Trump-backed World Liberty Financial passes buyback and burn proposal to boost WLFI

Trump-backed crypto project World Liberty Financial passed a governance proposal to reduce the supply by buybacks and burns with the aim of creating and boosting the value of its native crypto token (WLFI) following its underwhelming price performance since its ￰0￱ vote passed with a 99.8% majority, while only 0.06% of the community voted against the ￰1￱ to data from World Liberty Financial, it will serve as the foundation of the platform’s token buyback ￰2￱ strategy seeks to use 100% of the project’s treasury’s liquidity fees for WLFI token ￰3￱ tokens are then sent to a burn address, permanently reducing ￰4￱ also seeks to create more value for long-term WLFI tokenholders, while exploring additional protocol revenue sources for token ￰5￱ governance proposal says, “This program removes tokens from circulation held by participants not committed to WLFI’s long-term growth and direction, effectively increasing relative weight for committed long-term holders.” WLFI will get liquidity positions on major chains After the proposal, WLFI will get its liquidity positions on Ethereum, BNB Chain, and ￰6￱ positions will be used to buy back WLFI tokens on the open ￰7￱ bought are sent to a “burn” address so they can never be used again.

However, the plan still doesn’t include estimates on the fees generated by the platform, which makes it hard to estimate how the buybacks might affect the market. A governance vote was held almost three weeks after the official launch of the WLFI token on September ￰8￱ price dropped 40% in the first three days of its launch, costing whales millions of ￰9￱ instance, influencer Andrew Tate realized a $67,000 loss on his WLFI long position on decentralized exchange ￰10￱ the WLFI platform burned 47 million tokens on September 3, that didn’t stop the token’s post-launch ￰11￱ to on-chain data, the WLFI token is down over 28% since ￰12￱ price chart.