finance
World Liberty Financial Proposal to Unlock 62 Billion Tokens Nears Approval
A proposal by World Liberty Financial to unlock 62 billion WLFI tokens has received 99.5% support in an ongoing vote. The plan includes burning 10% of insider holdings and vesting the remainder over five years after a two-year cliff. The vote highlights concentrated voting power among a few large holders, amid a lawsuit from Tron founder Justin Sun.
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World Liberty Financial's proposal to unlock 62 billion WLFI tokens is on track to pass, with 99.5% of votes in favor and quorum already met, according to CoinDesk. The plan requires insiders, including founders, team members, and partners, to burn 10% of their holdings, approximately 4.5 billion tokens.
The remaining 40.7 billion tokens would then unlock over a five-year schedule following a two-year cliff period. No tokens would enter the market for at least two years due to the cliff.
The vote reflects concentrated governance in the project, with the top four wallets controlling about 40% of voting power. The largest wallet accounts for nearly 13% of votes cast. Participation levels are consistent with previous proposals, indicating that a small group of large holders can influence major changes.
The project is facing a lawsuit from Tron founder Justin Sun, who alleges that his tokens were frozen and his governance rights were removed. The company has denied these allegations. The proposal shifts the token supply to a more predictable schedule, replacing previous open-ended lockups. This change provides a clearer path for holders.
The development occurs as the project adjusts its tokenomics amid ongoing voting and legal matters. No immediate market releases are planned due to the vesting structure.
