A proposal by World Liberty Financial to unlock 62 billion WLFI tokens has garnered overwhelming support, with early voting results exceeding the required quorum and showing near-unanimous backing. 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 following a two-year lock-up period. As a result, no tokens will enter the market for at least two years, introducing a predictable supply schedule and a clearer exit strategy for holders. The voting results reveal a high level of consensus, with 99.5% of voters supporting the proposal.
However, the voting process also highlights the concentration of governance power among a small group of large holders, with the largest wallet holding nearly 13% of the votes cast and the top four wallets collectively controlling around 40% of the total voting power. Additionally, World Liberty Financial is facing a lawsuit from Tron founder Justin Sun, who claims that his tokens were frozen and his governance rights were revoked, allegations that the company has denied.