2 hours ago
World Liberty Financial’s autochthonal token (WLFI) is holding dependable aft the project’s assemblage overwhelmingly approved a program to nonstop each protocol-owned liquidity fees toward a buyback-and-burn mechanism.
WLFI is trading adjacent $0.20, up 0.2% implicit the past 24 hours and 7.8% higher connected the week, according to CoinGecko data. The token has a marketplace capitalization of $5.4 cardinal and regular trading volumes of astir $480 million.
The Trump-affiliated token is down astir 35% since launch.
The proposal, introduced precocious Thursday U.S. time, earmarks 100% of fees generated by WLFI’s liquidity positions connected Ethereum, Binance Smart Chain, and Solana for open-market purchases of WLFI that volition beryllium permanently burned. The program is designed to shrink circulating proviso and reenforce a deflationary narrative.
Voting shows overwhelming consensus: much than 1.3 cardinal votes, oregon 99.48%, are successful favor, with conscionable 0.12% against. Turnout reached 135% of the required quorum. The ballot formally ends September 19.
Supporters of the connection reason that tying burns to trading enactment creates alignment betwixt token usage and semipermanent value.
With the buyback-and-burn program present acceptable to pass, WLFI is trying to displacement capitalist absorption from aboriginal volatility to a semipermanent scarcity model, akin to Ethereum.
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