Wise Monkey has reportedly taken a bold decision in terms of token locking. As per Wise Monkey, it has locked up to 1.5T $MONKY tokens (accounting for $24M) in FlokiFi’s advanced token locker making a big change in tokenomics. The platform revealed this event on its official social media account on X.
Wise Monkey has locked 1.5 trillion of their $MONKY tokens (~$24M) for 999 BILLION years with $FLOKI‘s cutting-edge token locker protocol FlokiFi Locker.
That’s 15% ofthe $MONKY supply removed from circulation, for eternity.
Indeed, not bad for a bunch of monkeys!
https://t.co/YrVPuK5AQy pic.twitter.com/q70fY2XTdY
— FLOKI (@RealFlokiInu) December 26, 2024
Wise Monkey Removes 15% Supply of $MONKY Token
Wise Monkey mentioned that the development to lock 1.5T $MONKY tokens denotes a noteworthy move. This permanently removes $25M, accounting for 15% of the total $MONKY supply. In this respect, the move may have a notable impact on $MONKY’s tokenomics. The platform efficiently burned the tokens before sending them to FlokiFi Locker. The respective strategic decision highlights Wise Monkey’s commitment to promote long-term stability.
FlokiFi, a project that the Floki Inu team has developed, is getting rapid traction because of its go-to protocol which enables transparent, irreversible, and secure token locking. The protocol lets the consumers securely lock tokens, ensuring the permanent removal of the tokens from the market. The bold decision of locking a 15% token supply emerges after a previous removal of 7% of the cumulative $MONKY supply. Both these actions denote a 22% of the locked token supply. This points toward Wise Monkey’s long-term vision concerning token scarcity. Moreover, it also focuses on the endeavors to increase the stability of the overall Wise Monkey ecosystem.
The Development Can Influence the Token’s Price and Demand
Floki Inu also celebrated this development and appreciated Wise Monkey’s trust to lock the tokens. According to Wise Monkey, this is just a glimpse of the huge developments to be unveiled during the year 2025. While the community anticipates the potentially big moves following the new year, the current event shows the potential to influence the demand and price of the $MONKY token.
