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Floki Team Introduces New Trading Bot to Boost Token Utility

Key Takeaways

  • Floki's new trading bot for the Ethereum, BNB Chain, and Base blockchains aims to boost FLOKI token demand and utility;
  • The bot charges a 1% fee, with 50% used to buy FLOKI, increasing buying pressure;
  • The bot's ease of use over decentralized exchanges drives its appeal and potential success.
Floki Team Introduces New Trading Bot to Boost Token Utility

The Floki development team has launched a new trading bot designed for FLOKI holders, enabling them to trade any token on Ethereum, BNB Chain, and Base blockchain mainnets.

This Telegram-based bot will initially be accessible to a limited group of users for beta testing, aiming to fix any technical issues and collect user feedback. The bot is anticipated to be publicly available by mid-June.

Developers believe this new tool will boost demand for FLOKI tokens, as holding the coin will be a requirement to use the bot.

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The bot will charge a 1% fee on each transaction, with half of the collected fees used to purchase FLOKI tokens on the open market, thereby generating buying pressure and potentially increasing the token’s value.

This trading bot is part of an effort to transform the Floki ecosystem, which began as a memecoin inspired by Elon Musk's Shiba Inu dog, Floki. Over time, it has rebranded into a utility token supporting various Floki-based protocols and products, including a range of utility tools and a metaverse project.

Since the announcement of the new trading bot, FLOKI prices have increased, rising by over 6% in the past 24 hours.

Telegram-based trading bots have been gaining traction since early 2023. These automated tools allow users to trade on decentralized exchanges (DEX) through messaging on Telegram, eliminating the need for users to repeatedly log into their wallets, verify token details, and endure high transaction fees.

The integration of a user-friendly trading bot is expected to drive sustained demand and strengthen the token’s fundamentals, capitalizing on the growing trend of Telegram-based trading bots and addressing the needs of the crypto community.

FLOKI has previously made the headlines after it was added to Revolut's tradable assets.

Aaron S. , Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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