Floki’s TokenFi Removes 0.3% Buy/sell Tax on $TOKEN

Floki's decentralized autonomous organization (DAO) has officially voted to remove the 0.3% buy/sell tax on TokenFi  native token, $TOKEN. This decision, which received unanimous support from the community, marks a significant move towards enhancing the token’s accessibility and usability within the broader cryptocurrency market.

A Unanimous Decision from the Floki DAO

The proposal to eliminate the buy/sell tax on $TOKEN was made through the Floki DAO, a key governance body in the Floki ecosystem. The vote, which was published via Snapshot, received 100% support, signaling a rare instance of absolute alignment within a DAO vote. 

With the decision now implemented, the buy/sell transaction tax on $TOKEN has been officially set to 0%. This change is effective immediately across both the Ethereum and BNB Chain networks.

By eliminating transaction friction, TokenFi aims to create a more seamless and attractive trading experience for both new and existing holders of $TOKEN. Lowering these barriers could help unlock broader utility for $TOKEN across decentralized exchanges and improve liquidity, making it easier for investors and traders to engage with the token.

With no buy/sell tax in place, TokenFi hopes to encourage more participation in its ecosystem, both from users who wish to create tokens and from those looking to tokenize real-world assets.

The decision to eliminate the 0.3% buy/sell tax is expected to drive greater liquidity across decentralized exchanges. TokenFi has already taken steps to ensure that its platform is connected to exchanges and market makers, which will help improve liquidity and market efficiency.

Aiming for Broad Utility and Increased Adoption

TokenFi, part of the Floki ecosystem, is designed to offer users a no-code, all-in-one platform to create tokens and tokenize real-world assets (RWAs) easily. This approach lets users who may lack coding expertise to engage with the rapidly expanding world of tokenization.

The removal of the buy/sell tax is part of TokenFi’s larger strategy to position its native token, $TOKEN, as a key utility and governance asset across decentralized finance (DeFi) platforms. Simplifying the trading process for $TOKEN could pave the way for its broader use in decentralized applications, increasing its value and utility over time.

TokenFi’s long-term vision is tied to the growing asset tokenization market. Industry experts predict that tokenization could become a $16 trillion industry by 2030, and TokenFi is positioning itself to capture a significant portion of this market. 

TokenFi’s platform enables users to tokenize both digital and real-world assets with ease, making it an essential tool for those looking to tap into the benefits of blockchain technology and tokenization.

By simplifying the tokenization process, TokenFi aims to provide an efficient way for businesses and investors to bring assets on-chain without needing complex coding knowledge. 

TokenFi has launched on several prominent networks, including Ethereum, BNB Chain, opBNB, Base, and Arbitrum. 

The platform’s utility token, $TOKEN, plays a central role in powering TokenFi’s ecosystem. This token is used to facilitate the platform’s various tools and services, such as the TokenFi Launchpad, the AI Smart Contract Auditor, and the RWA Module. 

With plans for additional products and services, the platform aims to expand its ecosystem and increase the adoption of $TOKEN across DeFi platforms.