WLFI initiates multi-signature for burning 47 million tokens, with 2 out of 3 signatures completed so far

BlockBeats News, on September 3, the Trump family crypto project World Liberty Financial is in the process of signing a pending multi-signature burn agreement for 47 million WLFI tokens, with a total value of approximately $10.8 million. Currently, 2 out of 3 signatures have been completed.

BlockBeats Note: The initiation of this burn is confirmed, but the transaction still needs to be recorded on-chain. As of now, there has been no official announcement regarding the burn. BlockBeats will continue to track the progress of the burn.

Previously, in the morning of September 2, the WLFI team announced that a new governance proposal had been launched, proposing that all fees generated from the protocol-owned liquidity (POL) of WLFI be used to buy back WLFI on the open market and permanently burn them. Fees from the community or third-party LPs will not be affected.