WLFI Governance Debate: Early Holders and Foundation Control Voting Outcomes Again

A governance vote on World Liberty Financial (WLFI) has drawn scrutiny as a small group of large holders appears to dominate the outcome. The proposal changes unlock schedules for about 62 billion locked WLFI tokens and has passed quorum with near-unanimous support.

Titled Early Supporter and Founder Team Partner Token Unlock, the vote introduces revised vesting timelines for early supporters and core allocations. It also applies a 10% burn to team-related tokens.

Top Five Wallets Control About 46% of Voting Power

Snapshot data shows that the top five wallets control about 46% of the voting power recorded so far. All five voted YES, raising fresh concerns about concentrated influence in governance decisions.

The largest wallet, moonmanifest.eth, leads with about 800.5 million WLFI, representing roughly 12.5% of the total votes. On-chain records show repeated transfers and claim vest transactions tied to the official WLFI contract, indicating early sale participation.

Blockchain analytics platform Arkham linked the address to a pseudonymous trader known as Techno Revenant. However, there is no verified public evidence connecting the wallet to the project team or internal stakeholders.

The second largest voter, identified as 0x64Af, holds 666.7 million WLFI and has also backed the proposal. Similarly, no credible links connect this address to insiders or foundation-controlled entities.

Two other major voters, 0x6022 and 0x7F51, show similar transaction patterns tied to early sale participation. Their activity suggests they are large public buyers who also followed the standard vesting structure.

Notably, one wallet stands out with a confirmed internal link, as address 0x2887 holds 500 million WLFI tied to foundation reserves. Data from Coinranking indicates the tokens originated from a project multi-signature wallet allocated for foundation use.

Concerns Over Governance Centralization and Voting Process

The concentration of voting power among a few large holders has renewed debate about governance structure and decentralization. Previous WLFI votes have shown similar patterns, and the project has yet to release a verified list of team or foundation-controlled wallets.

Reflecting these concerns, a user on X criticized the process. He noted that the team had already decided the outcome after the proposal quickly reached quorum within minutes.

“Don’t bother voting guys, the team has already decided the vote and achieved 148% Quorum in 15 mins,” he tweeted.

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