FLOKI
Crypto Overview
Project Overview
FLOKI is a cryptocurrency project launched in 2021, named after Elon Musk's Shiba Inu dog. It operates on both Ethereum and BNB Chain through a cross-chain bridge.
Intended Utility
FLOKI positions itself as a community-driven ecosystem with multiple utility cases including: Valhalla (a metaverse game), FlokiFi (DeFi protocols), and an NFT marketplace. The project also emphasizes charitable initiatives through their University Blockchain Initiative.
Actual Utility Assessment
The project has demonstrated actual development of its promised utilities: The Valhalla game is in development with playable demos, FlokiFi has launched initial products, and various partnerships have been established with real-world entities. The token serves as the primary currency within these ecosystems.
Token Distribution and Governance
FLOKI implements a fair token distribution model with no pre-mine for founders. The project utilizes a DAO structure for governance, allowing token holders to participate in decision-making. Smart contract audits have been conducted by Certik and other security firms.
Development vs Marketing
While FLOKI maintains significant marketing presence, substantial development activity is evident through GitHub repositories and regular technical updates. The team has consistently delivered on roadmap items, suggesting genuine intent to build utility.
Revenue Model Analysis
The project generates revenue through ecosystem fees and NFT sales, avoiding interest-based mechanisms. The metaverse game implements play-to-earn features based on skill and effort rather than chance.
Crypto Impact
To assign a comfort level investing in FLOKI from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to FLOKI.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.