WLFI Governance Token To Become Tradable After Vote

byrn
By byrn
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World Liberty Financial (WLFI), the crypto project backed by US President Donald Trump and his family, will make its governance token tradable following an investor vote.

The crypto will be tradable through secondary markets and peer-to-peer transactions, opening it up to market forces.

That’s after a proposal received an “overwhelming” 99.94% vote in favor of unlocking the tokens, which, up until now, were only available in a closed network.

Investors will also be able to participate in WLFI’s governance decisions, such as emissions, ecosystem incentives and future treasury actions.

Trump-backed World Liberty FinancialTrump-backed World Liberty Financial

Early WLFI Investor Tokens Will Be Prioritized In Staged Unlocks

The move to unlock tokens is part of a push to enable “open participation” within the WLFI ecosystem, the team said. 

Not all of the WLFI tokens will be unlocked initially. In the original proposal, the team said only a “portion” of the tokens that were sold to early investors will be tradable.

Thereafter, the unlock and release schedule for the remaining tokens will be determined through a second vote by the community, according to the team.

Tokens belonging to founders and WLFI team members will not be unlocked, and will instead follow a longer schedule. Details regarding the timing and eligibility requirements are still being determined. 

The team has also teased a full launch plan that is “coming soon.”

Trump Family Reduces Stake In WLFI Amid Scrutiny

WLFI launched on Sept. 16, 2024, before Trump was elected for a second term, and was endorsed by the now US President and his family. 

A financial disclosure in June with the US Office of Government Ethics shows Trump generated a $57 million profit from WLFI. This is as the Trump family reportedly decreased its stake in the project since December last year, likely due to growing scrutiny around Trump’s crypto dealings and power to influence regulations in the US.

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