PROPOSAL: BURN 15,246,000,000 $FLOKI TOKENS

We would like to put forward a proposal to burn 15,246,000,000 $FLOKI tokens.

Historically, we’ve had three key burn-related DAO votes:

A vote to burn 190,918,585,431.84 $FLOKI tokens recovered from the Multichain bridge in February 2024. A pivotal vote to disable the Floki cross-chain bridge and burn 4.97 trillion tokens it held in January 2023. A vote about whether or not to burn excess tokens recovered from the blacklisted wallet in July 2022.

In each of these cases, the decision of the Floki DAO was swiftly executed, making it clear that Floki is a completely decentralized cryptocurrency and the Floki DAO ultimately determines the direction of the project.

When we last put forward a proposal in July 2022 on whether or not to burn the excess tokens recovered from blacklisted wallets, we communicated a deadline for these tokens to be sent in. Some of the affected wallets did not send in the tokens before the deadline, however.

Recently, one of the affected wallets sent 15,400,000,000 $FLOKI tokens, a sizeable sum (currently worth over $2.8m million), to the Floki multisig and pleaded for a small incentive in return.

We would like to propose returning 1% of the tokens that were returned to the affected wallet, as a gesture of goodwill, and burning the rest for the following reasons:

Giving the affected wallet 1% of the tokens returned could incentivize other affected wallets to send in the excess tokens they currently hold. At the time of the last DAO vote, we communicated that excess tokens not returned should be considered burnt and inaccessible since the blacklisted wallets cannot do anything with them besides sending them to the Floki multisig. As such, we feel it is only fair to burn the returned token to permanently remove it from circulation, in line with the expectations the community has about these tokens.

If the Floki DAO votes in favor of this proposal, we will send 1% of the value of the returned tokens (154,000,000 tokens) back to the affected party and burn the rest (15,246,000,000 tokens currently worth ~$2,800,000).