TokenFi Officially Eliminates 0.3% Buy/Sell Tax On its Native TOKEN Following Unanimous DAO Vote

After a unanimous decision by the Floki DAO, TokenFi has formally removed the 0.3% buy/sell fee on its native token, TOKEN.

The result shows that the Floki and TokenFi communities firmly believe that reducing trade friction is crucial to boosting accessibility and enabling the token’s wider range of uses.

“The Floki DAO proposal to remove the 0.3% buy/sell tax on $TOKEN received 100% support from the community,” the project team announced. “In line with the decision of the Floki DAO, the buy/sell transaction tax on $TOKEN has been removed.”

Both the Ethereum and BNB Chain networks have already implemented the tax elimination.

This is one of the few DAO votes with complete alignment, as the initial proposal, which was released via Snapshot, was fully supported.

By lowering obstacles for both new and current holders, TokenFi hopes to promote greater adoption now that the buy/sell tax is set at zero percent. The action might potentially increase market efficiency and TOKEN’s liquidity on decentralized exchanges.

Connected to the Floki ecosystem, TokenFi attempts to establish TOKEN as a governance asset and utility across all DeFi systems. One action being taken to increase the token’s practical applications and trading appeal is lowering transaction friction.

The modification takes effect right away.

With just a few clicks and a WYSIWYG interface, users can tokenize real-world assets (RWAs) using TokenFi, an all-in-one tokenization platform that requires no technical knowledge. TokenFi wants to streamline and expedite moving assets on-chain, positioning itself to capitalize on the $16 trillion tokenization market by 2030.

Supported by the Floki ecosystem, TokenFi is run by the same core team that created the well-known Floki token and is overseen by the Floki DAO. The platform’s utility token, TOKEN, powers several tools, including the RWA Module, AI Smart Contract Auditor, and TokenFi Launchpad.