As a researcher with a background in blockchain technology and cryptocurrency markets, I’m excited about the latest development from the Floki team – the introduction of a new trading bot for FLOKI holders on the BNB Chain network. This Telegram-based tool is not only innovative but also strategic, as it aims to enhance the token’s fundamentals by charging a 1% fee on every transaction and using 50% of these fees to buy back FLOKI tokens on the open market.
Floe Technologies, the team behind FLOKI on the BNB Chain, has unveiled a fresh trading automation solution exclusively for FLOKI token owners via Telegram. Designed to bolster the token’s underlying value, this tool levies a 1% transaction fee.
Significantly, half of these fees are allocated for purchasing FLOKI tokens from the open market, thereby boosting its demand and exerting additional buying pressure.
At first, the new bot will be made available to a limited number of users for testing purposes before its official launch. This trial period is intended to address any technical glitches. The expected release date for the public is around mid-June. As shared by developer B, the bot’s functionality may be extended to both Ethereum and Base blockchains in the future. To make use of the bot, users need to own FLOKI tokens. This requirement should boost token demand.
— Floki ₿es🧙🏼♂️🟧 | ₿es Capital (@Besbtc) May 27, 2024
Integration with Other Blockchain Networks
As a crypto investor in Floki, I’m excited about the latest addition to our ecosystem – a new bot designed to enhance utility. When Floki first emerged as a meme coin back in 2021, it was all about fun and community. But since then, we’ve evolved, and now our token functions as a key component in powering various Floki-centric protocols and products. This bot is just one more way we’re integrating practical tools into our ecosystem to create value for holders like me.
Since the beginning of 2023, there has been a significant rise in the usage of trading bots on Telegram due to their accessibility and convenience. Tools such as Unibot allow users to execute token trades seamlessly within the messaging platform.
As a researcher exploring the world of cryptocurrency, I’ve come across some bots that present an alluring and less complex solution compared to decentralized exchanges (DEXs). These bots allow users to bypass the continuous requirement for wallet logins and the burden of high transaction fees. With their assistance, trading becomes more streamlined and hassle-free.
Meme coin projects like Bonk, which runs on the Solana blockchain, have introduced trading bots. At one stage, BonkBot accounted for approximately 70% of all trades conducted on-chain in Solana, noticeably boosting its overall trading activity. The widespread use of these bots underscores their capacity to generate considerable buying demand within their respective fan bases.
As a researcher studying the latest developments in the cryptocurrency market, I’m excited about Floki’s new trading bot. This strategic move aims to boost token demand and usability within their ecosystem. With the upcoming public release and plans to expand onto other blockchain networks, this bot could prove vital in strengthening FLOKI’s presence and competitive edge in the crypto market.
The cost of FLOKI rose by 22% over the previous 24-hour period, reaching a price of $0.0002783 as of now, suggesting a favorable market response and heightened investor attention.
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2024-05-27 19:49