is What You Get (WYSIWYG) interface that does not require coding knowledge.
In addition to enhancing liquidity, it reportedly facilitates connections with exchanges and market makers, marking a major step forward for the entire Floki ecosystem. TokenFi launched on five networks: Ethereum, BNB Chain, opBNB, Base, and Arbitrum.
Let's explore the various offerings of TokenFi, exploring the features, vision, and potential it holds in reshaping the tokenization landscape.
TokenFi Token Launcher redefines the token creation process, making it accessible to retail users and those without a developer background. It reportedly takes 1-2 minutes to launch audited ERC-20/ERC-721/ERC-1155 tokens on top of EVM blockchains - no coding required. With plans to cover all major EVM blockchains in the near future, Floki's vision extends beyond the original five blockchains.
The TokenFi QuickLaunch Bot allows users to create tokens easily through Telegram and Discord. Simple commands initiate token creation across top EVM blockchains, offering convenience at the user's fingertips.
TokenFi LaunchPad offers a decentralized fundraising avenue, initially launching on ETH, BNB, Base, Arbitrum, and opBNB chains. This platform reportedly mitigates technical complexities, providing a secure space for token creators to raise funds. Moreover, FlokiFi Locker integration enhances token security, further solidifying LaunchPad as an integral component of TokenFi's ecosystem.
TokenFi Generative AI harnesses the power of artificial intelligence to simplify NFT creation. Users can generate high-quality artwork for their NFTs within the TokenFi app, eliminating the need for expensive artists.
TokenFi's smart contracts undergo auditing by security auditor Certik. The TokenFi AI Smart Contract Auditor allows users to perform instant audits, generating branded reports for enhanced trust.
TokenFi Connect facilitates seamless connections between token creators and key industry players. Market makers, exchanges, funds, and influencers become accessible, providing deeper liquidity and broader reach for tokens.
Designed for non-security Real World Assets (RWA), the TokenFi RWA Tokenization Module provides a swift and efficient means to tokenize tangible assets. Leveraging Chainlink Proof of Reserves (PoR) and the Chainlink Cross-Chain Interoperability Protocol (CCIP), TokenFi opens new possibilities for tokenizing assets beyond the digital realm.
Users can earn $TOKEN rewards by staking their TokenFi tokens through the TokenFi Staking Program. TokenFi tokens can be staked for three months, one year, two years, and four years on the BNB and ETH chains. Staking for longer periods will yield better rewards.
In the initial launch of the TokenFi token, 7% of the total $TOKEN supply was allocated to the Staking Program.
At the core of TokenFi's ecosystem is the primary utility token, $TOKEN. Every transaction within the TokenFi platform is conducted through $TOKEN, where a strategic portion of each successful transaction is directed towards buying and subsequently burning $TOKEN.
Of particular significance is the TokenFi User Incentives System, allocating 5% of the total $TOKEN supply to accelerate platform adoption. At the current fully diluted valuation of $250 million, the User Incentives Reward stands at $12.5 million, distributed over four years.
This system rewards users engaging in various platform activities, including token launches, fundraising, AI Contract Auditor usage, connections through TokenFi Connect, Real World Asset tokenization, referrals, and institutional engagements.
The TokenFi User Incentives System operates on a points-based model, allowing users to accumulate points through diverse platform activities. These earned points can then be exchanged directly for tokens within the platform.
TokenFi's 48-month distribution period reportedly ensures a balanced and sustainable approach to user rewards, aligning with its commitment to avoiding rapid token issuance.
$TOKEN is trading at $0.02694, down 8.7% in the last seven days.
Disclaimer
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCN. The information provided in this article is for educational and entertainment purposes only and should not be construed as investment advice, or advice of any kind. BSCN assumes no responsibility for any investment decisions made based on the information provided in this article. If you believe that the article should be amended, please reach out to the BSCN team by emailing [email protected].
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