WLFI Community Supports Token Burn Governance Proposal
- Over 99% of votes, representing approximately 1.5 billion WLFI, support the governance measure.
- Fewer than 2 million tokens voted against the proposal, with around 5.8 million abstaining.
- Two whale addresses accounted for over 56% of the affirmative votes.
- The buyback program will use fees from protocol-owned liquidity on Ethereum, Binance Smart Chain, and Solana.
- Recently, the team burned about 47 million WLFI tokens valued at over $11 million from Treasury reserves.
The WLFI governance proposal aims to enhance token value by directing fees to repurchase and permanently destroy tokens, promoting scarcity and long-term value retention in the community’s native token strategy.
With a significant majority supporting the burn measure and substantial whale influence observed, this initiative could reshape WLFI’s market dynamics effectively (Source).
