A proposal by World Liberty Financial to release 62 billion WLFI tokens has garnered significant support, with the majority of voters backing the plan. The proposal outlines a vesting schedule for founders, team members, and partners, who will initially burn 10% of their token holdings, or approximately 4.5 billion WLFI, to initiate the unlocking process for the remaining 40.7 billion tokens over a five-year period, following a two-year holding period. This change introduces predictability to the token's supply and provides a clearer exit strategy for holders.
The voting results show near-unanimous support, with 99.5% of voters in favor. However, the voting structure highlights the concentration of power among a small group of major token holders, with the largest wallet holding nearly 13% of the votes and the top four wallets controlling approximately 40% of the total voting power. Meanwhile, World Liberty Financial is facing a lawsuit from Justin Sun, founder of Tron, who claims his tokens were frozen and his governance rights were revoked, allegations the company has denied.