- World Liberty Financial will begin a token buyback and burn program this week after WLFI tokens dropped 41% in value in September.
- The initiative was approved by a community vote with 99% support from token holders.
- Fees collected from WLFI’s liquidity pools on Ethereum, BNB Chain, and Solana will fund the buyback and burn plan.
- The buyback and burn process aims to decrease token supply in circulation, but the actual number of tokens to be removed remains unclear.
- The mechanism does not affect community or third-party liquidity pools, only those controlled by WLFI.
World Liberty Financial, a decentralized finance (DeFi) project supported by members of the Trump family, will start a token buyback and burn program this week. The decision comes after its WLFI token lost 41% of its value in September.
The WLFI team reported on Friday that it will carry out the buyback and burn strategy in the coming days. Updates about each buyback and burn will be publicly shared, the project said. Token buybacks involve the project purchasing its own tokens, while burning sends tokens to an unusable address, reducing those available in the market.
According to CoinGecko, WLFI traded at $0.19 on Friday, which is down from its all-time high of $0.33 on September 1. The new buyback and burn plan was passed through a community vote, with 99% of participants giving approval.
The team explained that fees collected from WLFI’s liquidity positions on Ethereum, BNB Chain, and Solana will fund the initiative. The tokens bought back will be sent to a burn address and permanently removed. The project stated, “Every trade will remove WLFI from circulation,” highlighting the potential for increased token scarcity and possible price stability. The plan only includes fees from WLFI-controlled liquidity, and not fees from community or third-party pools.
Some community members speculated—in a social media post—that the mechanism could burn about 4 million tokens a day. This would eliminate nearly 2% of the total supply in a year, but the exact amount to be bought back and burned was not specified by the team.
World Liberty Financial has not commented on the precise number of tokens that will be burned. The project’s team plans to keep participants informed as the initiative goes forward.
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