- World Liberty Financial investors are protesting a new plan that threatens to freeze their tokens for years.
- The vote on the plan will last seven days and a quorum of 1 billion WLFI will be required to make a decision.
The Trump family’s cryptocurrency company, World Liberty Financial, is facing backlash over a new offers lock up tokens purchased by early investors for up to four years, and in some cases, indefinitely.
The offering will affect 62,28 billion WLFI. Early investors currently hold 17,04 billion tokens, which will be locked for two years and gradually unlocked over the next two years. Therefore, full access to these assets will become available around 2030. Nearly 90% of the 45,23 billion tokens distributed among the founder, team, and partners will be unavailable for five years, with a two-year delay before the issuance begins. And 10% of this amount will be permanently burned.
Unsurprisingly, WLFI holders criticized the company’s plan. The largest investor, Justin Sun, with a 4% stake, call This strategy is “one of the most absurd governance scams I’ve ever seen,” in part because of the voting mechanism. Sun stated that some major shareholders, including himself, were unable to participate in the vote because their assets had already been frozen.
Simon Dedic, founder of Moonrock Capital and token holder, also said, that those who invested in the project in the early stages in the hope of liquidity, now “disappointed”.
Essentially, this gives them another chance to squeeze out the same lemon they’ve been blowing up for the past two years. And, surprisingly, this coincides with the remainder of Donald Trump’s term in office. added he.
Last week the editorial staff Happy Coin News Wrote, that the team of the crypto project World Liberty Financial blocked Justin Sun’s wallet, containing 544 million WLFI tokens, costing him approximately $70 million. The Trump family’s largest backer of the project has since become its most prominent public critic.
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