World Liberty Financial Launches Governance Vote to Enable Staking for WLFI Holders

• World Liberty Financial has put up its proposal to enable staking for WLFI holders to a vote that runs for the next seven days.
• The proposal has received 99.2% backing, with 903 million tokens supporting it, while 5.8 million voted against it.

World Liberty Financial recently introduced a proposal seeking to enable staking for WLFI holders to incentivize participation in governance. It has now put the proposal up for a vote, and it’s receiving overwhelming support.

The proposal has been open to the vote for less than a day, and it has already amassed 903 million tokens in support, representing 99% backing at press time. Just below six million tokens have voted against the proposal (0.64%), while 2.8 million tokens were cast by holders who chose to abstain from the vote.

World Liberty Finance has urged the WLFI community to participate in the ballot and make their voices heard.

While the vote has gained massive support, community members remain divided over the proposal and who stands to benefit the most. Some say that since WLFI tokens are being used to reward USD1-related activities, the best proposal would have been to use the transaction fees and interest from the stablecoin to burn WLFI tokens.

USD1 has become one of the largest stablecoins. It now has a $4.6 billion market cap, and in the past day, it processed $1.477 billion in transaction value.

Others questioned World Liberty’s model, which has locked 80% of the tokens it sold to investors in its initial public sale. The company holds billions of WLFI tokens and has not been transparent about its plan to release or sell them.

World Liberty Founder Calls Banks ‘Anti-American’

While the technical team focuses on the governance upgrade, World Liberty co-founder Eric Trump has continued the project’s leadership’s ongoing attack on traditional finance.

Eric, the third of President Donald Trump’s children, took aim at big banks, specifically mentioning JPMorgan, Bank of America, and Wells Fargo, for reportedly “lobbying overtime to block Americans from getting higher yields on their savings.”

These banks pay “rock-bottom” rates on savings but continue to receive up to 4% from the Federal Reserve, he went on. This allows banks to post record profits, but none of the perks ever stream down to the customers.

This is why these banks have fought against crypto projects going mainstream, Eric believes. He pointed to increased lobbying in recent days by banking associations such as the ABA, which have pushed anti-crypto regulations, including the CLARITY Act.

He added:

Eric’s attack on the CLARITY Act is peculiar, given that the Trump government has been pushing for the Act’s passage. Just days ago, President Trump called for the swift approval of the Act. However, Eric’s attack aligns with many in the crypto community who have lobbied against the proposed bill, led by Cardano founder Charles Hoskinson, as we have reported.