TechFlow news: Floki expressed regret over the Hong Kong Securities and Futures Commission (SFC) listing its Floki and TokenFi staking programs as suspicious investment products, stating respect for regulators and a commitment to continued cooperation in resolving regulatory concerns.
Since last December, the project has been working with legal counsel to address potential regulatory issues and has taken actions in Hong Kong, including issuing warnings to users and blocking their participation in the program.
Regarding the SFC's concerns about high APY, the project explained the unique aspects of the staking program, emphasizing that rewards are paid in TokenFi's utility token $TOKEN, and that the high APY is linked to fluctuations in TokenFi's market capitalization.
