Every first Monday of the month, Floki core team member and Head of Operations, B, does an AMA with the Floki community to keep Floki holders abreast of developments within the Floki Ecosystem and answer questions that users might have.
Please find the latest AMA below (February 6, 2023):
There is the saying that man proposes but God disposes.
I’m starting this month’s AMA on a very sober note due to the devastating news we’ve heard from our brothers and sisters in Turkey.
Our Turkish Vikings are an important part of this project; they’re one of our biggest and most passionate communities and a core part of what we do here. Seeing what they are going through right now with the devastating earthquake breaks my heart and gives me so much pain.
For our Turkish Vikings:
I want you to know that Floki stands with you through this difficult time. The Turkish people are an indomitable people with an undaunted spirit. You’re strong and will get through this. That’s what Vikings are: We’re strong and undefeated.
We’re in this together brothers and sisters. We stand with you. We stand by you! ❤️
İnsanın teklif ettiği, ancak Tanrı’nın tasarruf ettiği bir söz vardır.
Türkiye’deki kardeşlerimizden duyduğumuz yıkıcı haberler nedeniyle bu ayki AMA’ya çok ciddi bir şekilde başlıyorum.
Türk Vikinglerimiz bu projenin önemli bir parçası; onlar bizim en büyük ve en tutkulu topluluklarımızdan biri ve burada yaptığımız işin temel bir parçası. Yıkıcı depremle şu anda yaşadıklarını görmek kalbimi kırıyor ve bana çok fazla acı veriyor.
Türk Vikinglerimiz için:
Floki’nin bu zor zamanda yanınızda olduğunu bilmenizi istiyorum. Türk insanı yılmaz bir ruha sahip yılmaz bir halktır. Sen güçlüsün ve bunun üstesinden geleceksin. Vikingler böyledir: Biz güçlüyüz ve yenilmeziz.
Bu işte birlikteyiz kardeşlerim. Senin yanındayız. Biz yanınızdayız! ❤️
1) With the increased volume recently, what will that mean for our reintegration with Chainlink?
I’ve been following up with the Chainlink team and they are keeping track of our volume and developments related to Floki. I think they are likely to reactivate the FLOKI price feeds soon if the current volume/momentum sustains.
That said, the good news is that we would be fine even if Chainlink doesn’t reactivate the price feeds soon.
We’re in talks with several other oracle solutions, including one that is highly respected in institutional circles who is in the process of finalizing price feeds for Floki soon. Once this price feed is finalized you should start seeing some really MAJOR DeFi integrations very soon, possibly even as early as this month! 🤔
2) The gap between traditional gamers and blockchain gamers is still huge. How can Floki Platform bridge this to attract more traditional players to try new blockchain-based games? What’s your plan to expand the adoption of your project to the traditional gamers?
This is a very good question!
I want to say this:
There is currently no crypto gaming project that is as mainstream as Floki. Not a single one I can think of.
I mean we have Axie Infinity, GALA, SAND, MANA, etc. Many of these have years of headstart ahead of us and massive institutional money backing them, but they do not have the mainstream reach Floki has: they have not had partnerships with 8 major international football clubs and a Formula 1 team that has exposed Floki to over 3 billion people. They do not have the Viking army backing them up. In fact, they do not have as many holders as Floki has… despite the fact that our blockchain game is yet to go live on mainnet.
Just to give you an idea of the kind of impact Valhalla will have: When I last checked with our dev a couple days ago Valhalla was the most active project on Optimism Goerli, with Valhalla contracts ranking second, third, and fourth… only after the Optimism Faucet itself (which is the main contract people interact with to use the chain)… and this is without the game being live on mainnet yet, without Play2Earn mechanics being live, without incentives for Vikings to promote the game yet, and without us kickstarting any aggressive marketing campaign for Valhalla.
Floki also has one of the biggest retail communities in the world.
I say this with all humility: I do genuinely believe that Floki’s Valhalla has what it takes to become the most successful blockchain game in this industry when you look at fundamentals and the foundations we currently have in place, and I do think Valhalla will actually be the game that introduces a lot of new people to crypto.
3) Because Floki is an ecosystem, with different uses of Floki to operationalise solutions and products, has the creation of its own Blockchain or a Layer 2 of another Blockchain already been considered?
This is a very interesting question that I can only give one answer to: No comments for now.
4) What will the FLOKI supply be after the Thursday burn?
I believe circulating supply will be around 9.2 trillion. We will calculate the exact amount and communicate after the burn.
Total supply will reduce from the current 15 trillion to a maximum of 10 trillion.
5) After burning the tokens from the bridge, will there be a continued process in which more burning will take place?
Yes, FlokiFi Locker has mechanisms that makes FLOKI perpetually deflationary through a transactional burn mechanism and we have even more products in the pipeline that will burn FLOKI tokens with each use.
I also want to be clear that the bridge burn wasn’t intended as a gimmick; in fact, we didn’t expect the bridge burn to get as much exposure as it has gotten. We only did that to secure the Floki project. We believe the best way to do burns is through transactional burns and there will be a lot of that in the future, all things being equal.
