Inside TokenFi’s Whitepaper: A Deep Dive into the Platform’s Concepts

24.11.2023

Summary

Floki’s TokenFi platform aims to transform the crypto landscape since its October 27 launch.
TokenFi’s WYSIWYG interface allows easy token creation and asset tokenization without coding skills.
The protocol promises seamless fundraising from the Floki community, connecting with exchanges and market makers.
TokenFi launched on five networks, including Ethereum, BNB Chain, opBNB, Base, and Arbitrum, with plans for further expansion.
TokenFi Token Launcher, QuickLaunch Bot, LaunchPad, Generative AI, AI Smart Contract Auditor, Connect, and RWA Tokenization Module.
Users can earn $TOKEN rewards through TokenFi’s Staking Program on both BNB and ETH chains, with better rewards for longer staking periods.
$TOKEN has a total supply of 10 billion, with initial distribution to staking pools, NFT holders, liquidity pools, treasury, team, user incentives, and staking program.
Allocating 5% of the $TOKEN supply, this system rewards users for various activities, contributing to platform adoption and deflationary goals.

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Floki’s TokenFi has captivated enthusiasts and investors, since its unveiling on October 27. The core of TokenFi’s offering is its native token, $TOKEN, which is now actively traded on multiple centralized exchanges.

TokenFi, according to Floki, is an all-encompassing tokenization platform that lets users easily create tokens and tokenize assets. Its simplicity lies in its What You See Is What You Get (WYSIWYG) interface that does not require coding knowledge.

In addition to enhancing liquidity, it reportedly facilitates connections with exchanges and market makers, marking a major step forward for the entire Floki ecosystem. TokenFi launched on five networks: Ethereum, BNB Chain, opBNB, Base, and Arbitrum.

Let’s explore the various offerings of TokenFi, exploring the features, vision, and potential it holds in reshaping the tokenization landscape.

Source: TokenFi Twitter

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TokenFi Products

TokenFi Token Launcher

TokenFi Token Launcher redefines the token creation process, making it accessible to retail users and those without a developer background. It reportedly takes 1-2 minutes to launch audited ERC-20/ERC-721/ERC-1155 tokens on top of EVM blockchains – no coding required. With plans to cover all major EVM blockchains in the near future, Floki’s vision extends beyond the original five blockchains.

TokenFi QuickLaunch Bot

The TokenFi QuickLaunch Bot allows users to create tokens easily through Telegram and Discord. Simple commands initiate token creation across top EVM blockchains, offering convenience at the user’s fingertips.

TokenFi LaunchPad

TokenFi LaunchPad offers a decentralized fundraising avenue, initially launching on ETH, BNB, Base, Arbitrum, and opBNB chains. This platform reportedly mitigates technical complexities, providing a secure space for token creators to raise funds. Moreover, FlokiFi Locker integration enhances token security, further solidifying LaunchPad as an integral component of TokenFi’s ecosystem.

TokenFi Generative AI

TokenFi Generative AI harnesses the power of artificial intelligence to simplify NFT creation. Users can generate high-quality artwork for their NFTs within the TokenFi app, eliminating the need for expensive artists.

Source: TokenFi Whitepaper

TokenFi AI Smart Contract Auditor

TokenFi’s smart contracts undergo auditing by security auditor Certik. The TokenFi AI Smart Contract Auditor allows users to perform instant audits, generating branded reports for enhanced trust.

TokenFi Connect

TokenFi Connect facilitates seamless connections between token creators and key industry players. Market makers, exchanges, funds, and influencers become accessible, providing deeper liquidity and broader reach for tokens.

TokenFi RWA Tokenization Module

Designed for non-security Real World Assets (RWA), the TokenFi RWA Tokenization Module provides a swift and efficient means to tokenize tangible assets. Leveraging Chainlink Proof of Reserves (PoR) and the Chainlink Cross-Chain Interoperability Protocol (CCIP), TokenFi opens new possibilities for tokenizing assets beyond the digital realm.

TokenFi Staking

Users can earn $TOKEN rewards by staking their TokenFi tokens through the TokenFi Staking Program. TokenFi tokens can be staked for three months, one year, two years, and four years on the BNB and ETH chains. Staking for longer periods will yield better rewards.

In the initial launch of the TokenFi token, 7% of the total $TOKEN supply was allocated to the Staking Program.

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Tokenomics and User Incentives

Powering Transactions with $TOKEN

At the core of TokenFi’s ecosystem is the primary utility token, $TOKEN. Every transaction within the TokenFi platform is conducted through $TOKEN, where a strategic portion of each successful transaction is directed towards buying and subsequently burning $TOKEN.

Unveiling $TOKEN Tokenomics and Distribution

Total Supply: 10,000,000,000 $TOKEN
Initial Circulating Supply: 1,000,000,000 $TOKEN
Token Tax: 0.3% (80% to Treasury, 20% to Liquidity Pool)

Initial $TOKEN Distribution:

54%: Floki staking pools (earned over four years)
2%: Floki NFT holders and Diamond Hands holders
10%: Initial liquidity pool on ETH and BNB chains
20%: Floki treasury for development and operations
2%: Team incentives (vested for four years)
5%: TokenFi User Incentives System (earned over four years)
7%: TokenFi staking program (earned over four years)

Source: TokenFi Docs

TokenFi User Incentives System

Of particular significance is the TokenFi User Incentives System, allocating 5% of the total $TOKEN supply to accelerate platform adoption. At the current fully diluted valuation of $250 million, the User Incentives Reward stands at $12.5 million, distributed over four years.

This system rewards users engaging in various platform activities, including token launches, fundraising, AI Contract Auditor usage, connections through TokenFi Connect, Real World Asset tokenization, referrals, and institutional engagements.

Points-Based System for User Rewards

The TokenFi User Incentives System operates on a points-based model, allowing users to accumulate points through diverse platform activities. These earned points can then be exchanged directly for tokens within the platform.

TokenFi’s 48-month distribution period reportedly ensures a balanced and sustainable approach to user rewards, aligning with its commitment to avoiding rapid token issuance.

$TOKEN is trading at $0.02694, down 8.7% in the last seven days.