Jedan od Shiba Inua (shib) biggest rivals just voted to burn nearly 5 trillion of its tokens, which is about half of its total supply.
Floki (FLOCY) is a Dogecoin (DOG) and SHIB competitor that was created when tech mogul and crypto enthusiast Elon Musk rekao he was naming his puppy “Floki.”
FLOKI now has a market cap of $231 million – with prices 92.6% down from all-time highs, currently trading at $0.00002472.
Now, the Floki Inu community has voted to burn 4.97 trillion tokens as part of a recent proposal that focuses on reducing the risk surrounding the cross-chain bridge that currently holds the tokens.
kaže projekat,
„U Flokijevom slučaju, eksploatacija na našem glavnom lančanom mostu bi imala katastrofalan uticaj na projekat jer ovaj most trenutno drži 55.7% od onoga što bi trebalo da bude FLOKI-jevog ukupnog optoka (iako bi trebalo da bude zaključan/neaktivan, eksploatacija bi to brzo mogla promijeniti). Ovo je PUNO tokena, i to je više nego dovoljno da se iscrpe bazeni likvidnosti projekta i suštinski uništi projekat ako se iskoristi.
U svjetlu ove činjenice, smatramo da bi bilo u najboljem interesu projekta da se trajno onemogući naš glavni unakrsni lanac mosta i SPALI tokeni u mostu ako DAO [decentralizirana autonomna organizacija] glasa za to.”
The Predlog also includes the reduction of transaction tax that was previously used to help fund development. The FLOKI developers now suggest that the tax has become a net negative in the crypto bear market.
“We’ve gotten a lot of feedback about the transaction tax, paid attention to industry sentiments about it, and carefully looked at the data, and our conclusion is that the tax is currently causing the project more harm than good and significantly limiting its growth and adoption. Many people (both individuals and institutions) would NOT engage with a token with a high transaction tax.”
The proposal suggests to reduce the transaction tax from 3% to 0.3%.
At time of writing, the proposal has support from 99.97% of voters.
FLOKI is currently up 204% from this month’s opening price of $0.00000813, vastly outperforming SHIB, its main rival, by a significant amount.
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Istaknuta slika: Shutterstock/Nafees Zia
Source: https://dailyhodl.com/2023/01/30/shiba-inu-shib-rival-surges-204-in-just-one-month-votes-to-burn-nearly-5000000000000-tokens/