Binance, the world’s largest cryptocurrency exchange, has announced that it has launched staking for Floki (FLOKI), a meme-themed dog coin inspired by Elon Musk’s Shiba Inu. Users can now earn up to a 35.9% annual percentage rate (APR) by locking their Floki tokens on the Binance Simple Earn program.
Complete your subscriptions to receive boosted APR rewards of up to 35.9% 🤝
Don't miss out ⤵️
— Binance (@binance) November 2, 2023
According to the announcement, the promotion period for Floki staking will last from November 2, 2023, at 10:00 UTC to December 2, 2023, at 9:59 UTC. Users can choose from different lock-up durations, ranging from seven days to 90 days, and receive increased APR rewards depending on the length of the lock-up.
Regarding the option of early redemption for Locked Products subscriptions, it’s important to note that subscribers have the flexibility to opt for an early withdrawal of their assets. However, once this option is selected, the digital assets will be transferred back to the user’s spot account and they will forfeit any potential rewards.
If any rewards have already been distributed, these will be subtracted from the principal amount that is returned. Please be aware that the process of receiving the digital assets back into the spot account may take between 48 to 72 hours.
Floki is a community-driven project that aims to combine memes with utility. It is working on four flagship products: Valhalla, a gaming metaverse with NFTs; FlokiFi, a suite of decentralized finance products; FlokiPlaces, a marketplace for NFTs and merchandise; and University of Floki, a content and education platform.
The Team Behind Floki Inu Is Happy to be Listed on Binance
The Floki team expressed its pride in working with Binance, the most trusted and well-known crypto brand in the world. They also said that Floki has over 400,000 holders and has been listed several times among the top 10 social engagement leaders on LunarCrush.
Floki is currently trading at $0.00003235, up by 3.6% in the last 24 hours. It has a market capitalization of $339 million and ranks as the 99th largest cryptocurrency by CoinMarketCap.