image

Floki Inu

About Floki Inu

Facebook IconLinkedIN Icon

What is Floki Inu ?

In September 2021, Tesla and SpaceX CEO Elon Musk shared an image of his pet known as 'Shiba Inu' on Twitter with the caption ‘Floki has arrived’.
 
The meme cryptocurrency coin 'Floki Inu' based on the name of the pet, rose by 1,000 per cent only in two days and rallied about 1,500 per cent in just 72 hours since inception. Eventually, more Floki-themed coins such as FlokiPup Inu, Baby Floki Inu, Shiba Inu, and Floki Shiba Inu also saw an increase in value after Musk's tweet.
 
Floki is the same breed as Musk's bitcoin currency -- Dogecoin.
 
How did the Floki crypto coin come into existence?
 
In June 2021, Elon Musk tweeted "My Shiba Inu will be named Floki" and from there, the concept of creating the Floki Inu came into existence.
 
How does Floki Inu work?
 
Floki Inu was launched on the Ethereum (ETH) blockchain and it is one of the few crypto coins that provide the multi-chain protocol feature.
 
The meme-based crypto coin is hosted on both the Binance Smart Chain (BSC) and Ethereum. Floki Inu has a total circulating supply of 9.17 T across the ETH and BSC chain combined and has a total circulating market capitalisation (m-cap) of $597.01 million across the ETH and BSC chains.
 
Rewards
 
Floki Inu holders have the facility for holding Floki coin tokens to earn rewards. At least 4 per cent rewards are given to Floki holders on the ETH and BSC blockchains when a holder swaps a token on a crypto exchange. The reward percentages may vary depending on future upgrades.
 
The Floki Inu token is hyper-deflationary, which means that a rise in the size of the burn wallet also increases the reflationary rewards for Floki holders. Gradually, the decline in circulating supply increases the demand for Floki and its price.
 
Usage
 
Floki provides real-world utility in terms of usage. The cryptocurrency coin can be used to buy items from offline stores through its partnership with CryptoCart (CC). Floki holders can also pay for goods on the XCUR platform.
 
Other utilities in the future may include several features like buying NFTs, gaming, and paying for services and goods.
 

Here are the latest news from Business Standard

Latest News

Iranian commercial vessel hit near Strait of Hormuz, 1 killed, 3 injured

An Iranian commercial vessel was struck near Qeshm Island in the Strait of Hormuz, killing one person and injuring three others, according to state media

Updated On: 13 Sep 2026 | 11:49 AM IST

Weaponising critical minerals can hinder common growth: PM Modi at Brics

PM Modi said Brics must strengthen resilient supply chains and inclusive technology access, warning that critical minerals weaponisation could impede shared growth

Updated On: 13 Sep 2026 | 11:46 AM IST

Orkla India CEO backs FSSAI's push for front-of-pack labels on food

Sharma said rising consumer awareness makes it important to provide adequate information to help consumers make informed choices about the products they consume

Updated On: 13 Sep 2026 | 11:32 AM IST

CSIR-IMMT-led consortium to develop first 100% hydrogen DRI pilot plant

The 20-tonne-per-day pilot project has received in-principle approval from the Ministry of Steel and the Ministry of New and Renewable Energy

Updated On: 13 Sep 2026 | 11:25 AM IST

ITC expects Aashirvaad to double consumer spends to ₹20,000 cr in 5 years

ITC expects consumer spending on Aashirvaad to double to ₹20,000 crore in five years as it expands beyond atta into ready-to-cook foods, frozen snacks and other categories

Updated On: 13 Sep 2026 | 11:25 AM IST

Russia imports record fuel from India as Ukraine strikes hit refineries

India supplied 70 per cent of Russia's oil product imports in August, including 120,000 tonnes of gasoline worth 78 million euros, CREA said in its monthly analysis

