World Liberty Financial (WLFI), the crypto project linked to President Donald Trump, has permanently removed 47 million WLFI tokens worth over $11 million from circulation.
In a Sept. 2 post on X, the project explained that the burn represents the first major step in implementing its proposed buyback-and-burn governance strategy, which is designed to strengthen token economics.
According to the statement, the project extracted these tokens directly from its unlocked Treasury reserves and sent them to burn addresses, effectively removing them from the total supply forever.
WLFI explained that this action aims to concentrate tokens among committed long-term holders while reducing overall market circulation.
“We’re building for decades, not days,” WLFI stated in its official announcement, acknowledging that short-term price performance has disappointed some investors.
However, the platform emphasized that early supporters who purchased tokens at $0.015 to $0.05 have already witnessed market recognition of the governance token’s value proposition.
Security measures against phishing attacks
Alongside the token burn, WLFI has implemented comprehensive security measures by blacklisting multiple wallet addresses suspected of private key compromises.
This action responds to cybersecurity experts’ warnings about hackers exploiting Ethereum’s EIP-7702 standard to target WLFI token claimers.
The mass blacklisting prevented attempted thefts from the project’s Lockbox system, and on-chain records confirmed that compromised addresses were blocked.
The Crypto Investor Blueprint: A 5-Day Course On Bagholding, Insider Front-Runs, and Missing Alpha
WLFI is now assisting affected legitimate holders who need help regaining access to their tokens.
WLFI praises token launch
WLFI and its executives have hailed the token launch as one of the most successful in the crypto industry.
In an X post, Eric Trump, son of the US President, declared the token launch a success by highlighting the dramatic price appreciation from initial offering levels.
He noted that WLFI traded between $0.20 and $0.28 within 24 hours of public launch, representing nearly 20x gains for early investors who purchased at $0.015.
Despite this enthusiasm, WLFI’s market value has declined approximately 50% since Monday’s trading debut. The token is currently trading around $0.22 on major exchanges.
However, the project has defended this performance by saying its price performance is “uncommon.”
According to the team:
Mentioned in this article
Source: https://cryptoslate.com/eric-trump-praises-wlfis-succesful-token-launch-as-project-burns-47-million-tokens/
