The online voting of the Floki Inu community is applicable to a recent remediation proposal, which seeks to ignite 4.2 trillion yuan of Floki tokens on the cross-chain bridge and reduce the transaction tax.

The real estate agent indicated that the proposal approved the burning of bridge tokens by 99.97% of the majority vote, and 0.03% of the people boycotted the proposal. The FLOKI transaction tax will be reduced to 0.3% from 8:00 p.m. UTC on February 3, and the 4.2 trillion yuan token will be permanently damaged at 8:00 p.m. UTC on February 9, 2023.

According to CoinGecko data, as of Monday, the use value of the set token ignition exceeded US $100 million.

Ignition of tokens is a way to reduce supply. Just keep the level consistent, it will add value to each token.

Therefore, the Floki Inu proposal emphasizes that the safety hazards related to bridges are another reason. According to WJB, more than US $2 billion of cross-chain bridges will be lost or stolen in the last year alone.

The proposal said: "More system loopholes and information have emerged, indicating that the cross-chain bridge is likely to form the Duoda Association, especially if they have a large supply of tokens.".

"In the case of Floki, the use of our main cross-chain bridge will have a devastating direct impact on the new project, because the bridge currently owns 55.7% of Floki's total commodity circulation supply. This is also a lot of tokens. If used, it will be enough to consume the liquidity pool of the project, and most of the new projects will be destroyed," the developer added in the proposal that has been applied.

The real estate agent of Shiba Inu dog breed theme style new project Floki Inu previously informed WJB that this measure is part of a more comprehensive planning of positioning Floki Innu as a very serious decentralized financial (DeFi) project. In the past few months, the team has launched new projects in progress, such as Floki Locker and Valhalla.

Flocky Interchange

Floki first sold tokens in Ethereum, with a total supply of 10 trillion yuan. According to the regulations of the community, it finally expanded to the BNB chain with relatively fast speed and lower price in 2021.

The team can only issue another contract on the BNB chain, and its total supply is 10 trillion yuan. However, this requires a cross-chain bridge to ensure that the total commodity circulation supply of FLOKI in all given time periods cannot exceed the total supply of 10 trillion yuan of tokens, and allow users to transfer FLOKI from Ethereum to BNB chain, and vice versa.

At that time, the team applied the 600 billion token assets in Ethereum and BNB Chain to provide initial funds for the bridge.

Since then, most of the holders have locked FLOKI tokens on Ethereum and transferred them on the BNB chain. The developer wrote in the proposal: "Therefore, although the vast majority of supplies are still on the ETH chain, the balance has been reached now, that is, it is not easy to endanger the stability of new projects without bridges.".