A public feud between Justin Sun, founder of Tron, and the Trump-linked cryptocurrency project WLFI has intensified after Sun denounced a new governance proposal as one of the most absurd scams he has encountered. In a post on X, Sun alleged that the proposal is designed to punish those who vote against it, with token holders facing indefinite lockups. He also claimed that he and other major holders had been excluded from the voting process, with around 4% of the voting power under his control being frozen.
Sun questioned the legitimacy of the vote, arguing that control of the protocol rests with anonymous wallet addresses, including a multisignature setup that can override outcomes and a separate account with the power to blacklist users. The proposal in question 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 has been echoed by other figures in the cryptocurrency space, including Simon Dedic, founder of Moonrock Capital, who accused the project of 'rugging' early investors. A spokesperson for World Liberty Financial defended the proposal, stating that it was designed to align all participants in the WLFI ecosystem for the long term and ensure healthy market supply. The dispute marks the latest escalation in the feud between Sun and WLFI, which has been building for months and has included accusations of exploitation and threats of legal action.