Justin Sun Criticizes WLFI's Governance Proposal as 'Absurd'

A public feud between Justin Sun, founder of Tron, and the Trump-linked cryptocurrency project WLFI has intensified after Sun strongly condemned a new governance proposal. In a detailed post, Sun accused WLFI of devising a voting system that penalizes token holders who oppose the proposal, potentially locking their tokens indefinitely. He also alleged that he and other major holders were excluded from the voting process, with approximately 4% of the voting power under his control being frozen. Sun questioned the legitimacy of the vote, suggesting that control of the protocol rests with anonymous wallet addresses, including a multisignature setup that can override outcomes and a separate account capable of blacklisting users. The criticized proposal aims to overhaul token lockups across the WLFI ecosystem, with over 62 billion tokens subject to new terms, including multi-year lockups and vesting schedules. Token holders who do not accept the new terms would remain locked indefinitely. Sun's criticism was echoed by Simon Dedic, founder of Moonrock Capital, who stated that early investors had been 'rugged' by the proposal. A spokesperson for World Liberty Financial defended the proposal, stating it was designed to align participants in the WLFI ecosystem for the long term and ensure healthy market supply. The dispute marks the latest escalation in the deteriorating relationship between Sun and WLFI, which has been building for months.