The Community of World Liberty Financial throws almost unanimous support behind a new management measure aimed at strengthening the value of his native token, WLFI.
The proposal, which was introduced earlier this month, would send the fees collected from the liquidity of Protocol (Pol) to buy back tokens on the open market and to permanently destroy them.
The vote, which was opened on 11 September, will remain active until September 18, but has already attracted an overwhelming approval of the community.
According to governance recordsMore than 99% of the votes, which represent around 1.5 billion WLFI, have supported the measure. Less than 2 million tokens have been thrown against, while around 5.8 million chose to abstain.
In the meantime, an analysis of the polls showed that only two whale addresses were responsible for more than 56% of the ‘yes’ mood from the moment of the press.
This shows that the WLFI holders of the Whale de Governance mood to their advantage significantly cracking racks.
It is therefore not surprising that the market should not yet respond favorably to the move. Data of CryptoSlate Show that WLFI acts at $ 0.1992, more than 35% decrease since the beginning this month was launched.
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WLFI’s burn strategy
The repurchase program would apply to POL -costs earned on Ethereum, Binance Smart Chain and Solana Liquidity pools, while funds of independent liquidity providers would be excluded.
The project leaders have suggested that the scope could expand over time to include other income channels. WLFIs Dylan said:
“This is only the first part of the deflatoir mechanism. Burning tokens under a non-inflationing model is an excellent strategy. WLFI not only contains several deflatoares, but also has actual profit-generating components, all of which are sustainable in the long term.”
In addition, the supporters of the Defi project also say that the move is designed to make WLFI scarcer by shrinking the offer, an approach that many blockchain projects use to strengthen the long-term value.
By consistently removing tokens from the blood circulation, the plan tries to move more WLFI in the hands of dedicated holders instead of speculators in the short term.
To determine 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 according to designated fire addresses, so that the first major step to the continuous combustion model was marked.