WMFI offers a vetting plan with conditional burning for 62B Tokens
Decentralized finance (DeFi) platform World Freedom Financial on Wednesday released a management proposal that would place 62.28 billion locked-in WMFI tokens on new multi-year schedules and introduce burnables for founder, team, advisor and partner allocations.
Under the proposal, early backers' locked tokens will face a two-year cliff and a two-year linear skirt. Founder, team, advisor and partner allocations will face a two-year cliff and a three-year linear skirt if those holders enter under the new terms.
The plan also offers a burn of up to 4.52 billion WMFI tokens or 10% of founder, team, advisor and partner allocations. Holders who don't accept the new deal will remain locked out indefinitely.
The move formalizes the phased opening approach previously flagged by the project, offering a structured token release, avoiding a recent supply surge. The Trump-linked platform comes as he faces growing pressure from owners and broader scrutiny of his administration.
WLFI's proposal will be subject to retrospective, administrative review
The proposal follows criticism from previous WWLFI buyers over long lock-ins and liquidity constraints. On April 10, the project said it would introduce the proposal after some owners threatened legal action.
Further investigations were conducted into the forum's governance structure and decision-making process.
On Monday, Tron founder Justin Sun, who previously invested $30 million in WWFI, criticized the platform for transparency issues, saying early board elections were dominated by small wallets and lacked meaningful participation. In response, WMFI threatened to file a lawsuit against Sun.
Related: Trump faces renewed backlash as Trump-linked crypto tokens hit lows
Earlier in the day, Sun urged WLFI to disclose who controls the key wallets tied to its smart contracts, warning that the setup would allow for greater control, including the ability to bind tokens.
The proposal follows recent concerns over WMFI's treasury activity and market performance. On Saturday, WLFI plunged to around $75 million in stablecoins, days after wallets linked to the project used billions of tokens as collateral.
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