A public disagreement between Justin Sun, founder of Tron, and the Trump-linked cryptocurrency project WLFI has intensified after Sun vehemently criticized a newly introduced governance proposal. Sun described the proposal as one of the most absurd governance scams he has encountered, alleging that it is designed to penalize token holders who vote against it by locking their tokens indefinitely.
Furthermore, Sun claimed that he and other significant holders were excluded from the voting process, with tokens equivalent to about 4% of the voting power under his control being frozen. The proposal in question seeks to overhaul token lockups across the WLFI ecosystem, affecting over 62 billion tokens with new terms including multi-year lockups and vesting schedules. Tokens held by insiders would be subject to a two-year lockup, followed by a three-year gradual release, and a 10% token burn for those who opt-in. 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 all participants in the WLFI ecosystem for the long term, ensuring healthy market supply. This dispute is the latest in a series of escalating tensions between Sun and WLFI, which began when WLFI blacklisted a blockchain address linked to Sun and has since involved accusations of user exploitation and threats of legal action.