Phase 1 of the FLOKI DAO Upgrade (aka “Nottingham Upgrade”) Completed
We have successfully completed Phase 1 of FLOKI’s upgrade to transition to a DAO.
The Phase 1 upgrade, also known as the Nottingham Upgrade, has been a great success.
This update gives an overview of how the upgrade went and what you can look forward to.
The FLOKI contracts on the ETH and BSC blockchains have been upgraded to have DAO functionality:
The FLOKI contracts on the ETH and BSC blockchains have been upgraded to a new, enhanced contract with voting and governance.
These new contracts are the building blocks upon which the FLOKI DAO will be built.
These are the new FLOKI smart contract addresses to use going forward:
ETH : 0xcf0c122c6b73ff809c693db761e7baebe62b6a2e
The main liquidity pool of the old contracts (on Uniswap V2 & PancakeSwap) have been frozen and it is impossible to buy or sell tokens on them anymore.
Every FLOKI holder has been airdropped 1:1 what they held before the upgrade began at 8am UTC on Saturday, January 22, 2022.
Going forward, the upgraded FLOKI smart contracts have full DAO functionality and the team will gradually roll out DAO features until FLOKI becomes a full DAO.
The Nottingham Contract Gets a Few Enhancements
Besides having DAO functionality, the FLOKI smart contract also got a couple enhancements including:
- A liquidity tax that adds a percentage of every transaction to the liquidity pool to ensure the FLOKI liquidity pool continues to increase and grow over time — allowing for larger trades without as much volatility over time.
- An anti-whale dump mechanism that the DAO can vote to retain or disable. This mechanism taxes extreme dumps with a very high price impact that could crash the liquidity pool with higher tax. This tax is sent to the multisig wallet to further develop the project.
There are a couple other fun additions. The Release Notes for the new contract will be published soon and will reveal all the functionalities of the new contract.