4 weeks ago
The Trump family’s World Liberty Financial (WLFI) has approved a assemblage connection to airdrop its USD1 stablecoin to eligible token holders, according to a May 15 statement.
The governance vote, which ran from May 6 to May 13, received near-unanimous support, with 99.96% of participants backing the initiative. In total, astir 7 cardinal tokens were committed to the proposal.
Following the approval, WLFI’s squad announced it is preparing the rollout and volition soon stock the last airdrop details.
While the ballot clears a important hurdle, the task reserves the close to proceed with oregon cancel the airdrop based connected operational readiness.
Whales predominate WLFI’s governance voting
Notably, governance information reveals that voting powerfulness for the connection was highly concentrated among whales.
According to the data, conscionable 5 addresses accounted for implicit 40% of the full votes. One code unsocial controlled 1 cardinal WLFI tokens, representing 14.75% of the voting weight. Another held 666.7 cardinal tokens, contributing 9.8%, portion 2 others had 500 cardinal each, representing 7.37% apiece.
World Liberty Financial Top 5 DAO Voters (Source: WLFI DAO)This precocious attraction level raises concerns astir the decentralization and decision-making process successful the project’s decentralized autonomous organizations (DAOs).
WLFI and USD1 scrutiny continues
The airdrop announcement comes astatine a delicate clip for WLFI and USD1, which person been criticized for their political connections and capitalist profile.
US lawmakers person consistently questioned the project’s ties to US President Donald Trump and flagged imaginable ethical concerns related to the project.
A caller letter to Treasury Secretary Scott Bessent, signed by respective Democratic lawmakers, flagged WLFI’s determination to reserve 90% of its token merchantability for overseas investors.
The lawmakers pointed retired that the task had received a $75 cardinal investment from arguable crypto entrepreneur Justin Sun, who had been nether the SEC probe until recently. They noted that:
“The SEC [has] asked the tribunal to intermission its enforcement enactment against Mr. Sun, raising troubling questions astir whether the Trump Administration’s evident abandonment of its gravely superior charges against Mr. Sun constituted an amerciable quid pro quo successful speech for his largesse directed astatine this Trump household venture.”
Considering this, the missive warned that the determination could exposure the US fiscal strategy to risks, particularly fixed allegations that immoderate investors mightiness person ties to transgression enactment oregon ongoing investigations.
However, successful effect to the accusations, Zach Witkoff, 1 of the project’s co-founders, argues that the satellite needs solutions similar WLFI and USD1. He wrote:
“America — and the remainder of the satellite — needs solutions similar USD1. We volition not beryllium intimidated by politicians with an axe to grind.”
The station Over 40% WLFI’s USD1 airdrop support ballot concentrated to 5 wallet addresses appeared archetypal connected CryptoSlate.
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