According to reports, World Liberty Financial (WLFI), a crypto project supported by former U.S. President Trump's family, has passed a governance proposal requiring token holders to lock their tokens for nearly six months in order to participate in governance voting.
The project team stated that this move aims to ensure that only participants with a "long-term commitment" to the protocol can influence governance decisions.
The proposal notes, "By rewarding WLFI holders who demonstrate the greatest commitment to WLFI governance and ecosystem, we provide them with more opportunities to participate in the future development of the WLFI ecosystem and potential business collaborations."
To incentivize participation, the proposal introduces a base reward mechanism: token holders who participate in at least two governance votes during the lock-up period will receive an annualized yield of approximately 2%. Additionally, holders whose tokens are already locked do not need to stake further to continue voting.
Furthermore, the proposal document elaborates on the "super node" tier, requiring participants to stake approximately $5 million worth of 50 million WLFI tokens. Participants who successfully reach this tier will gain a "guaranteed direct communication channel" to engage with the WLFI team for in-depth discussions on collaborations and partnerships.
WLFI Seeks Banking License but Faces Challenges
As part of its long-term plans surrounding the USD1 stablecoin, the platform is actively seeking a national trust bank charter from the Office of the Comptroller of the Currency (OCC). However, the project's financial ties to former President Trump and his family members have raised concerns and scrutiny.