A public disagreement between Justin Sun, founder of Tron, and WLFI, a crypto project linked to the Trump family, has escalated after Sun denounced a new governance proposal. Sun claims the proposal is designed to punish those who vote against it, with token holders facing indefinite token lockups.
He also alleges that he and other major 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, with over 62 billion WLFI tokens subject to new terms, including multi-year lockups and vesting schedules.
Token holders who do not accept the new terms will remain locked indefinitely. Sun is not alone in his criticism, with other investors also speaking out against the proposal. A spokesperson for WLFI has defended the proposal, stating that it is intended to align all participants in the ecosystem for the long term.