World Liberty Financial's plan to unlock 62 billion WLFI tokens is poised to succeed, with preliminary voting results showing a significant majority in favor. The proposed plan involves a token burn of approximately 4.5 billion WLFI, representing 10% of the holdings of founders, team members, and partners, to initiate the unlocking of the remaining 40.7 billion tokens over a five-year period after a two-year waiting period. This structural adjustment aims to provide a clearer and more predictable token supply, allowing holders a more defined exit strategy. The voting outcome, with 99.5% in support, underscores the concentration of 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 faces a lawsuit from Justin Sun, founder of Tron, who claims his tokens were frozen and his governance rights were revoked, allegations the company has denied.