Whale Alert: Two Addresses Dominate 56% of WLFI Token Burn Governance—Decentralization in Question

Crypto's favorite buzzword takes a hit as two whale wallets flex unchecked power over WLFI's token burn proposal.

Who needs decentralization when you've got a duopoly?

The numbers don't lie: 56% of voting power concentrated in two addresses. So much for 'community-driven' governance.

Another day, another crypto project where the little guys get steamrolled by early whales. At least the token burn might offset some of those carbon emissions from all the hot air about decentralization.

This shows that the whale WLFI holders are significantly skewing the governance vote in their favor.

So, it is unsurprising that the market has yet to respond favorably to the move. Data from CryptoSlate shows that WLFI is trading at $0.1992, down more than 35% since it launched at the beginning of this month.

WLFI’s burn strategy

The buyback program would apply to POL fees earned on Ethereum, Binance Smart Chain, and solana liquidity pools, while funds from independent liquidity providers would be excluded.

The project leaders have suggested the scope could expand over time to include other revenue channels. WLFI’s Dylan said:

“This is only the first part of the deflationary mechanism. Burning tokens under a non-inflationary model is an excellent strategy. WLFI not only incorporates multiple deflationary features but also has actual profit-generating components, all of which are sustainable in the long term.”

Moreover, the DeFi project’s supporters also say the MOVE is designed to make WLFI scarcer by shrinking supply, an approach many blockchain projects use to reinforce long-term value.

By consistently removing tokens from circulation, the plan seeks to shift more WLFI into the hands of committed holders rather than short-term speculators.

To set the stage for the program, the team recently destroyed 47 million WLFI tokens worth more than $11 million. These tokens were drawn directly from unlocked Treasury reserves and sent to designated burn addresses, marking the first major step toward the continuous burn model.