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The Floki project is aiming to burn a total of 190.9B FLOKI coins worth about $11M, which will, in turn, increase the security of the project in the long run.
Initially, the tokens held by the project had been invested into the Multi Chain bridge service, but they were later released due to concerns on security issues.
Only at this moment the Floki DAO is discussing the proposal, the number of votes for the burning in compliance with the current rules is 88% so far as you read this sentence. Casting the vote is ongoing as tomorrow will be the day of conclusion.
The goal of this urgent idea is to eliminate any possibility that these currencies, if integrated into the cross-chain bridge, may violate market laws and regulations. The FLOKI coin in particular has been going wild recently, with a surge greater than 122% this week and a further jump of around 35% on Friday.Â
Also read: US Energy Halts Data Collection on Crypto Mining Energy Use
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