Trump-backed World Liberty Financial published a governance proposal Wednesday to unlock 17 billion WLFI tokens for early supporters through a two-year cliff and two-year vesting schedule, while making 40 billion tokens tradable over five years for founders and team members and burning 4.5 billion insider tokens. The proposal drew fierce criticism from major investor Justin Sun, who invested $75 million and called it an 'absurd governance scam' and tyranny, accusing the project of embedding secret backdoors and punishing dissenters after the company blacklisted his tokens in September. WLFI token price has plunged 65% from $0.23 in September to about $0.08, near all-time lows, while 80% of early supporter tokens remain locked and the project faces scrutiny for borrowing $75 million from Dolomite using 5 billion WLFI as collateral. The proposal forces token holders to accept vesting terms or face indefinite lockup, with Sun arguing the vote excludes large holders and can be overwritten by anonymous smart contract controllers.
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