Token

Burn

FLOKI

Floki DAO

The FLOKI Inu project has just hit a milestone with the successful burning of $15.246 billion $FLOKI tokens by the Floki DAO. This move can be attributed to the Floki community holders, who voted 99% in favor of the burn. 
The burn arises from a proposal made on May 13th, 2024, that deemed it necessary to take out $15.246 billion $FLOKI tokens from circulation. The DAO once again burned tokens that had been seized from a vulnerable bridge in February 2024 and others that were within a cross-chain bridge that had been disabled in January 2023. 
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 15.246 BILLION FLOKI TOKEN BURN SUCCESSFULLY EXECUTED Following the decisive vote by the <a href="https://twitter.com/hashtag/Floki?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Floki</a> DAO, 15,246,000,000 <a href="https://twitter.com/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$FLOKI</a> tokens have been successfully burned today. This action reflects the community's overwhelming support, with 99.84% voting in favor of the burn. TX:… <a href="https://t.co/aHBUmTepbD" target="_blank">https://t.co/aHBUmTepbD</a> <a href="https://t.co/xtvIf59ocj" target="_blank">pic.twitter.com/xtvIf59ocj</a>— FLOKI (@RealFlokiInu) <a href="https://twitter.com/RealFlokiInu/status/1793359676114976983?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 22, 2024</a>
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This latest burn is a testament to Floki’s adherence to decentralization and its self-governance mechanism. The numerous votes indicate that the community has good support for the direction being taken by the project. In a similar motion, the Floki DAO restored 1% to the previously blacklisted burner to make amends and demonstrated that they are looking for methods for the extended community’s advantage. 
This large volume of $FLOKI token burning might help decrease the overall token supply, which could eventually lead to an increase in the token’s price. 
As of the writing time, FLOKI is trading at a price of $0.000223, having a 4.01% price decrease. 
<img fetchpriority="high" decoding="async" width="602" height="332" src="https://lh7-us.googleusercontent.com/TozVfLbvOlEzAAO6KLbxNpXdZ7Fz7_6azTD7rKhhvpEPjfN5ceuueIXvdzMoJtlq8K8JB2gdlnIK0ukRilKgAh_p6QGqM3AgauFT74DZWM9Gk3A_YZepS33MTaSK7mEuqE-eS9fnZAvSL-GGXPOhuiQ" alt="TozVfLbvOlEzAAO6KLbxNpXdZ7Fz7 6azTD7rKhhvpEPjfN5ceuueIXvdzMoJtlq8K8JB2gdlnIK0ukRilKgAh p6QGqM3AgauFT74DZWM9Gk3A YZepS33MTaSK7mEuqE eS9fnZAvSL GGXPOhuiQ"> 
Source: <a href="https://coinmarketcap.com/currencies/floki-inu/#News" target="_blank" rel="noopener">Coinmarketcap</a> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/23/gala-soars-after-recovering-stolen-funds-and-proposing-token-burn/">GALA Soars After Recovering Stolen Funds and Proposing Token Burn</a> 
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Floki DAO Burns $15 Billion in Tokens After Community Vote

The Crypto Times

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