The Floki Trading Bot has officially launched its buyback and burn mechanism to reinforce the deflationary model that drives the FLOKI ecosystem. After resolving initial technical challenges that delayed the feature since the bot’s mainnet launch, all trades conducted through the bot will contribute to purchasing and burning FLOKI tokens.
FLOKI TRADING BOT BUY/BURN CONTRACT UPGRADE IS LIVE
The highly anticipated buy/burn mechanism of the Floki Trading Bot is now live after overcoming initial technical hurdles that prevented it from working since the mainnet launch of the bot. From today, all trades conducted… pic.twitter.com/rvaL7Dk3PO
— FLOKI (@RealFlokiInu) October 18, 2024
This new feature directly impacts the $FLOKI token supply by reducing the circulating tokens with every trade. The bot will also apply approximately $1 million in result fees from previous trades to the buyback and burn process as part of the upgrade. The bot charges a 1% fee on each trade, with 50% allocated for buying and burning FLOKI tokens, while the remaining 50% is directed to the Floki Treasury.
Enhanced Deflationary Model for FLOKI
The newly introduced buyback and burn mechanism is working effectively in accordance with FLOKI’s long-term goal of creating deflation in the ecosystem. The project proposals set out to reduce the total token supply, making FLOKI more valuable as the days progress. These changes should be well received by traders and investors who want to include deflationary assets in their investments.
The Floki Trading Bot, which covers return on Ethereum, the Binance Smart Chain, and the Base, gives users an efficient multi-chain trading platform. It also delivers a simple answer to the problem of fast and smooth trades. The bot’s new feature creates further value for the FLOKI token, anchoring it more in the DeFi ecosystem.
Another Important Step on FLOKI’S Road Map
This update is significant for FLOKI as the development team demonstrates its commitment to sustainable growth for FLOKI’s community by following its roadmap. It gains further utility by incorporating the buyback and burn mechanism of tokens within the Floki Trading Bot. It fits into the extended goals of offering a deflationary and sustainable environment.