-
Floki
developers
launched
a
Telegram-based
trading
bot
for
FLOKI
holders
on
the
BNB
Chain
network. -
The
bot
is
expected
to
increase
demand
for
FLOKI
tokens
and
contribute
to
buying
pressure
with
a
1%
fee
on
transactions,
half
of
which
will
be
used
to
buy
FLOKI
on
the
open
market.
Floki
developers
today
introduced
a
trading
bot
tool
that
allows
FLOKI
holders
to
trade
any
token
on
the
BNB
Chain
network,
the
developers
told
CoinDesk
in
a
Telegram
interview.
The
Telegram-based
bot
will
initially
be
available
to
a
small
number
of
users
during
a
beta
testing
period
to
find
and
resolve
any
technical
bugs.
Developer
B
said
public
availability
is
expected
in
“mid-June.”
B
said
the
service
will
later
be
expanded
to
the
Ethereum
and
Base
blockchains.
Developers
expect
the
service
to
increase
demand
for
FLOKI
tokens,
because
users
will
need
to
hold
the
coin
to
use
the
bot.
The
bot
charges
a
1%
fee
on
every
transaction
and
50%
of
the
collected
fees
will
be
used
to
buy
FLOKI
on
the
open
market,
contributing
to
buying
pressure.
The
product
is
the
latest
release
in
a
line
of
utility
tools
and
a
metaverse
that
make
part
of
the
Floki
ecosystem.
The
token
was
initially
launched
in
2021
as
a
meme
coin
themed
after
the
Shiba
Inu
dog
breed.
It
has
since
rebranded
as
a
utility
token
that
fuels
Floki-based
protocols
and
products.
Telegram-based
trading
bots
started
to
gain
popularity
in
early
2023
with
the
launch
of
Unibot.
These
bots
allow
users
to
punt
on
tokens
as
easily
as
they
can
chat
to
each
other
on
the
messaging
app.
The
appeal
of
such
products
is
likely
due
to
the
ease
of
usage
compared
to
a
decentralized
exchange,
such
as
Uniswap,
where
users
have
to
continually
log
in
to
their
wallet,
cross-check
if
all
token
information
is
correct,
and
encounter
high
fees
to
ensure
their
trades
go
through.
Meme
coin
projects
such
as
Solana-based
Bonk
(BONK)
have
previously
launched
their
own
trading
bots,
which
have
proven
popular
among
their
community.
Bonk’s
BonkBot,
for
instance,
was
responsible
for
up
to
70%
of
all
on-chain
trades
on
Solana
at
one
point,
B
said,
contributing
to
over
$1
million
in
buying
pressure
to
BONK
monthly.
FLOKI
prices
are
up
17%
in
the
past
24
hours,
data
shows.
The
broad-based
CoinDesk
20
(CD20)
has
gained
0.27%.
