The Floki Inu community has offered to burn 15,246,000,000 FLOKI, currently worth $2.8 million.
The project team explained that these actions are aimed at removing tokens from blacklisted wallets.
Why would Floki Inu burn 15.2 billion tokens?
Burning 15,246,000,000 FLOKI supported 2022 vote, as a result of which the community agreed to burn the excess restored tokens. When wallets are blacklisted, nothing can be done with the tokens other than sending them to a multisig wallet, so holders feel it is right to permanently remove these coins from the market.
In addition, Floki DAO promised to send 1% of the value of returned tokens, or about 154 million FLOKI, to voters as a sign of goodwill.
This is not the first time the community has voted to burn FLOKI. In February, a similar situation occurred with 190.9 billion coins recovered from a multi-chain bridge.
Following the announcement, FLOKI's price increased by over 11%, rising from $0.0001872 to $0.0002025, with trading volume increasing by 235.29% in the last 24 hours.
Source: Cryptocurrency
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