The Floki DAO permanently burned 4.97 trillion FLOKI tokens in the main bridge and lowered the transaction tax to 0.3%.
The proposal to destroy both bridge tokens received approval after receiving a vote of 99.97% in favor of doing so and just 0.03% voting against it.
The 4.97 trillion FLOKI tokens that were being destroyed at the time of the vote had an initial value of $55 million, but by the time the vote was finished, their value had increased to $102 million.
In line with the decision made by the Floki DAO, the rate of the FLOKI transaction tax will be lowered to 0.3% effective of February 3 at 8 PM UTC.
All 4.97 trillion FLOKI tokens that were stored in the primary Floki cross-chain bridge will be destroyed for good by the time the clock strikes 8:00 PM UTC on February 9, 2023.
To find out if Centralized Exchanges (CEXs) where Floki is listed would need help in bridging their tokens prior to the permanent bridge token burn, the team is actively communicating with them. This will let them to assess whether or not they need assistance.
In addition, the team would be providing arrangements for FLOKI token owners who wanted to transfer their FLOKI tokens from the ETH chain to the BNB chain prior to the permanent bridge token burn. These FLOKI token owners could do so by transferring their FLOKI tokens from the ETH chain to the BNB chain.
Floki Inu is now trading at a price of 0.000002312 dollars per token.
Compiled by Coinbold