WLFI Holders Approve Buyback & Burn As Price Plummets 41%

(MENAFN- Crypto Breaking) In a move aimed at stabilizing its token value amid recent downturns, World Liberty Financial - a DeFi project backed by the Trump family - is set to implement a token buyback and burn program. This strategic step follows a significant 41% decline in WLFI token prices during September, highlighting the project's efforts to support its market value through community-approved mechanisms in the volatile crypto landscape.

• World Liberty Financial plans to initiate a token buyback and burn program to address recent price declines.
• The move was approved by 99% of community votes following a governance proposal.
• The strategy involves using liquidity fee revenues to repurchase WLFI tokens and permanently remove them from circulation.
• The program aims to reduce token supply directly, potentially stabilizing and boosting WLFI's market value.
• The project has not disclosed exact details on the number of tokens to be burned, leading to some speculation about the scale.

WLFI buyback and burn follows governance vote

The decision to implement a token buyback and burning process for its treasury liquidity fees was made after a community vote, which saw overwhelming support with 99% approval from the token holders. According to the project, the liquidity fees generated on platforms such as Ethereum , BNB Chain, and Solana will be utilized to repurchase WLFI tokens on the open market, subsequently sending these tokens to a burn address to be permanently eliminated from circulation.

The WLFI team disclosed in their proposal that this mechanism will directly tighten the supply of tokens, which should help support a more stable price by making WLFI scarcer. They emphasized that every trade involving liquidity from the platform will contribute to reducing circulating supply, aligning with broader efforts to stabilize the token's value amid the recent downturns.

Supporting this initiative, the team highlighted that increased platform activity and growing fees would lead to more tokens being burned. However, they clarified that only liquidity generated from WLFI-controlled pools - and not from third-party or community liquidity pools - will be subject to the burn mechanism.

Unclear on how many tokens will be burned

Some community members speculate that the burn mechanism could eliminate approximately 4 million WLFI tokens daily, which would equate to nearly 2% of the total supply annually. However, the project team has not specified the exact number of tokens to be purchased and burned, leaving some uncertainty about the program's full scope.

Attempts to obtain further details from World Liberty Financial have yet to receive a response by the time of publication.

As crypto markets remain highly volatile, initiatives like buyback and burn strategies are increasingly viewed as tools to support token value and investor confidence in the evolving landscape of blockchain-based finance.

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