A highly publicized dispute between Justin Sun, the founder of Tron, and WLFI, a cryptocurrency project linked to the Trump family, has intensified after Sun publicly denounced a new governance proposal. Sun claims that the proposal is designed to punish token holders who vote against it by locking their tokens indefinitely. He also alleges that he and other significant token holders have been excluded from the voting process, with roughly 4% of the voting power under his control being frozen. 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 has questioned the legitimacy of the vote, suggesting that control over the protocol lies with anonymous wallet addresses. The WLFI project has responded by stating that the proposal is intended to align all participants in the ecosystem for the long term, ensuring optimal long-term participation and a healthy market supply.
The backlash marks the latest episode in the deteriorating relationship between Sun and the project, with tensions escalating over the past few months.