Key Points:
- Floki launched a trading robot on the BNB Chain network.
- The robot is set for public release in mid-June, with plans for Ethereum and Base blockchains.
- Floki has evolved from a meme coin to a utility token.
The Floki Telegram trading bot allows FLOKI holders to trade on the BNB Chain network. According to CoinDesk, 50% of transaction fees are used to buy FLOKI, boosting its demand and value.
Floki developers have released a Telegram-based trading robot targeting FLOKI holders. The bot operates on the BNB Chain network, charging a 1% transaction fee. Interestingly, 50% of the collected fees will go toward buying FLOKI on the open market.
Floki Telegram Trading Bot: A New Development
Initially, the trading robot was available to a limited group of users as a Beta test version. Developers expect a public release in mid-June. The expansion of this service to the Ethereum and Base blockchains is in the pipeline.
The trading robot tool makes it possible for FLOKI holders to trade any token on the BNB Chain network. The release of the bot is part of a scheme to increase the demand for FLOKI tokens, as users can only use the bot by holding the coin.
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Floki continues to build out its ecosystem, providing a range of utility tools and a metaverse. Initially launched in 2021 as a meme coin themed around the Shiba Inu dog breed, Floki has since pivoted to become a utility token powering Floki-based protocols and products.
Impact of Trading Bot on FLOKI Token Demand
Telegram-based trading bots like Unibot, launched in early 2023, have gained traction. These bots have the advantage of making it easy for their users to trade tokens in the simplest form, just like chatting via the messaging app.
The ease of use of such products compared to a decentralized exchange like Uniswap is immense. Users avoid the constant login to their wallets, cross-checking the token information, and exposing them to high fees.
FLOKI prices are up 23% in the last 24 hours in what looks like a welcome of the above-mentioned developments.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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