World Liberty Fi Faces Allegations of Rigged Vote and Value Extraction

World Liberty Financial (WLFI), a DeFi project, faces allegations of manipulated governance votes. Prominent trader DeFi^2 claims affiliated wallets forced through a proposal while many token holders couldn't vote.

Allegations Overview

DeFi^2 highlights a "rigged" vote involving team and partner wallets dominating the process.
The contentious "USD1 growth proposal" was prioritized over unlocking WLFI tokens for public holders.
WLFI economics: 75% of protocol revenue goes to the Trump family, 25% to the Witkoff family, with holders lacking protocol revenue rights.
Vote manipulation alleged, as initial rejection turned into approval by team/partners.
Token allocation: 33.5% to WLFI team, 5.85% to strategic partners, 20% public sale.
Post-vote: 500 million WLFI tokens transferred to Jump Trading, while investor allocations remain locked.

DeFi^2 questions the value of WLFI's $17 billion token, citing lack of governance power and revenue share. He has shorted WLFI due to expected continued downside from dilution and extraction practices. WLFI is currently trading at $0.1608.