A proposal by World Liberty Financial to release 62 billion WLFI tokens is on track for approval, with overwhelming support in early voting. The plan involves a 10% token burn by founders, team members, and partners, amounting to 4.5 billion WLFI, followed by a five-year unlocking schedule for the remaining 40.7 billion tokens after a two-year cliff period.
This move aims to introduce a predictable token supply and provide a clearer exit strategy for holders. With 99.5% of voters in favor, the proposal highlights 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.
Meanwhile, World Liberty Financial is facing a lawsuit from Tron founder Justin Sun, who claims his tokens were frozen and governance rights were revoked, allegations the company has denied.