Floki: Burned over $770,000 worth of FLOKI last week

ChainCatcher news, the meme project Floki announced on the X platform that it burned over $770,000 worth of FLOKI last week. It stated that due to strong demand for Floki's utility products in the past week, 3,743,258,666 FLOKI tokens were burned, amounting to $772,234 as of now.

Floki further added that the burn was driven by two key Floki products:

1. The Floki DCA program, which has a 5 - 20% early withdrawal penalty, with the penalty appearing in the form of FLOKI dollar tokens. Whenever a Floki DCA investor withdraws early, the penalty is permanently burned.
2. The FlokiFi Locker DeFi crypto locker protocol purchases and burns $FLOKI tokens for every successful transaction on the ETH and BNB chains.