World Freedom moves to WWFI opening vote after complaint.
Decentralized finance (DeFi) platform World Freedom Finance announced Friday that it plans to submit a regulatory proposal next week that would set up a phased opening program for WWFI tokens held by retail buyers.
Daffy's forum, which is connected to the Trump family, said the proposal will be open for community input before moving on to a formal vote. According to the project, the vote does not cover a full, immediate launch, but rather a structured long-term vesting plan designed to release the token in phases.
WLFI tokens are mostly locked to first-time buyers, with transferability tied to administratively approved unlocks. According to Tokenomist data, 24.67% of WWFI's 100 billion token supply has been released, while 75.33% are locked or awaiting future decisions.
The proposal may determine when early buyers can finally access liquidity in WWFI, whose use is largely limited to management. It comes as some owners are publicly pushing back against the long locks and threatening legal action.
The concerns add to previous management decisions around token restrictions. On March 16, WLFI token holders approved a proposal to introduce a six-month lock-in rule for some transfers, marking one of the first formal changes to the project's transfer process.
Retail buyers object to long-term WSFI lockouts
World Freedom's pre-sale materials stated that WWFI tokens are non-transferable and may remain locked up indefinitely, with any future unlocking being subject to a management vote no later than 12 months after the token sale and with no guaranteed time frame.
That 12-month deadline has passed, with WMFI's public sale starting around mid-October 2024, putting the current proposal within 18 months of the initial sale. The company has raised at least $550 million from WWFI token sales in two funding rounds.
Some self-aware buyers of the WLFI presale have publicly complained that most of their holdings are locked up as parts of the broader token offering are transferable.
At least one self-proclaimed buyer said they had filed legal notices and were pursuing claims in the United States and the Netherlands against World Liberty Financial and its backers. Cointelegraph has not been able to independently confirm any allegations.
Cointelegraph reached out to World Liberty Financial for comment, but did not receive a response by press time.
Related: FLFI proposes management staging system and USD1 usage incentives
Onchain lending activity adds to the owner's concerns
A community member told XPost that the project's borrowing activity raised concerns among token holders, questioning how the treasury funds would be used. According to Onchain data, World Freedom Financial Treasury has borrowed approximately $75 million from Dolomite using WLFFI as collateral.
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