Floki Staking TVL Soars, Outperforming Major Memecoins

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Floki Staking TVL Soars, Outperforming Major Memecoins

Floki, a cryptocurrency known as FLOKI, has achieved a significant milestone by securing an all-time high in staking total value locked (TVL). This achievement surpasses the TVLs of other notable "memecoins" such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Coin (PEPE).

The official FLOKI handle announced that the staking TVL had reached $105 million, representing a notable 25% of the coin's total supply. This places Floki in a unique position among major memecoins, with such a substantial portion of its supply being actively staked.

Data from Defillama indicates that Dogecoin's current staking TVL stands at $3.78 million, while Shiba Inu's Layer 2 solution, Shibarium, has a TVL of $1.1 million. Pepe Coin, in comparison, maintains a TVL of $9.4 million.

Through the staking mechanism, Floki holders can earn TOKEN rewards over a four-year period, with an annual percentage yield (APY) of up to 160%. TOKEN rewards are associated with TokenFi, a tokenization platform focused on advancing the tokenization industry.