The Floki Inu community proposed to burn 15,246,000,000 FLOKI, which are currently worth $2.8 million. The community explained that these actions intend to remove the tokens from blacklisted wallets.
15.2 Billion FLOKI Burn
Floki Inu detailed that the burning of 15,246,000,000 FLOKI proposal to burn, where the community agreed to burn the excess recovered tokens. The community has emphasized that when wallets are blacklisted, nothing can be done with the tokens apart from sending them to the Floki multisig.
In other words, the community sees it as right to remove these tokens from the market permanently. “As such, we feel it is only fair to burn the returned token to permanently remove it from circulation, in line with the expectations the community has about these tokens,” Floki Inu community explained.
Floki DAO even promised those who voted to send 1% of the value of the returned tokens, around 154 million FLOKI, to those affected as a “goodwill gesture.” This could encourage more wallets to send their excess tokens to burn. Regardless, the proposal has received 232 votes. However, It is not the first time the community has voted to burn FLOKI tokens. In February, they voted to burn 190.9 billion tokens recovered from the multi-chain bridge. “In each of these cases, the decision of the Floki DAO was swiftly executed, making it clear that Floki is a completely decentralized cryptocurrency and the Floki DAO ultimately determines the direction of the project,” the Floki Inu community added.
FLOKI Is Now Live on Revolut Business!
Revolut is the biggest neobank and retail trading app in Europe, with 40 million+ users in 150+ countries. The Revolut Business listing makes it easy for businesses across Europe to buy $FLOKI and will accelerate Floki’s vision of becoming the world’s most known and most used cryptocurrency.
Following the announcement, FLOKI rose more than 11%, going from $0.0001872 to $0.0002025. Meanwhile, its trading volume rose 235.29% in the last 24 hours.
About Floki Inu (FLOKI)
The Floki Inu (FLOKI) is a memecoin on the Ethereum (later BSC) blockchain that emerged after Elon Musk tweeted that he named his dog Floki. As always, Musk’s tweet led to excitement in the crypto market, as well as the creation of a new token.
The original smart contract had problems with tokenomics – rapid growth in supply, that is, noticeable inflation, and in addition, large fees in favor of the developer. As a result, the original developer was removed, and a new team is now working on the project, launching Floki V2.
The Floki Inu team plans to grow with the help of a global marketing campaign. To achieve exponential growth of the project, marketing partnerships are formed and materials are developed. In particular, separate teams have been created in different parts of the world – the USA, China, New Zealand, India, Europe.
