A proposal by World Liberty Financial to unlock 62 billion WLFI tokens has garnered overwhelming support, with early voting results exceeding the required quorum and showing near-unanimous approval. The plan involves burning 10% of holdings, approximately 4.5 billion WLFI, to initiate a five-year unlocking schedule for the remaining 40.7 billion tokens after a two-year waiting period.
This move introduces a significant change in WLFI's valuation structure, replacing indefinite lockups with a predictable supply schedule and providing a clearer exit strategy for holders. With 99.5% of voters in favor, the outcome highlights the concentrated nature of WLFI's governance, where a small group of large holders wield substantial influence over tokenomic decisions.
The largest wallet holds nearly 13% of the voting power, while the top four wallets combined control around 40% of the total voting power, allowing them to significantly impact the outcome. Meanwhile, World Liberty Financial is facing a lawsuit from Tron founder Justin Sun, who alleges that his tokens were frozen and his governance rights were revoked, claims that the company has denied.