PROCESS TO RENOUNCE BLACKLIST FUNCTION IN FLOKI CONTRACT INITIATED
The process to renounce the blacklist function in the FLOKI contract has been initiated.
The process will take about 48 hours to complete and involves two steps.
Here’s a breakdown:
Floki currently uses a modular smart contract. What this means is that we can introduce different modules with different capabilities into the current smart contract. One such module is the handler that allows the Floki team to blacklist/whitelist wallet addresses.
To renounce the blacklist function, the first step involves replacing the old handler that has blacklist functionality with a new handler that doesn’t allow blacklisting. The second (and final!) step involves renouncing the function that allows us to add/remove new modules/handlers. Once this is done, it becomes impossible to blacklist or ever introduce a function that allows blacklisting into the FLOKI contract ever again.
The first TX to swap out the handler that allows blacklisting/whitelisting has been executed today.
Here’s the TX on the FLOKI ETH contract:
Here’s the TX on the FLOKI BSC contract:
The second TX that renounces the ability to add/remove new modules (which essentially finalizes the process of renouncing the blacklist function!) should go live in about 48 hours. We’re targeting 5PM UTC on Tuesday for this.
Once the second TX has been executed, the process of renouncing the blacklist function is complete and irreversible.
Why wait 48 hours before initiating the second (and final!) transaction?
Quite simply, once the second transaction renouncing the ability to add/remove new modules has been executed it is irreversible… and it is important to ensure that there are no possible bugs/issues.
The 48 hours delay in initiating the second transaction is more of an observatory period to allow us to carefully monitor things to ensure all is working perfectly before the irreversible final renouncing — since there’s no going back once that’s done. This is being done out of an abundance of caution.
We will post a final TX hash here once the second transaction has been executed. This is to ensure complete transparency by providing proof that anyone can vet on the blockchain.
We expect this to happen 5PM UTC on Tuesday!
Something special to celebrate this move:
To celebrate the irreversible renouncing of the blacklist function, there will be a 24 hour celebratory period starting immediately the second (and final!) renounce transaction has been executed — starting 5PM UTC on Tuesday.
During this celebratory period there will be no tax on all FLOKI buy transactions.
This is being done based on observatory data and also to make a clear statement, and to give you ammo to get the word out far and near.
So make sure you go far and near (in groups you’re in, on social media, to your personal networks, etc) and get the word out about this.
Do note that while there will be no taxes on buy transactions during the celebratory period, taxes on sells will be doubled to 6% (to maintain the tax equilibrium!).