FLOKI is a memecoin and the utility token on the Floki ecosystem, and has been deployed on both Ethereum and Binance Smart Chain as an ERC-20 and BEP-20, respectively. Inspired by Elon Musk’s own Shiba Inu (named Floki), Floki is a community driven and DAO governed project that touts itself as “The People’s Currency.” 

The Floki ecosystem is composed of four flagship utility projects, each designed to address different aspects of the digital economy:

Valhalla - an NFT gaming metaverse

FlokiFi - a suite of decentralized finance products 

FlokiPlaces - an NFT and merchandise marketplace 

University of Floki - a content and education platform 

The Floki project is led by a core team of pseudonymous individuals—B, Sabre, and MrBrown Whale—with a lead developer, Jackie Xu, who is celebrated for his extensive blockchain experience spanning over a decade. 

Risks of FLOKI

Like an investment in other crypto assets, there are some general risks to investing in FLOKI. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in FLOKI is subject to the following specific risks:

As a ‘memecoin’, FLOKI is a community project, led by an pseudonymous team. There is no roadmap, and no funds have been raised for the project’s future development. 

Any potential success associated with FLOKI is reliant on the growth of its decentralized community, and their continued trading and enthusiasm for the asset. These factors are difficult to predict, and could result in very high volatility.

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with FLOKI. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The FLOKI community is not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of FLOKI have no recourse to the FLOKI community or Uphold if FLOKI declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing FLOKI on the Uphold Platform, Uphold performed due diligence on FLOKI and determined that FLOKI is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

The creation, governance, usage, and design of FLOKI, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 

The supply, demand, maturity, utility, and liquidity of FLOKI.

Any marketing materials put forward by the FLOKI social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.

Material technical risks associated with FLOKI, including any code defects, security breaches and other threats concerning FLOKI and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.

Legal and regulatory risks associated with FLOKI, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of FLOKI.