6) Is Floki doing anything different to protect from exploits until February 9th? The value of the tokens have doubled since then, that would certainly make it more appealing for hackers to try.
For one, pushing the proposal to disable the bridge and burn its tokens (which thankfully the DAO voted in favor of!) was a move we made in advance to protect the project.
Sadly, another major project got exploited with what I believe was a kind of bridge shortly after our proposal passed, and the entire project had to shut down temporarily. The team is still trying to revive that project right now from my understanding, and unfortunately some of its holders won’t return. Also, I won’t be surprised if more bridge exploits occur in this space in the near future.
So disabling the bridge and burning the tokens resident in it is the SINGLE MOST IMPORTANT thing we can do to protect the Floki.
Second to that, we have a very active and good relationship with Certik as you can see from our mutual interactions with them on social media. They are the industry’s best auditor as well as the most respected, and they are monitoring the Floki and FlokiFi smart contracts 24/7. When we launch our staking program, too, they will audit the contracts to ensure everything is SAFU.
I can’t say anything with 100% certainty as I believe only God has certainty, but I can assure you that we’re doing our very best to keep this project safe — directly and through strategic partnerships with key security partners — in the interests of the 400,000+ Floki holders that trust us.
7) Can you tell us more about Floki’s upcoming staking program?
In fact, even more importantly I will leak this: the Floki DAO will be voting on a PIVOTAL proposal that has to do with this very soon.
I think the recent vote to disable/burn the bridge and reduce the transaction tax is the most pivotal vote Floki has had. I think the staking related vote, which will be happening very soon, is just as pivotal. Stay tuned for it!
8) What are the advantages of Floki against its competitors in this market, where the number of game projects are constantly increasing?
Floki’s advantages are numerous:
1. We currently have almost 430,000 holders combined on BSC and ETH. This puts us high up there in terms of popularity when it comes to total holders among ALL crypto projects and certainly in the top 3 of all gaming projects, this is without Valhalla being on mainnet yet.
2. Like I said earlier Floki has a bigger retail presence and appeal than every other gaming project out there which will help us massively when Valhalla goes live.
3. We have the massive Viking army who will tell their friends and family about Valhalla.
4. We have the legendary marketing genius Sabre on board to help launch aggressive marketing campaigns to push Valhalla.
5. More importantly, Valhalla is one of the strongest and most innovative games in this space so that’s a massive advantage in and of itself.
Oh, and I think tomorrow’s announcement will give many an idea of just how strategic we can be in positioning Floki and our utility products (especially Valhalla!) to capture market share and mainstream users where it matters. It will be very clear soon enough that we aren’t joking, playing, or sleeping here at Floki HQ. We mean business!
9) One of the drawbacks of some P2E games is that they require a high initial investment to start playing, many of which are very expensive. Can we start playing Floki with a small amount of capital? Will there be any discounts or benefits for early subscribers?
My understanding is that Valhalla will have a low barrier to entry.
While having FLOKI tokens will give you certain advantages in game because Floki is a Valhalla game, users will be able to play the game even if they do not hold Floki… because that’s how to ensure mainstream adoption of the game.
The game economy is being finalized, but it’s going to be designed to both 1) move large chunks of FLOKI tokens out of circulation into the Valhalla economy 2) be easy for people to play with as little barrier to entry as possible.
10) With the crypto industry being so fast paced, would you say that Floki is flexible and if so how does Floki keep pace with technology trends?
Haha, I’m sure everyone knows that Floki has always been a pace setter in this industry.
I mean, I’m sure you see all of the different crypto projects burning tokens right now (including tokens they’re not supposed to burn!) just because Floki decided to burn our bridge token and it’s suddenly become the coolest thing to do 😂😂😂
So, yeah, Floki is flexible enough: Floki’s current core team is paying attention to the trends and looking at the data. We’ve always considered this when making key decisions and we will continue to.
11) What is the ultimate vision for the Floki project? Obviously the whole space will experience huge growth in the upcoming years, but what role do you see Floki playing in this?
To be the most known and most used cryptocurrency in the world.
We’ll build innovative and disruptive innovative solutions while doing this and create a massive movement that is a force for good in helping the underdog and underprivileged live easier, better lives. We’ve made this clear with FOUR schools we’ve built in four underdeveloped nations, and we’ve got even more planned God willing!
12) As we know many people judge a project with the token price and that is important, so what do you have to say to holders to increase the token demand?
I’ve said it before and will say it again:
We don’t give a damn about token price. None!
We’re not building or making our moves to pump the price or to react to temporary market moves. We’re building what we believe would be the most known and most used crypto project in the world, and we’re doing it alongside the Floki DAO. When that is your aim then temporary token price movements won’t matter to you.
Rather than focus on token price, what I would love to focus on:
- Number of holders. Wen 1 million holders? Wen 10 million holders? 100 million holders?
- Number of products shipped.
- Adoption for products shipped.
- How many people are talking about Floki in crypto and in the mainstream?
