WLFI Buyback And Burn Proposal Receives Strong Support

The World Liberty Financial (WLFI) proposal to burn tokens has received overwhelming support after living 24 hours ago.

suggestion 100% of the fees generated by the liquidity positions of the project at Ethereum, Binance Smart Chain, Solana, and 100% of the fees for WLFI’s open market purchases. These tokens are permanently removed from the supply and have less ciphers.

This project specified that fees collected from community or third-party LPS will not be affected as part of this proposal.

Token holders vote in favor of buyback and burn programs

WLFI aims to burn more tokens as more people trade with crypto. All transactions generate fees, which will be used to remove WLFI from distribution, the team said.

The program is designed to remove tokens from distribution held by participants who are not committed to the long-term growth and direction of WLFI, which will effectively increase the “relative weight of dedicated long-term holders,” according to the proposal, the team said.

All burns are recorded on the chain and reported to the community.

The team said they looked at alternatives, such as splitting fees between the Treasury and the Treasury Department of the Project, but chose to use all fees for token buybacks and burns, as they consider this a community preference.

According to the project’s governance portal, the proposal has already won 3,871 votes from token holders. The overwhelming number of these votes, 99.68%, supports buyback and burn programs. Meanwhile, 0.25% of votes came from token holders who chose to abstain. 0.07% of votes were scheduled to reject the proposal.

Voting for the proposal was activated late yesterday and will close on September 18th.

If the proposal is approved, the team said it would treat it “as a basis for ongoing acquisitions and burn strategies.”

“Over time, we will consider expanding our program to include additional sources of protocol revenue, with the aim of steadily increasing the size of WLFI buybacks and burns as the ecosystem grows,” the WLFI team wrote in its proposal.

WLFI will resume its bearish monthly trends after the proposal is published

After the proposal was published, the price of WLFI exceeded 1%, trading at $0.1975 at 8:50 AM, with data from CoinMarketCap show.

WLFI Price Chart (Source: CoinMarketCap)

This is what appears to be a reversal of the negative trend in the long-term monthly time frame after the token has been able to climb over 6% in the past week. However, recent DIP has extended Altcoin losses over the past month to over 13%.

WLFI is over 50% from its all-time high (ATH) set on September 1st, the same day it debuted on major crypto exchanges including Binance, Kucoin and others.

Part of that decline since the project was launched was due to controversy over the project after it began blacklisting addresses for early investors. One of these investors was Justin Sun, founder of billionaire Tron.

WLFI launches USD1 Stablecoin’s “Project Wing”

World Liberty Financial is a Decentralized Finance (DEFI) project with connections between President Donald Trump and his family, and is one of many ventures in the digital assets field.

The project’s native WLFI tokens were not originally tradeable and were primarily used as governance tokens. However, the community voted to change this and make the tokens tradeable, leading to their debut on the top exchange platform.

In addition to the WLFI token, the project also has its own Stablecoin called World Liberty Financial USD (USD1).

The top 5 largest stub coins by market capitalization (Source: coinmarketcap))

USD1 is currently ranked as the fifth largest Stablecoin by market capitalization, with capitalization of over $2.6661 billion.

Only Dai (Dai), Athena USDE (USDE), USD Coin (USDC), and Tether (USDT) exceed USD1.

Recently, team announcement It says its “Project Wing” campaign will be a “new chapter in Solana’s USD1.” As part of the campaign, the USD1 pair is now available for release at Bonk.Fun and Raydium’s LaunchLab.

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