{"id":26935,"date":"2024-02-29T12:48:18","date_gmt":"2024-02-29T12:48:18","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/floki-dao-outlines-proposal-to-burn-190-billion-tokens\/"},"modified":"2024-02-29T12:48:18","modified_gmt":"2024-02-29T12:48:18","slug":"floki-dao-outlines-proposal-to-burn-190-billion-tokens","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/floki-dao-outlines-proposal-to-burn-190-billion-tokens\/","title":{"rendered":"Floki DAO outlines proposal to burn 190 billion 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\/2023\/05\/1683291887884-495cb3a8-ab39-40ff-84b9-90ec098502f7-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1683291887884-495cb3a8-ab39-40ff-84b9-90ec098502f7-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1683291887884-495cb3a8-ab39-40ff-84b9-90ec098502f7-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1683291887884-495cb3a8-ab39-40ff-84b9-90ec098502f7-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>New proposal seeks to burn 190 billion FLOKI tokens.<\/li>\n<li>Over $11 million worth of FLOKI tokens to be permanently removed if vote passes.<\/li>\n<li>Will FLOKI price explode?<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">A new Floki DAO proposal seeks to reduce the cryptocurrency project\u2019s total supply by a staggering 190 billion tokens.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The <a href=\"https:\/\/coinjournal.net\/floki\/\">FLOKI<\/a> developer team\u00a0 says the massive burn will account for 2% of the circulating supply.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201c<em>We would like to put forward a proposal for another massive $FLOKI token burn, similar to the one we had in January 2023. This time around, we\u2019re proposing a burn of 190,918,585,431.84 $FLOKI tokens. That\u2019s around 2% of the token\u2019s current circulating supply, which is currently worth around $11 million<\/em>,\u201d the proposal reads.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to details of the new DAO proposal, the token burn will help with the long-term security and stability of the Floki network. By burning these tokens, it ensures they are permanently removed.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The tokens in question are held in a multisig wallet since Floki \u201cnarrowly\u201d escaped the implosion that hit the cross-chain bridge Multchain after a $130 million exploit. The team says burning these $190 billion FLOKI tokens is the \u201conly trustless way to guarantee that they NEVER enter into circulation.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">A community vote on the proposal runs from February 29, 2024 to March 2, 2024. A snapshot of the vote shows 84% of votes are so far in favour of the burn.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201c<em>If the Floki DAO votes in favor of burning these tokens, they will be burned within a week of the DAO vote passing. If the Floki DAO votes against burning these tokens, they will be kept in the Floki treasury for future use<\/em>,\u201d the developer team said.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">FLOKI price<\/span><\/h2>\n<p><span style=\"font-weight: 400\">In January 2023, Floki burned more than $124 million worth of its native tokens. The price of the meme coin jumped more than 70% following the historic burn. In recent weeks, the FLOKI price has also jumped as meme coins rally amid Bitcoin\u2019s uptick to a multi-year high of $64k.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Also notable was <a href=\"https:\/\/twitter.com\/BSCNews\/status\/1762695536040186131\">reports<\/a> that digital asset firm DWF Labs was to market-purchase $10 million of FLOKI over the next two years. FLOKI price soared after the news before paring some of the gains.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Prices are however 67% up in the past week at the time of writing.<\/span><\/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-dao-outlines-proposal-to-burn-190-billion-tokens\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) New proposal seeks to burn 190 billion FLOKI tokens. Over $11 million worth of FLOKI tokens to be permanently removed if vote passes. Will FLOKI price explode? A new Floki DAO proposal seeks to reduce the cryptocurrency project\u2019s total supply by a staggering [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":26936,"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\/26935"}],"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=26935"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/26935\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/26936"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=26935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=26935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=26935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}