Floki Dao outlines the proposal to burn 190 billion tokens

• New proposal stipulates to destroy 190 billion floki tokens.
• floki token worth over $ 11 million are permanently removed if the vote is positive.
• Will the floki price explode?

A new floki-dao proposal aims to reduce the overall offer of the cryptocurrency project by an incredible 190 billion tokens.

The floki development team says that the massive combustion will make up 2 % of the circulating offer.

" We would like to submit a proposal for another massive $ floki token burn, similar to the one we had in January 2023. This time we are suggesting a burn of 190,918,585,84 $ floki tokens. That is about 2 % of the current circulation of the token, which is currently $ 11 million is worth ", says the proposal.

According to the details of the new DAO proposal, the token burn will contribute to long-term security and stability of the floki network. The burning of these tokens ensures that they are removed permanently.

The tokens in question are kept in a multi -ig-wall, since floki after a $ 130 million exploit, which the cross-chain bridge Multchain hit, is "only narrowly". The team says that burning these floki tokens worth $ 190 billion is "the only trustworthy way to guarantee that they will never be in circulation."

A community vote on the proposal runs from February 29, 2024 to March 2, 2024.

" If the floki dao votes for the burning of these tokens, you will be burned within a week after the DAO vote. If the floki dao votes against the burning of these tokens, you will be kept in the Floki treasure chamber ", said the development team.

floki price

In January 2023, Floki burned its native tokens worth more than $ 124 million. The price of the meme coin rose by more than 70 %after the historical fire. The floki price has also risen in the past few weeks, since meme coins have risen to a multi-year high of 64,000 US dollars in the middle of Bitcoin.

was also remarkable report Floki worth $ 10 million on the market for the next two years. The floki price rose after the news of the news before giving up part of the profits.

However, the prices rose by 67 % last week at the time of writing.