WLFI faces backlash after ‘team wallets’ push through USD1 growth proposal
The top nine wallets controlled nearly 60% of voting power in WLFI’s USD1 governance vote, raising questions about insider influence as locked holders were unable to participate.
World Liberty Financial (WLFI) is facing criticism following a governance vote that approved a USD1 growth proposal, despite objections from the community over the lack of voting access for locked WLFI holders.
Onchain voting data shows that the largest “FOR” votes were cast by top wallets flagged as team-linked or strategic partner addresses, according to pseudonymous crypto trader and researcher DeFi^2.
The top nine wallets alone accounted for roughly 59% of total voting power, giving a small cluster of large holders effective control over the outcome of the USD1 growth proposal. The largest wallet alone contributed 18.786% of the total voting power based on the snapshot vote for WLFI governance.