Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
Home»TRADING NEWS»Floki DAO Begins $24 Million Token Burn to Enhance Security
TRADING NEWS

Floki DAO Begins $24 Million Token Burn to Enhance Security

By Crypto FlexsMarch 4, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Floki DAO Begins  Million Token Burn to Enhance Security
Share
Facebook Twitter LinkedIn Pinterest Email

Floki DAO Begins $24 Million Token Burn to Enhance Security

Floki, a decentralized autonomous organization (DAO), announced that it has approved the burning of $24 million worth of tokens as a strategic move to strengthen its security measures. This decision, approved by the Floki community through a democratic voting process, means that over 190 billion Floki tokens will be retired, representing 2% of the total circulating supply.

The token burn, scheduled to take place within the next seven days, aims to achieve two main goals:

Enhanced Security

Floki seeks to strengthen its long-term security posture by eliminating a significant portion of its tokens. These proactive measures also help mitigate potential risks associated with market volatility due to security breaches or external consolidation.

Circulation control

Burning permanently removes tokens from circulation, providing greater control over supply dynamics.

Multichain Saga

Tokens designated for burning were originally intended to be utilized in collaboration with Multichain, a cross-chain bridge service. However, after careful consideration, Floki decided to withdraw tokens to an internally managed, secure multi-signature wallet.

The subsequent collapse of Multichain validated Floki’s proactive decision to protect its assets. By storing the tokens securely in an internal wallet, the team believes that initiating a burn is the most prudent action to prevent potential misuse in the future.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Coinbase Acquires Echo, Leading On-Chain Capital Raising Platform in $375 Million Deal

October 28, 2025

Why Elon Musk’s SpaceX transferred $133 million in Bitcoin

October 27, 2025

Stablecoin payments reach $10 billion with mainstream adoption

October 26, 2025
Add A Comment

Comments are closed.

Recent Posts

Stake USDT To Earn BTC With Up To 600% APR

October 28, 2025

Coinbase Acquires Echo, Leading On-Chain Capital Raising Platform in $375 Million Deal

October 28, 2025

US Bitcoin reports holdings of 3,865 BTC after recent acquisition

October 27, 2025

Swiss Bitcoin App Relai Acquires MiCA License In France

October 27, 2025

Tapzi Presale Gains Traction with DeepSnitch AI and Bitcoin Hyper

October 27, 2025

The first extension for Solana developers

October 27, 2025

River Public Sale – 48-Hour Dutch Auction Lowest Price Settlement, Claim And Refund Instantly After End

October 27, 2025

Jiuzi Holdings, Inc. Partners With SOLV Foundation On $2.8B TVL Bitcoin Initiative To Advance Crypto Treasury Strategy

October 27, 2025

Why Elon Musk’s SpaceX transferred $133 million in Bitcoin

October 27, 2025

Stablecoin payments reach $10 billion with mainstream adoption

October 26, 2025

Ethereum Rebounds from Bull Market Support: Can It Conquer the ‘Pocket of Gold’ Next?

October 26, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Stake USDT To Earn BTC With Up To 600% APR

October 28, 2025

Coinbase Acquires Echo, Leading On-Chain Capital Raising Platform in $375 Million Deal

October 28, 2025

US Bitcoin reports holdings of 3,865 BTC after recent acquisition

October 27, 2025
Most Popular

WebN Group and Laser Digital unveil Libre for asset tokenization

January 10, 2024

XRP dominant boom in Altcoins Bleed -Can you challenge Bitcoin, Ether Leeum?

March 14, 2025

Ethereum’s $31M Neiro Project Is a ‘Honey Pot’ — Wazz

July 28, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.