The proposal, introduced earlier this month, would direct fees collected from protocol-owned liquidity (POL) to repurchase tokens on the open market and permanently destroy them.
The vote, which opened on Sept. 11, remains active until Sept. 18 but has already attracted overwhelming community approval.
Meanwhile, an analysis of the voting pattern showed that only two whale addresses were responsible for over 56% of the “Yes” vote as of press time.
This shows that the whale WLFI holders are significantly skewing the governance vote in their favor.
“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.
