Floki Token Tax Removed
Apart from burning 5 trillion tokens, the Floki community also discussed removing the transaction tax in their ecosystem. In an official statement, Floki developers said, "The second part of this proposal involves removing the 3% buy & sell FLOKI transaction tax (or, more accurately, reducing it drastically to 0.3%)."
According to them, they have looked carefully at the project's development, and feedback showed them that transaction taxes were doing more harm than good. Hence, the decision to remove the 3% tax from their ecosystem.
" We’ve gotten a lot of feedback about the transaction tax, paid attention to industry sentiments about it, and carefully looked at the data and our conclusion is that the tax is currently causing the project more harm than good and significantly limiting its growth and adoption. Many people (individuals and institutions) would NOT engage with a token with a high transaction tax," Floki developers said.
