A proposal by World Liberty Financial to unlock a massive 62 billion WLFI tokens has garnered overwhelming support, with the majority of votes surpassing the required threshold and showing near-unanimous backing. The plan involves a token burn of 10%, equivalent to approximately 4.5 billion WLFI, held by founders, team members, and partners, which would initiate the unlocking of the remaining 40.7 billion tokens over five years, following a two-year lockup period.
This development introduces a significant structural change in the valuation of WLFI, replacing indefinite lockups with a predictable supply schedule and providing a clearer exit strategy for holders. The voting results, with 99.5% in favor, underscore the concentrated nature of WLFI's governance, where a small group of large holders wield substantial influence over major decisions, including tokenomics. Notably, the largest wallet holds nearly 13% of the voting power, while the top four wallets collectively control around 40% of the total voting power, sufficient to sway outcomes.
Meanwhile, World Liberty Financial faces a lawsuit from Justin Sun, founder of Tron, who claims his tokens were frozen and his governance rights revoked, allegations the company has denied.