WLFI's price plummeted 14% as a controversial proposal to unlock 62 billion tokens sparked market unrest. Despite strong governance approval, with nearly unanimous voting results, the community expressed concerns over the long-term supply impact. The proposal, which introduces multi-year vesting schedules, has led to a sharp decline in WLFI's price from $0.073 to $0.064, reflecting traders' apprehensions about future supply changes.
The proposal, now live for voting until May 7, allocates approximately 45 billion tokens to founders, advisors, and early partners, with a two-year cliff and three-year vesting schedule. An additional 17 billion tokens are designated for early supporters under a similar structure. Despite the overwhelming on-chain support, community sentiment has turned negative, with prominent figures like Moonrock Capital's Simon Dedic and Tron founder Justin Sun criticizing the proposal. The potential introduction of a token burn mechanism, which could permanently remove 4.5 billion tokens, adds further complexity to the situation.
WLFI Drops 14% Amid Controversial 62 Billion Token Unlock Proposal
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