O se tasi o Shiba Inu (sipa) 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 (TUSI) and SHIB competitor that was created when tech mogul and crypto enthusiast Elon Musk fai 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.
Fai mai le poloketi,
“I le mataupu a Floki, o le fa'aogaina o le matou alalaupapa fa'alava tele o le a i ai se fa'alavelave fa'afuase'i i le poloketi talu ai o lenei alalaupapa o lo'o umia nei le 55.7% o le aofa'i o sapalai fa'asalalau a FLOKI (e ui lava e fa'apea e loka/le-agai, se e mafai ona vave suia lena mea). O LE TELE lea o fa'ailoga, ma e sili atu na i lo le fa'amama ai o vaita'ele fa'aletupe a le poloketi ma fa'aleagaina ai le poloketi pe a fa'aaogaina.
E tusa ai ma lenei mea moni, matou te lagona o le a sili ona fiafia i ai le poloketi e faʻamalo tumau le matou alalaupapa faʻasalalau autu ma SUU faʻailoga i le alalaupapa pe a palota le DAO [faʻalapotopotoga tutoʻatasi tutoʻatasi] e lagolagoina le faia o lea mea.
le fuafuaga 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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Ata Fa'aalia: 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/