A proposal by World Liberty Financial to unlock 62 billion WLFI tokens has garnered significant support, with voting results showing near-unanimous approval. The plan involves insiders burning 10% of their token holdings, approximately 4.5 billion WLFI, to initiate a five-year unlocking schedule for the remaining 40.7 billion tokens after a two-year period. This move aims to introduce a predictable token supply and provide a clearer exit strategy for holders. The voting outcome, with 99.5% in favor, underscores the concentrated nature of WLFI's governance, where a small group of large holders wield significant influence over tokenomic decisions.
Notably, the largest wallet holds nearly 13% of the voting power, and the top four wallets combined control 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 his governance rights were revoked, allegations the company has denied.