{"id":17019,"date":"2023-01-28T14:57:32","date_gmt":"2023-01-28T14:57:32","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/floki-price-surges-amid-proposal-to-burn-4-97-trillion-floki\/"},"modified":"2023-01-28T14:57:32","modified_gmt":"2023-01-28T14:57:32","slug":"floki-price-surges-amid-proposal-to-burn-4-97-trillion-floki","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/floki-price-surges-amid-proposal-to-burn-4-97-trillion-floki\/","title":{"rendered":"Floki price surges amid proposal to burn 4.97 trillion FLOKI"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1674917476209-5314c29d-419a-430b-be05-f64fb66649ae-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1674917476209-5314c29d-419a-430b-be05-f64fb66649ae-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1674917476209-5314c29d-419a-430b-be05-f64fb66649ae-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1674917476209-5314c29d-419a-430b-be05-f64fb66649ae-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><\/picture><\/div>\n<ul>\n<li dir=\"ltr\">Floki Inu will burn 4.97 trillion FLOKI tokens worth over $55 million if the DAO vote passes.<\/li>\n<li dir=\"ltr\">The meme coin project is also looking to cut transaction tax from 3% to 0.3% and permanently disable the cross-chain bridge.<\/li>\n<li dir=\"ltr\">The price of FLOKI rose 25% early Saturday to hit its highest level since August.<\/li>\n<\/ul>\n<p dir=\"ltr\">Floki Inu (<a href=\"https:\/\/coinjournal.net\/floki\/\">FLOKI<\/a>) holders are voting on a major governance <a href=\"https:\/\/snapshot.org\/#\/floki-inu.eth\/proposal\/0x7beecbefc3808d9cfbac864de875b43f02c26322e7792883cddc8eb29108b183\" rel=\"noopener noreferrer\" target=\"_blank\">proposal<\/a> that could see the meme cryptocurrency burn millions worth of the nativ FLOKI tokens, permanently removing them from circulation.\u00a0<\/p>\n<h2 dir=\"ltr\">Floki to burn 4.97 trillion FLOKI and cut tax to 0.3%<\/h2>\n<p dir=\"ltr\">Here\u2019s the DAO proposal announcement as posted by the official Floki Inu Twitter account.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Floki?src=hash&amp;ref_src=twsrc%5Etfw\">#Floki<\/a>&#8216;s latest DAO proposal is live!<\/p>\n<p>If this proposal passes:<\/p>\n<p>\u2013 4.97 trillion <a href=\"https:\/\/twitter.com\/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$FLOKI<\/a> tokens (worth ~$54,670,000) in the Floki bridge will be burnt.<br \/>\u2013 The <a href=\"https:\/\/twitter.com\/hashtag\/Floki?src=hash&amp;ref_src=twsrc%5Etfw\">#Floki<\/a> buy\/sell transaction tax would be reduced to 0.3%.<\/p>\n<p>Read the full proposal and vote here:<a href=\"https:\/\/t.co\/nmx4cxJ6v1\">https:\/\/t.co\/nmx4cxJ6v1<\/a><\/p>\n<p>\u2014 FLOKI (@RealFlokiInu) <a href=\"https:\/\/twitter.com\/RealFlokiInu\/status\/1618723728564817922?ref_src=twsrc%5Etfw\">January 26, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">Notably, Floki Inu\u2019s maximum supply is 10 trillion tokens, but more than half of it is currently held in a cross-chain bridge created when the mainnet launched on the BNB Chain.<\/p>\n<p dir=\"ltr\">The developer team highlights the security threats posed by this scenario, noting in the proposal that cross-chain bridge exploits have seen over $2.5 billion lost in the past two years.<\/p>\n<p dir=\"ltr\">\u201c<em>In Floki\u2019s case, an exploit on our main cross-chain bridge would have a catastrophic impact on the project since this bridge currently holds 55.7% of what should be FLOKI\u2019s total circulating supply<\/em>,\u201d the developers noted.<\/p>\n<p dir=\"ltr\">According to the proposal introduced Friday, the goal is to also cut the 3% tax on FLOKI transactions to 0.3%. This will enhance FLOKI\u2019s utility and the Floki Inu ecosystem as one of the top platforms for decentralised finance (DeFi).<\/p>\n<p dir=\"ltr\">If the DAO vote on the two issues passes, 4.97 trillion FLOKI worth over $55 million will be burnt. The team will also permanently disable the cross-chain bridge. As of 9:00 am ET on 28 January 2023, roughly 99.97% of the votes were in support of the proposal.<\/p>\n<p dir=\"ltr\">Voting will end at 9:16 PM UTC (4:16 pm ET) on Saturday, 28th January.<\/p>\n<h2 dir=\"ltr\">FLOKI price jumps 25% on token burn proposal<\/h2>\n<p dir=\"ltr\">As token burns reduce supply of a given token, the expectation is that the price of that token will go up amid the basic principles of scarcity. The outlook is no different for Floki Inu.\u00a0<\/p>\n<p dir=\"ltr\">There is <a href=\"https:\/\/twitter.com\/FlokiJim\/status\/1619257570539208705\" rel=\"noopener noreferrer\" target=\"_blank\">excitement<\/a> about what the future could hold for the FLOKI token, even as the meme coin continues to see upside momentum in 2023.<\/p>\n<p dir=\"ltr\">The <a href=\"https:\/\/coinjournal.net\/floki\/\">price of the Floki<\/a> Inu utility token surged early Saturday to hit $0.00001715, its highest level since August. \u00a0According to data from CoinGecko, FLOKI is currently more than 25% up in the past 24 hours, changing hands around $0.00001643.\u00a0<\/p>\n<p dir=\"ltr\">Weekly gains are nearly 50% while the token\u2019s value has risen by 96% in the past 30 days.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/floki-inu-price-soars-on-dao-proposal-to-burn-4-97-trillion-floki\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Floki Inu will burn 4.97 trillion FLOKI tokens worth over $55 million if the DAO vote passes. The meme coin project is also looking to cut transaction tax from 3% to 0.3% and permanently disable the cross-chain bridge. The price of FLOKI rose [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":17020,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17019"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=17019"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17019\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/17020"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=17019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=17019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=17019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}