WLFI Token Price Drops 14% After Controversial Token Unlock Proposal Goes to Vote
Cointelegraph
The WLFI token fell 14% as a contentious governance proposal to lock over 62 billion tokens for early investors and insiders went to vote.Summary
The World Liberty Financial (WLFI) token price declined by approximately 14% following the launch of a controversial governance vote regarding token vesting. The proposal seeks to impose a two-year cliff on over 62 billion tokens held by insiders and early investors, followed by linear vesting schedules. While the vote is currently passing with 99.95% in favor, it has faced significant backlash from industry figures like Simon Dedic and Justin Sun, who criticized the move as resembling a "rug pull." The project team maintains that the lock-up is intended to ensure long-term commitment from stakeholders.
(Source：Cointelegraph)