A proposal to unlock 62 billion WLFI tokens has garnered significant support, with voting results indicating a near-unanimous approval. The plan involves a 10% burn of holdings by founders, team members, and partners, equivalent to approximately 4.5 billion WLFI tokens, which would initiate the unlocking of the remaining 40.7 billion tokens over a five-year period, following a two-year cliff. This structural change aims to provide a clearer valuation and exit path for token holders. The voting results, with 99.5% in favor, highlight the concentrated governance structure, where a small group of large holders wield significant influence, with the largest wallet holding nearly 13% of the votes and the top four controlling around 40% of the total voting power.
Meanwhile, World Liberty Financial is also facing a lawsuit from Justin Sun, founder of Tron, who claims his tokens were frozen and governance rights were revoked, allegations that the company has denied.