TechFlow news, the Meme project Floki announced on X that it burned over $770,000 worth of FLOKI tokens last week. It stated that due to strong demand for Floki utility products over the past week, a total of 3,743,258,666 FLOKI tokens were burned, equivalent to $772,234 at the time of writing.
Floki added that the token burns were driven by two key Floki products:
1. The Floki Staking Program, which imposes a 5–20% early unstaking penalty paid in FLOKI tokens; whenever stakers withdraw early, these penalty tokens are permanently burned.
2. The FlokiFi Locker DeFi vault protocol purchases and burns $FLOKI tokens for every successful transaction on both the ETH and BNB chains.
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