A proposal by World Liberty Financial to release 62 billion WLFI tokens has garnered overwhelming support, with initial voting results surpassing the required quorum and showing near-unanimous approval. The plan involves a 10% reduction of token holdings by founders, team members, and partners, equivalent to approximately 4.5 billion WLFI, to initiate the unlocking of the remaining 40.7 billion tokens over five years, following a two-year lockup period. As a result, no tokens will enter the market for at least two years, introducing a predictable supply schedule and providing a clearer exit strategy for holders.
The vote has garnered 99.5% support, highlighting the concentrated voting power among a small group of major holders, with the largest wallet holding nearly 13% of the votes cast and the top four wallets controlling around 40% of the total voting power. World Liberty Financial is also 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.