WLFI drops 14% as controversial token unlock goes to vote
The proposal to unlock more than 62 billion WLFI tokens over four to five years has 99.95% approval but is still facing backlash on X.
The native token of Trump-family-linked World Liberty Financial dropped nearly 14% on Wednesday as a controversial governance proposal that would place over 62 billion WLFI tokens under new multiyear vesting schedules went to a community vote.
The proposal was first submitted to the World Liberty governance community on April 15 and officially went live for voting on Wednesday. It proposes locking more than 62 billion WLFI tokens held by early investors and insiders for two years before gradually being released over a span of two to three years.
Voting runs until May 7. At the time of writing, 99.95% of votes are in favor of the proposal, and the quorum requirement of 1 billion WLFI tokens has already been met, with 6 billion tokens in favor and 3.2 million against.