The Floki development team has launched a new trading bot designed for FLOKI holders, enabling them to trade any token on Ethereum, BNB Chain, and Base blockchain mainnets.
This Telegram-based bot will initially be accessible to a limited group of users for beta testing, aiming to fix any technical issues and collect user feedback. The bot is anticipated to be publicly available by mid-June.
Developers believe this new tool will boost demand for FLOKI tokens, as holding the coin will be a requirement to use the bot.
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The bot will charge a 1% fee on each transaction, with half of the collected fees used to purchase FLOKI tokens on the open market, thereby generating buying pressure and potentially increasing the token’s value.
This trading bot is part of an effort to transform the Floki ecosystem, which began as a memecoin inspired by Elon Musk’s Shiba Inu dog, Floki. Over time, it has rebranded into a utility token supporting various Floki-based protocols and products, including a range of utility tools and a metaverse project.
Since the announcement of the new trading bot, FLOKI prices have increased, rising by over 6% in the past 24 hours.
Telegram-based trading bots have been gaining traction since early 2023. These automated tools allow users to trade on decentralized exchanges (DEX) through messaging on Telegram, eliminating the need for users to repeatedly log into their wallets, verify token details, and endure high transaction fees.
The integration of a user-friendly trading bot is expected to drive sustained demand and strengthen the token’s fundamentals, capitalizing on the growing trend of Telegram-based trading bots and addressing the needs of the crypto community.
FLOKI has previously made the headlines after it was added to Revolut’s tradable assets.
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