A proposal by World Liberty Financial to unlock 62 billion WLFI tokens has garnered significant support, with voting results indicating a near-unanimous decision. The plan involves burning 10% of holdings, equivalent to 4.5 billion WLFI, and subsequently unlocking the remaining 40.7 billion tokens over a five-year period, following a two-year waiting period. This strategic move introduces a predictable token supply and provides a clearer exit strategy for holders. The voting results, with 99.5% in favor, underscore the concentrated voting power among a handful of major 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, the founder of Tron, who alleges that his tokens were frozen and his governance rights were revoked, claims that the company has denied.