However, it may not mean that the new vesting transaction was made in anticipation of the legislation. The wallets entered the contract months before the Clarity Act’s latest language emerged, while World Liberty published the mechanism’s terms weeks before the wallets entered the new vesting schedule.
On May 19, the six wallets moved 30 billion $WLFI into the vesting contract. The rules required that 10% of the tokens be destroyed upon entering the new schedule.
The news of the new vesting contract was reported on Sunday by The Washington Sun.
Additionally, the proposal that created the schedule was passed on or around May 6 with 11,537 wallets supporting it. It gave founder-token holders the option to exchange an indefinite lockup for a two-year cliff followed by a three-year vesting period. $WLFI‘s own documentation states that joining was optional. Holders who declined to join stay locked indefinitely.
“The community voted in support of a founder burn. For this to happen, co-founders moved their tokens into a smart contract that would effectuate the burn. The same governance proposal ensures that co-founders have the strictest conditions and the longest vesting schedule of all token holders,” David Wachsman, spokesman for World Liberty Financial, told CoinDesk.
