2 months ago
1 min read
Floki Inu DAO Approves Token Burn 4.2 trillion FLOKI tokens
The Floki Inu community has approved a proposal to burn 4.2 trillion FLOKI tokens worth over $100 million and reduce the transactional tax. The proposal was passed with a 99.97% majority vote in favor and will be implemented on Feb.9, 2023. The reduction in supply is expected to increase the value of each token if demand remains constant. The proposal also cites security risks associated with cross-chain bridges as another reason, with over $2 billion lost or stolen from cross-chain bridges in the past year. The move is part of Floki Inu’s plan to position itself as a serious decentralized