- How many respected partners does Floki have in crypto and mainstream?
- How many schools has Floki built and what level of impact have we had in ordinary people’s lives?
- How functional is the Floki DAO in influencing key decisions and the direction of the Floki project.
- What impact is Floki playing on a policy level, etc. We haven’t gotten there, but eventually the DAO would need to care about stuff like this if Floki would be the most known and most used crypto.
These are key factors that are fundamental to Floki’s ultimate goal of becoming the most known and most used cryptocurrency in the world. What the market does about this is up to the market!
13) What problems does Floki aim to solve in the crypto world?
We’re solving so many problems right now:
1. Mainstream crypto adoption won’t happen without a gaming and crypto marriage. For that to happen gaming needs to be FUN and there needs to be actual use of the blockchain (not claiming to have a “crypto game” that doesn’t use the blockchain). Valhalla is solving that problem in an innovative way.
2. DeFi is plagued with scams, rug pulls, and project teams cheating their communities. Floki was plagued with this problem before the current team stepped in to save the project so we know exactly how it fills. FlokiFi Locker is solving this problem by giving people a secure and trustless platform to securely lock their LP and project tokens.
3. Crypto is an industry known for greed due to not having any direct impact in the real world. Floki’s strong charity focus has built FOUR SCHOOLS in four different nations and the Floki and Floki Vikings have contributed over $1.5 million directly towards fighting food insecurity. It’s hard to see another crypto project that has made this level of direct impact in the real world.
4. Only 300 million users currently use crypto, out of a massive 5.1 billion internet users, so A LOT more needs to be done to get people into crypto. University of Floki is positioned to help educate millions (billions?) about crypto.
14) Has the team considered making FLOKI available on Arbitrum?
As to the Floki token itself, based on discussions we’ve had, I don’t think it would be launching on Arbitrum anytime soon.
That said, we do realize the massive potential Arbitrum has and I think it’s going to be one of the MAJOR chains to reckon with in no distant future; I use it myself and it’s fast and seamless. There is growing traction for the chain lately, too. So the case for Arbitrum is clear. Our utility projects will continue to integrate the Arbitrum chain and we’re always open to collaborating with projects on the chain.
It is logistically difficult to launch on a lot of chains due to the security implications, and this is a reality that has dawned on us with the bridge exploits this industry is plagued with as you can’t launch on several chains without needing a bridge. So this would be something for the DAO in the future, but for this team I can’t make any promises about this right now.
That said, speaking of other chains I would like to announce that FLOKI just launched on the OKX chain today 🔥
For those curious, this is the details you need to know:
Our contract on OKC:
Floki’s OKC DEXTools page:
We will be making relevant announcements about this soon and are collaborating with the OKX team on a marketing campaign to get the word out about this.
15) Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is Floki’s strategy to attract new users and investors to your project and keep them long term?
I love this question as it’s a VERY easy one to answer:
Firstly, Floki has proven over and over again that we understand the marketing game. I mean, we have on board @SabreEth who as far as I’m concerned is the best in the industry when it comes to pushing a project mainstream… especially considering the meagre resources Floki has had compared to other projects in this industry.
Secondly, in barely a year and a half of Floki’s launch we’ve collaborated with 8 major international football clubs and a Formula 1 team. Combined the sports teams we’ve partnered with are in leagues with a projected audience of over 4 billion people. This doesn’t take into account the aggressive marketing campaigns we launched in over 14 countries, literally locking down the United Kingdom, Dubai, and Turkey.
This is the fact: Consciously and subconsciously, the Floki brand has been imprinted in the minds of billions of people… and this is only the beginning. From discussions the core team has been having with Sabre I can tell you that Sabre has got even more exciting stuff coming for Floki on a marketing level, and damn this is one tiger no one will be able to restrain 😂
So I’ll say this: stay tuned for our marketing moves. We won’t say in advance what we’ll do. Instead, we’ll let our work speak for itself… and you will start to see for yourself soon enough!
16) Crypto is so popular in the Southeast Asian market, countries like Vietnam, Philippines and Indonesia. Does Floki have any plan to approach such countries with so much potential in crypto?
I really love this question, but for this I would rather answer with actions rather than words:
Pay attention to our announcement about our China move tomorrow, then imagine what we can do in the other regions mentioned above when Valhalla is finally live!
17) Regulation is very important. Projects are closed in many countries for failing to use proper regulations and permits. To be worldwide; how is Floki handling these problems?
I will tell you this from so many calls with lawyers: when it comes to regulations you can only do your best and hope you’re doing the right thing, because there is no clearly defined policy yet from most regulators.
That said, we have really good lawyers and speak to them regularly to make sure we’re doing the right things to be compliant on a regulatory level. They have reviewed our website, whitepaper, messaging, and mode of operations and have advised us on what to do to ensure we’re in the best position possible. We will continue to engage them especially as the industry evolves.
All I can say for now is Floki has really good lawyers and we continue to engage them — and heed their advice — on how best to act to ensure we’re compliant with regulations!