The governance token of World Liberty Financial (WLFI), a decentralized finance (DeFi) protocol backed by U.S. President Donald Trump and his family, may soon become tradable on exchanges after a community vote concluded on Wednesday.
Token holders voted 99% in favor of the proposal to allow WLFI tokens to trade on secondary markets and transfer peer-to-peer, as confirmed by a Snapshot vote.
This decision follows the protocol’s impressive fundraising efforts, having raised approximately $590 million last year in a pre-sale where investors were able to purchase WLFI tokens. Notably, Tron founder Justin Sun was among the significant investors, having acquired $30 million worth of the asset. World Liberty Financial is actively developing a DeFi lending and borrowing platform, alongside issuing a U.S. dollar stablecoin named USD1.
The WLFI token was initially created to empower holders with governance rights within the protocol, allowing them to participate in decision-making processes. However, the tokens sold to early supporters have been locked since their acquisition, prohibiting any buying, selling, or transferring until now.
The recently approved proposal outlines a phased token unlock plan. At trading launch, a portion of the tokens sold during the presale will become available, while the remainder will be subjected to a subsequent community vote to establish their release timeline. Tokens held by founders, the team, and advisors will remain locked for a more extended period than those of early supporters, reinforcing a long-term commitment to the project, as stated in the proposal.
The final details regarding unlock timing and eligibility criteria will be determined in the future, ensuring a structured and transparent approach to the trading launch.
Read more: World Liberty Makes Narrative U-Turn, Says WLFI Token Will Become Tradable Soon
