A proposal by World Liberty Financial to unlock 62 billion WLFI tokens has garnered overwhelming support, with early voting results surpassing the required quorum and showing near-unanimous backing. The plan involves a 10% burn of holdings by founders, team members, and partners, equivalent to approximately 4.5 billion WLFI, to facilitate the gradual release of the remaining 40.7 billion tokens over a five-year period following a two-year lock-up. This move introduces a predictable supply schedule and provides a clearer exit strategy for holders.
The voting results, with 99.5% in favor, highlight the concentrated voting power among a small group of major holders, with the largest wallet holding nearly 13% of the votes and the top four wallets controlling around 40% of the total voting power. 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 the company has denied.