World Liberty WLFI Token Buyback Plan Secures Near-Unanimous Approval at 99.8%
World Liberty Financial (WLFI) has announced a series of measures aimed at stabilising the value of its namesake token, which saw a 40% drop in price within the first three days of its September 1 launch. The token buybacks and burns are intended to increase the relative weight for committed long-term holders, and reduce the circulating supply of WLFI tokens.
The team at WLFI is focusing on creating demand for the token through strategic efforts such as buybacks and burns. The approved governance proposal will see WLFI using treasury liquidity fees for these purposes, with the aim of permanently removing tokens from circulation. Purchased WLFI tokens will be sent to a burn address for permanent removal.
The buybacks will occur across Ethereum, BNB Chain, and Solana. The financing of these token purchases and burns is primarily supported by investors who buy the WLFI tokens through the company founded by Eric Trump and Donald Trump Jr., with Donald Trump's family involved in the project. No specific external organizations are named as direct financiers beyond these investor participants.
The long-term goal of WLFI is to support the WLFI token value by reducing its circulating supply. The platform also aims to explore other revenue streams to increase the scale of token buybacks and burns.
The governance proposal, which passed with 99.8% approval from the community, is seen as the foundation for WLFI's token buyback strategy. Despite the burning of 47 million tokens, the WLFI token's price dropped by 40% after its September launch. Investors will closely watch the impact of these measures on WLFI's market performance.
Notable losses have been reported by some investors. Andrew Tate, a former kickboxing champion, realised a $67,000 loss on his WLFI holdings on the decentralised exchange Hyperliquid. Tate's cumulative losses on his account nearly reached $700,000.
World Liberty Financial has also announced plans to increase the scale of token buybacks and burns in the future. The platform's ultimate goal is to establish a strong and stable market for the WLFI token.
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