A proposal by World Liberty Financial to unlock 62 billion WLFI tokens is on the verge of passing, with overwhelming support in the early voting stages. The plan involves founders, team members, and partners relinquishing 10% of their holdings, approximately 4.5 billion WLFI, to initiate a five-year unlocking schedule for the remaining 40.7 billion tokens after a two-year lockup period. This strategic move introduces a predictable supply schedule, replacing indefinite lockups and providing a clearer exit strategy for holders. With 99.5% of voters in favor, the proposal highlights the concentrated nature of WLFI's governance, where a small group of large holders wield significant influence over tokenomic decisions.
The largest wallet holds nearly 13% of the voting power, while the top four wallets collectively control around 40% of the total voting power, allowing them to substantially impact the outcome. Meanwhile, World Liberty Financial is facing a lawsuit from Tron founder Justin Sun, who claims his tokens were frozen and governance rights revoked, allegations the company has denied.