A proposal by World Liberty Financial to release 62 billion WLFI tokens has garnered significant support, with a vast majority of voters backing the plan. The proposed strategy involves a token burn of 10%, equivalent to 4.5 billion WLFI, held by founders, team members, and partners, which would initiate the unlocking of the remaining 40.7 billion tokens over a five-year period following a two-year lockup. This change introduces a predictable supply schedule and provides a clearer path for holders to exit, addressing previous uncertainties.
The voting results show 99.5% approval, underscoring the concentrated governance structure of WLFI, where a small group of major holders can significantly influence tokenomic decisions. Notably, the largest wallet holds nearly 13% of the voting power, and the top four wallets combined control approximately 40% of the total voting power, highlighting the potential for major decisions to be made with limited opposition. Additionally, World Liberty Financial is facing a lawsuit from Tron founder Justin Sun, who claims his tokens were frozen and his governance rights were revoked, allegations that the company has denied.