WLFI Token Buyback Program: Is a Big Token Surge Ahead?
A governance vote was approved by World Liberty Financial on Thursday with the goal of using all of the project treasury’s liquidity fees for burns and buybacks of World Liberty Financial (WLFI) tokens. This implies that the tokens will no longer be in use. The action is intended to increase the token’s worth following its underwhelming price performance since its debut. WorldLibertyFinancial.com statistics indicate that a 99.8% majority of voters endorsed the vote. The plan, which will serve as the cornerstone of the platform’s token buyback strategy, was opposed by just 0.06% of the community.
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,
the governance proposal
WLFI Token Struggles: Governance Plan Targets Recovery After 40% Drop
The governance plan serves as the project’s continuous buyback strategy‘s foundation. Additionally, WLFI will look into other protocol revenue streams in order to expand the scope of WLFI burns and buybacks.
About three weeks after the WLFI token’s initial introduction on September 1, the governance vote was authorized. This resulted in a 40% price decline in the first three days following the token’s introduction, as Cointelegraph reported on September 4. Whales lost millions of dollars as a result of this. According to CoinMarketCap data, the WLFI coin is currently trading at $0.2303, down more than 28% from its debut.
WLFI Tokens Sent to Burn Address in Multi-Chain Buyback Strategy
In order to repurchase WLFI tokens on the open market, WLFI will gather its liquidity positions on Ethereum, BNB Chain, and Solana following the plan. Tokens that have been purchased are delivered to a burn address so they can be permanently removed from use. It is challenging to predict the possible market impact of the buybacks, though, because the proposal still does not include estimates of the platform’s fee revenue.
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