WLFI drops 17% as vote to lock 62B tokens opens

World Liberty Financial’s WLFI fell about 17% on Wednesday. A governance vote to lock 62,282,252,205 tokens went live. Backlash followed fast.

WLFI traded near $0.06, per CoinGecko. That’s down roughly 70% since market debut.

The new proposal forces strict vesting on early holders and insiders.

• Early investors: 2-year cliff, then 2 years linear vest.
• Founders, team, advisers: 2-year cliff, then 3 years linear vest.
• Voting runs through May 7, per the announcement.

The team calls it long-term alignment. “62,282,252,205 locked WLFI tokens are subject to this proposal,” they said on X. “None of it touches the market for a minimum of two years if passed.” Source: World Liberty Financial; project site: worldlibertyfinancial.com.

On-chain voting is heavily in favor on paper. 99.95% support as of Wednesday. Quorum of 1 billion reached. About 6 billion votes for, 3.2 million against. See proposal dashboard.

Criticism is intense on X. Many replies slammed the design.

A key flashpoint: non-voters risk having tokens locked with no end date, per the proposal’s mechanics. See proposal details. Detractors called this coercive.

Moonrock Capital’s Simon Dedic compared it to a rug pull and questioned timing. His post is here: Simon Dedic on X.