World Liberty Financial (WLFI) is under scrutiny following a controversial governance vote on a proposal to increase the value of its USD1 stablecoin. The community has raised concerns about the voting process, highlighting that locked-up token holders were excluded, while a few affiliated wallets dominated the results. On-chain data reveals that the top nine wallets controlled 59% of the voting power, with the largest single wallet accounting for 18.786%. Critics, including anonymous researcher DeFi^2, argue that these votes were primarily from addresses linked to the team or strategic partners.
The controversy is further fueled by the project's revenue allocation, where 75% of net revenue is directed to entities associated with the Trump family and 25% to the Witkoff family, leaving WLFI holders without direct revenue sharing. Critics urge the project team to address unlocking issues for investors before advancing proposals that may dilute token holder rights.
WLFI Faces Backlash Over Governance Vote on USD1 Stablecoin Proposal
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