Two whale addresses control 56% of WLFI token burn governance proposal

With whales dominating votes, WLFI's token burn move doesn't spark market enthusiasm.

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

World Liberty Financial’s community is throwing near-unanimous support behind a new governance measure aimed at strengthening the value of its native token, WLFI.

The proposal, introduced earlier this month, would direct fees collected from protocol-owned liquidity (POL) to repurchase tokens on the open market and permanently destroy them.

The vote, which opened on Sept. 11, remains active until Sept. 18 but has already attracted overwhelming community approval.

According to governance records, more than 99% of votes, representing roughly 1.5 billion WLFI, have backed the measure. Fewer than 2 million tokens have been cast against it, while about 5.8 million chose to abstain.

Meanwhile, an analysis of the voting pattern showed that only two whale addresses were responsible for over 56% of the “Yes” vote as of press time.

Top 5 Votes For WLFI Burning (Source: WLFI Governance)

This shows that the whale WLFI holders are significantly skewing the governance vote in their favor.

So, it is unsurprising that the market has yet to respond favorably to the move. Data from CryptoSlate shows that WLFI is trading at $0.1992, down more than 35% since it launched at the beginning of this month.

WLFI’s burn strategy

The buyback program would apply to POL fees earned on Ethereum, Binance Smart Chain, and Solana liquidity pools, while funds from independent liquidity providers would be excluded.

The project leaders have suggested the scope could expand over time to include other revenue channels. WLFI’s Dylan said:

“This is only the first part of the deflationary mechanism. Burning tokens under a non-inflationary model is an excellent strategy. WLFI not only incorporates multiple deflationary features but also has actual profit-generating components, all of which are sustainable in the long term.”

Moreover, the DeFi project’s supporters also say the move is designed to make WLFI scarcer by shrinking supply, an approach many blockchain projects use to reinforce long-term value.

By consistently removing tokens from circulation, the plan seeks to shift more WLFI into the hands of committed holders rather than short-term speculators.

To set the stage for the program, the team recently destroyed 47 million WLFI tokens worth more than $11 million. These tokens were drawn directly from unlocked Treasury reserves and sent to designated burn addresses, marking the first major step toward the continuous burn model.

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