en.bitcoinsistemi.com
US President Donald Trump and his family's cryptocurrency project, World Liberty Financial ($WLFI), opened for spot trading yesterday.
However, although the $WLFI token rose to $0.47 on Binance when it was first opened for trading, this did not last long and fell to $0.33.
The decline continued as early investors who bought $WLFI moved millions of dollars worth of $WLFI tokens onto exchanges.
$WLFI fell to $0.23 due to sales, while trading volume rose from approximately $259 million at launch to $2.5 billion.
As the $WLFI price experienced large fluctuations on its first day, the $WLFI team submitted a proposal suggesting using all liquidity fees for buybacks and burns.
Accordingly, the $WLFI team has submitted a proposal that 100% of all fees generated from the protocol's liquidity will be used to buy back and permanently burn $WLFI tokens.
“This program effectively increases the relative weight of participants who demonstrate long-term commitment by removing from circulation tokens held by participants who are not committed to the long-term growth and direction of the $WLFI,” the proposal stated.
The proposal envisions fees collected from $WLFI's liquidity positions on Ethereum (ETH), Solana (SOL), and Binance Smart Chain being used to buy back $WLFI tokens on the open market. These tokens will then be sent to a burn address and removed from circulation.
The team also added that all burns will be recorded on-chain and reported to the community for transparency.
It was noted that the proposal only applies to fees generated by liquidity controlled by the $WLFI and does not include fees from community or third-party LPs.
https://x.com/worldlibertyfi/status/1962648359681839381
*This is not investment advice.