Trump-linked crypto project WLFI burns $11M in tokens
World Liberty Monetary (WLFI), the crypto venture linked to President Donald Trump, has completely eliminated 47 million WLFI tokens value over $11 million from circulation.
In a Sept. 2 post on X, the venture defined that the burn represents the primary main step in implementing its proposed buyback-and-burn governance technique, which is designed to strengthen token economics.
Based on the assertion, the venture extracted these tokens straight from its unlocked Treasury reserves and despatched them to burn addresses, successfully eradicating them from the overall provide eternally.
WLFI defined that this motion goals to pay attention tokens amongst dedicated long-term holders whereas decreasing total market circulation.
“We’re constructing for many years, not days,” WLFI said in its official announcement, acknowledging that short-term worth efficiency has upset some traders.
Nonetheless, the platform emphasised that early supporters who bought tokens at $0.015 to $0.05 have already witnessed market recognition of the governance token’s worth proposition.
Safety measures towards phishing assaults
Alongside the token burn, WLFI has applied complete safety measures by blacklisting a number of pockets addresses suspected of personal key compromises.
This motion responds to cybersecurity specialists’ warnings about hackers exploiting Ethereum’s EIP-7702 customary to focus on WLFI token claimers.
The mass blacklisting prevented tried thefts from the venture’s Lockbox system, and on-chain data confirmed that compromised addresses had been blocked.
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WLFI is now aiding affected reliable holders who need assistance regaining entry to their tokens.
WLFI praises token launch
WLFI and its executives have hailed the token launch as one of the profitable within the crypto business.
In an X post, Eric Trump, son of the US President, declared the token launch successful by highlighting the dramatic worth appreciation from preliminary providing ranges.
He famous that WLFI traded between $0.20 and $0.28 inside 24 hours of public launch, representing almost 20x positive aspects for early traders who bought at $0.015.
Regardless of this enthusiasm, WLFI’s market worth has declined roughly 50% since Monday’s buying and selling debut. The token is at present buying and selling round $0.22 on main exchanges.
Nonetheless, the venture has defended this efficiency by saying its worth efficiency is “unusual.”
Based on the group:
“WLFI was initially listed at $0.20. After absorbing early sellers and ~$6B in perp quantity on Binance alone, WLFI nonetheless trades above listing—very unusual for day-1 launches.”
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