WLFI token falls 18% as governance vote branded a scam
The vote has already passed the required number of votes by 657%. The proposal will keep 17 billion early supporter WLFI tokens from being tradeable for another two years. After this, a two-year “linear vest” will take place, where the tokens will be gradually unlocked for the market. This means some early investors will have to wait another four years to see the entirety of their WLFI tokens unlocked. Yes votes were also practically coerced into voting, as WLFI stated that token holders voting against “will continue to be locked indefinitely,” and restricted to just governance vote participation. The vote wasnt well-received In the WLFI forum, theres a mix of support and discontent over the two-year locking schedule and two-year vesting period. Some outright called WLFI a “scammer.” This response was also common across X in response to WLFIs announcement. Indeed, some users implied that the vote wasnt democratic and that it was already predetermined. One user mocked the project for suggesting it was “community governance.” As crypto trader White Whale said, “Proposal: agree with our absurd plan or lose your tokens forever.” Users mocked the vote for coercing mechanics. One of WLFIs biggest former supporters, Tron CEO Justin Sun, is now suing the firm over its blacklisting of his