{"id":17069,"date":"2023-01-30T09:15:47","date_gmt":"2023-01-30T09:15:47","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/floki-inu-dao-approves-proposal-to-burn-over-100m-worth-of-floki-tokens\/"},"modified":"2023-01-30T09:15:47","modified_gmt":"2023-01-30T09:15:47","slug":"floki-inu-dao-approves-proposal-to-burn-over-100m-worth-of-floki-tokens","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/floki-inu-dao-approves-proposal-to-burn-over-100m-worth-of-floki-tokens\/","title":{"rendered":"Floki Inu DAO approves proposal to burn over $100M worth of FLOKI tokens"},"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\/1675069644410-9ca500a6-1a69-4fe0-9076-60859162dd37-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1675069644410-9ca500a6-1a69-4fe0-9076-60859162dd37-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1675069644410-9ca500a6-1a69-4fe0-9076-60859162dd37-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1675069644410-9ca500a6-1a69-4fe0-9076-60859162dd37-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul class=\"decimal_type\">\n<li>FLOKI\u2019s price has rallied by over 100% in the past week.<\/li>\n<li>It has hit a daily high of $0.00002973 today rallying on the news of the passed proposal.<\/li>\n<li>The passed proposal will see Floki Inu burn about 4.97 trillion FLOKI tokens.<\/li>\n<\/ul>\n<p>The Floki Inu DAO has finally <a href=\"https:\/\/twitter.com\/RealFlokiInu\/status\/1619457755919839232?s=20&amp;t=UAgu1DpsPY7H_gnjhJ1Z7w\">passed<\/a> the \u201cRemove the FLOKI transaction tax and burn the bridge tokens\u201d proposal. As reported in our <a href=\"https:\/\/coinjournal.net\/news\/floki-inu-price-soars-on-dao-proposal-to-burn-4-97-trillion-floki\/\">earlier news<\/a>, the proposal was opened for voting on January 27 causing significant price movements immediately after it was announced.<\/p>\n<p>The voting proses was concluded on January 29 with 99.97% of the participants voting in favour of the proposal.<\/p>\n<div class=\"fr-img-space-wrap\"><span class=\"fr-img-caption fr-fic fr-dib fr-draggable\" style=\"width: 300px\"><span class=\"fr-img-wrap\"><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.igms.io\/2023\/00\/30\/1675069075866-388b613e-f96a-4a44-afd2-5e145368a8cc.jpg\" style=\"width: 300px\" class=\"fr-fic fr-dib\" width=\"300\" height=\"470\"\/><span class=\"fr-inner\">Screenshot of how Floki Inu DAO voted. Source:\u00a0<a href=\"https:\/\/snapshot.org\/#\/floki-inu.eth\/proposal\/0x7beecbefc3808d9cfbac864de875b43f02c26322e7792883cddc8eb29108b183\">snapshot.org<\/a><\/span><\/p>\n<p><\/span><\/span><\/p>\n<p class=\"fr-img-space-wrap2\">\u00a0The <a href=\"https:\/\/coinjournal.net\/floki\/\">price of FLOKI<\/a> token has surged slightly because of the news, with the token gaining about 8% at press time to trade at $0.00002415.<\/p>\n<\/div>\n<h2>What next after approving the proposal?<\/h2>\n<p>According to the <a href=\"https:\/\/snapshot.org\/#\/floki-inu.eth\/proposal\/0x7beecbefc3808d9cfbac864de875b43f02c26322e7792883cddc8eb29108b183\">information<\/a> provided by Floki Inu, the proposal determined the future of two things for the Floki Inu community which are:<\/p>\n<ul>\n<li>The original Floki cross-chain bridge.<\/li>\n<li>The 3% tax on the FLOKI token.<\/li>\n<\/ul>\n<p>The proposal sought to have the original cross-chain bridge disabled and the tokens in the bridge burned since the bridge posed some vulnerability threats. Floki Inu narrowly dodged a bullet last year when the cross-chain bridge was briefly exploited forcing the team to quickly disable the bridge to limit the exploit\u2019s impact.<\/p>\n<p>Now that the DAO has voted to pass the proposal, the team will go ahead and disable the main cross-bridge and embark on burning the FLOKI tokens that were in the bridge. The 3% buy and sell FLOKI transaction tax will also be drastically reduced to a 0.3% tax which is the default tax\/fee on most decentralized exchanges like Uniswap (<a href=\"https:\/\/coinjournal.net\/uniswap\/\">UNI\/USD<\/a>).<\/p>\n<p>On timelines, the FLOKI transaction tax will be lowered to 0.3% effective 8 PM UTC on February 3, 2023, while the 4.97 trillion tokens will be permanently burnt at 8 PM UTC on February 9, 2023. As of the price of FLOKI today, the planned token burn is worth about $100 million.<\/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<\/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-dao-approves-proposal-to-burn-over-100m-worth-of-floki-tokens\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) FLOKI\u2019s price has rallied by over 100% in the past week. It has hit a daily high of $0.00002973 today rallying on the news of the passed proposal. The passed proposal will see Floki Inu burn about 4.97 trillion FLOKI tokens. The Floki [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":17070,"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\/17069"}],"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\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=17069"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17069\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/17070"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=17069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=17069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=17069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}