A management proposal to unlock 62.2 billion $WLFI tokens, submitted by World Liberty Financial, a decentralized finance (DeFi) project linked to the Donald Trump family, was overwhelmingly approved by the community.
In the vote, the ‘yes’ votes reached 99.9% with 11.2 billion $WLFIwhile there were only 11.2 million “no” votes $WLFI. The proposal was thus approved, exceeding the required 1 billion $WLFI by about 11 times.
The bid, which started on April 29 and ended today, totaled 62.28 billion $WLFI tokens in a restructured vesting program. Of this, 17.04 billion $WLFI consists of tokens locked by early backers, while 45.23 billion $WLFI consists of tokens of the founding team, advisors and business partners.
Related news Hot Comments from Ripple’s CEO: Will They Buy Back? $XRP? Has the company moved from $XRP?
One of the most notable steps in the proposal is to permanently burn 10% of the tokens of the founding team, advisors and partners. About 4.52 billion $WLFI Tokens are planned to be completely withdrawn from circulation, with the remaining amounting to approximately 40.7 billion tokens $WLFI tokens are expected to be released after a two-year lock-up period spread over a five-year period.
World Liberty Financial management stated that while the current key mechanism was suitable for an investor structure that provided long-term management commitment in the early stages of the project, the ecosystem has now matured significantly. The statement argued that the platform now features products, institutional partnerships, on-chain proof-of-reserve, and a more advanced DeFi infrastructure.
Under the new plan, early supporters will retain their tokens in full and will be subject to a four-year distribution schedule. However, only the founding team, advisors and partners will be subject to token burn.
*This is not investment advice.