$404,800+ IN Floki BURNED OVER THE LAST WEEK THROUGH STRONG UTILITY DEMAND
A week after we announced that $772,000+ in FLOKI tokens was burned due to strong utility demand, an additional 1,737,492,462.82 Floki tokens, worth $404,800+ at the time of writing this, were burnt in the past week alone through strong demand in Floki's utility products, making Floki perpetually deflationary compared to other memes like $DOGE, $SHIB, $PEPE, and $WIF.
These utility-based burns automatically remove Floki tokens from circulation as demand and use of Floki products increase. This will continue well into the future as the adoption of Floki Ecosystem products increases.
Specifically, these burns are driven by two key Floki products:
1. The Floki Staking program, which has a 5 - 20% early unstake penalty fee, which comes in the form of Floki tokens, which are burnt perpetually whenever a Floki staker unstakes earlier.
2. The FlokiFi Locker DeFi crypto locker protocol, which buys and burns Floki tokens for every successful transaction on the ETH and BNB chains.
While Floki is proud of its memecoin roots, we continue to emphasize our strong utility focus and fundamentals as one thing that makes us different and strongly positions us for dominance compared to other memecoins in the space—especially as we work towards our goal of being the world's most known and most used cryptocurrency.
Floki has seen strong momentum lately, which has resulted in increased adoption of our utility which is fueling the massive burns we've experienced recently. Indications show that this momentum is likely to continue into the bull run, which should result in a lot more Floki being burned in the future.
