The price of WLFI tokens dropped nearly 14% on Wednesday amid a contentious governance proposal that has received overwhelming support from the community. The proposal, which aims to release over 62 billion WLFI tokens over a period of four to five years, was officially put to a vote on April 30, with voting scheduled to conclude on May 7.
Introduced to the World Liberty governance community on April 15, the plan includes locking tokens held by early investors for two years before a gradual release over the following years. Despite a reported 99.95% approval rate, criticisms have emerged, with notable figures expressing concerns about the potential implications of the unlock coinciding with the remainder of Donald Trump's presidential term.
The governance structure has been labeled one of the most significant in the history of World Liberty Financial. However, the community's response has been largely negative, particularly on social media, where many have voiced their disapproval of the proposal.