Updated On: 13 Sep 2026 | 11:20 AM IST

Agri-inputs maker SML weighing IPO in 2-3 yrs to fund new chemical entities

SML is evaluating a stock market listing in the next two to three years to fund costly new chemical entities, while expanding its crop nutrition and protection businesses

Updated On: 13 Sep 2026 | 11:10 AM IST

Manipal Hospitals scouts for acquisitions in Andhra, Keralam, Delhi-NCR

The healthcare major is actively evaluating strategic opportunities in Telangana, Keralam, Andhra Pradesh, and Chhattisgarh to selectively deepen its presence in identified markets

Updated On: 13 Sep 2026 | 11:05 AM IST

Dish TV hopes for a turnaround aided by smart TV VZY, ecom, content hub

Dish TV, which reported a drop of 25.84% in its revenue to ₹1,162.61 crore along with a negative EBITDA in FY26 is diversifying its operations in a bid to recover

Updated On: 13 Sep 2026 | 11:04 AM IST

FPIs withdraw ₹13,138 crore from equities in Sep amid global uncertainty

The latest outflow comes after Foreign Portfolio Investors (FPIs) turned net buyers in July and August, infusing ₹20,200 crore and ₹29,630 crore, respectively

Updated On: 13 Sep 2026 | 10:58 AM IST

RBI asks Tata Sons to list: A timeline of the long regulatory tussle

RBI's directive for an immediate listing marks a turning point in a dispute spanning Tata Sons' private status, upper-layer NBFC classification and failed deregistration bid

Updated On: 13 Sep 2026 | 10:57 AM IST

Delhi to see rain, thunderstorms as IMD forecasts showers across India

Delhi is likely to receive rain and thunderstorms on Sunday, while the IMD has forecast widespread rainfall with heavy to very heavy showers in several parts of the country

Updated On: 13 Sep 2026 | 10:54 AM IST

Ban on flexi-loans: Should RBI be flexible?

The defining feature of a flexi-loan is amortisation, not revolveability. Instead of a blanket ban, the regulator may consider certain structural safeguards against evergreening

Updated On: 13 Sep 2026 | 10:50 AM IST

Deccan Gold opens Altyn Tor plant, marks overseas production milestone

Operated through Deccan Gold's Kyrgyz subsidiary Avelum Partner, Altyn Tor has progressed from exploration and development to production

Updated On: 13 Sep 2026 | 10:47 AM IST

Anthropic CEO calls for slower AI model development amid rising risks

Dario Amodei warned that fast-improving AI models could raise risks of loss of control, cyberattacks, bioterrorism and economic disruption

Updated On: 13 Sep 2026 | 10:44 AM IST

Larry Ellison cancels plan to sell Oracle stock worth up to $7.5 billion

Oracle co-founder Larry Ellison cancelled a plan to sell up to 50 million shares worth about $7.5 billion, saying no shares were sold under the plan

Updated On: 13 Sep 2026 | 10:17 AM IST

Tamil Nadu govt announces ₹79,219 crore spending amid financial concerns

Coming amidst fierce criticism from political parties that the fiscal trajectory will cause severe strain on the economy, the government has also reiterated its commitment for fiscal prudence

Updated On: 13 Sep 2026 | 9:27 AM IST

Brics Day 2: Leaders to discuss resilience, innovation, sustainability

Brics leaders will discuss resilience, innovation, cooperation and sustainability on Sunday as India hosts the second day of Brics summit

Updated On: 13 Sep 2026 | 8:57 AM IST

Delhi Traffic Police announces diversions for final day of Brics summit

The restrictions will remain in place from 8 am to 8 pm on Sunday, the final day of the three-day summit being held at Bharat Mandapam in Pragati Maidan

Updated On: 13 Sep 2026 | 8:50 AM IST

Indonesia searches for passenger ship carrying 240 after losing contact

Indonesian rescuers launched a search after the passenger ship Virgo Transport 8 lost contact in the Java Sea while travelling from East Java to South Kalimantan

Updated On: 13 Sep 2026 | 8:40 AM IST