A proposal by World Liberty Financial to unlock a substantial 62 billion WLFI tokens has garnered significant support, with the majority of early voters backing the plan. The proposed strategy involves a token burn of approximately 4.5 billion WLFI, or 10% of the holdings of founders, team members, and partners, which would initiate a five-year unlocking schedule for the remaining 40.7 billion tokens following a two-year waiting period. This change aims to introduce a more predictable token supply and provide a clearer exit strategy for holders.
The voting results show a near-unanimous approval of the proposal, with 99.5% of voters in favor. However, the concentration of voting power among a small group of large holders has raised concerns, with the largest wallet holding nearly 13% of the votes cast and the top four wallets controlling around 40% of the total voting power.
Meanwhile, World Liberty Financial is facing a lawsuit from Tron founder Justin Sun, who claims that his tokens were frozen and his governance rights were revoked, allegations that the company has denied.