Floki vs Bitget: Unraveling the new controversy over TokenFi listing

Floki vs Bitget: Unraveling the new controversy over TokenFi listing

November 2, 2023

By Aniket Verma

How much are 1,10,100 FLOKIs worth today?

Floki rejects foul play on its part over token listing.

Bitget earlier delisted the token over concerns of market manipulation.

The controversy surrounding the listing of Floki’s [FLOKI] newly-launched token TokenFi [TOKEN] took a sharp new turn as the memecoin project strongly rebutted allegations from crypto exchange Bitget.

The Floki vs Bitget saga

The drama erupted on Halloween when the trading platform announced delisting of Floki’s new token over concerns of “market manipulation”.

Bitget claimed that the Floki team tried to control initial liquidity by adding just $2,000 worth of tokens to the liquidity pool on decentralized exchanges (DEXes).

Upon further scrutiny, Bitget said it found more red flags such as “an opaque token economy and an unclear vesting schedule.”

Within hours of the claims, Floki took to social media platform X to clarify its stance. In a long and strongly-worded post, Floki claimed several lapses on the part of Bitget during the entire process.

Floki said that it asked centralized exchanges (CEXes) not to list TokenFi until at least seven days of it going live on DEXes. This was because a vote regarding the listing of the token was pending with the Floki decentralized autonomous organization (DAO).