The Floki Inu community overwhelmingly supported a recent governance proposal to burn 4.2 trillion FLOKI tokens on a cross-chain bridge in order to reduce transactional tax. According to developers, the proposal passed with a 99.97% majority voting in favour of burning the bridge tokens and 0.03% voting against it. The FLOKI transaction tax will be reduced to 0.3% effective 8 PM UTC on February 3, while the 4.2 trillion tokens will be permanently burned on February 9, 2023, at 8 PM UTC. According to CoinGecko data, the scheduled token burn is worth more than $100 million as of Monday.
