World Liberty Financial, backed by Trump, announces plans to make its WLFI token exchangeable for trading
World Liberty Financial (WLF) has initiated a governance vote to make its WLFI token tradeable across public markets, a move that has garnered significant support from the community. The vote, which began on July 9 and will conclude on July 16, aims to make the WLFI token more accessible and liquid if approved.
The proposal, which has received overwhelming backing from the community, with over 99% of the roughly five billion tokens cast in favour, could see the WLFI token traded on exchanges if successful. However, it's important to note that tokens held by the founders, team members, and advisors, including those owned by the Trump family, will remain locked and unavailable for immediate trading.
If the vote is successful, the WLFI token would become transferable, enabling broader participation in World Liberty Financial's ecosystem. This would allow WLFI to be traded on decentralized exchanges and integrated into peer-to-peer markets, significantly increasing its liquidity.
Know Your Customer (KYC) checks will also restart for new users if the vote passes, ensuring compliance with regulations. The current supply of USD1, the stablecoin developed by World Liberty Financial, stands at $2.2 billion.
The proposal follows weeks of growing momentum in the WLFI community and is positioned as a move towards greater decentralization. Notably, Alchemy Pay has integrated World Liberty Financial's USD1 stablecoin, demonstrating the growing acceptance of the WLFI ecosystem.
However, it's worth mentioning that this governance vote is not directly related to a $100m investment received by World Liberty Financial from Aqua 1 for RWA expansion.
Despite ongoing concerns from lawmakers, including a bill introduced by Rep. Adam Schiff, WLFI token holders appear ready to move ahead. World Liberty Financial is currently working on its stablecoin USD1, which was recently distributed via airdrop to WLFI holders.
If the vote passes, trading of the WLFI token will begin in phases, with a second vote expected to follow to decide the timing for unlocking other tokens. The integration of monitoring tools from blockchain analytics firm TRM Labs is also planned as part of World Liberty Financial's next phase.
As the governance vote progresses, the future of the WLFI token and its integration into public markets remains uncertain. However, the overwhelming community support suggests a positive outlook for this potential shift in the WLF ecosystem.
The successful governance vote for the WLFI token could enable it to be exchanged on public platforms, such as decentralized exchanges (DEX), if approved. This increased accessibility may lead to an integration of WLFI into peer-to-peer markets, potentially boosting its liquidity. Moreover, the approval of the vote may allow for the token to be used in investing activities within the cryptocurrency finance sector, particularly in relation to Initial Coin Offerings (ICO) or blockchain-based projects.
