World Liberty Financial: Governance Token and Community Engagement

World Liberty Financial was marketed as a “governance token” intended to create a “community-governed” platform.

Low Participation in Governance

Strangely, despite over 80,000 wallets holding the token, very few holders have engaged in the governance process. There hasn’t been a single post in the governance forum since January 9, over a month ago. The World Liberty team appears to be using AI to populate the forum with posts containing misinformation.

Read more: Who is behind World Liberty Financial, Trump’s new crypto?

In comparison, various other platforms like AAVE, Sky, Uniswap, Lido, and Compound have active discussions daily.

First Governance Proposal

In December, World Liberty Financial introduced its first governance proposal, which attracted participation from approximately 1,700 wallets. This proposal aimed to establish an AAVE lending market and successfully passed, but it has yet to be implemented.

The project has also announced intentions to create a cryptocurrency reserve labeled as “the Macro Strategy,” but this was done without discussion in the governance forum or the approval of governance token holders.

Controversial Deal and Investments

Interestingly, Blockworks reported that World Liberty proposed a deal to cryptocurrency teams whereby purchasing its token would guarantee them reciprocal token purchases. World Liberty has denied these claims, although it has invested in projects linked to investor Justin Sun, which have recently limited disclosures.

Read more: World Liberty Financial offers quid pro quo for investment, report

Despite lacking progress on original goals, the project has been successful in other aspects, nearly achieving a new fundraising target with over $1 billion raised. Ultimately, it appears to serve as a vehicle to enrich the president who declares himself king.

Protos reached out to the World Liberty Financial X account regarding the launch of its AAVE instance, but there was no immediate response.