There is some disagreement in the community about what % of which coins becomes transferable with the Tradability Vote. This confusion arises from the team’s interchangeable use of “Initial Supporters” and “Early Supporters”.
There are 4 groups:
-
35% Token Sale - includes 25% of tokens sold during the pre-sale;
-
32.5% Community Growth;
-
30% Initial Supporters Allocation;
-
2.4% Team and Advisors;
The “Initial Supporters” are defined in the Gold Paper:
DT Marks DEFI LLC, Axiom Management Group, LLC WC Digital Fi LLC
Their tokens are not yet distributed. There is a multisig wallet which holds 40% of $WLFI tokens.
The proposal is VERY CLEAR:
The vote is to:
- make the already distributed tokens (token sale allocation, including pre-sale 1, 2 and OTC purchases) transferable;
AND IN ADDITION TO THAT;
-
unlock a percentage of tokens allocated for Early/Initial Supporters (30% allocation) AND distribute their tokens;
-
in a subsequent vote, the community will decide on how the remainder of their tokens will vest.
The total current circulating supply is between 25-27%. A large percentage of this circulating supply is held by just a few entities, namely Justin Sun, Aqua1Fund, and DWF Labs. The circulating supply held by retail is likely much lower, probably in the 12-15% range. It would not make any sense to further limit the transferability of this circulating supply while at the same time unlocking a significant % of early supporters supply because that would mean a few entities would hold plurality of the total circulating supply, versus over 85,000 retail investors holding a smaller percentage of the circulating supply.
In short, the only correct interpretation of the proposal is as follows:
- the proposal will make 100% of pre-sale tokens transferable;
AND IN ADDITION TO THAT
-
a % of tokens reserved for Early/Initial Supporters will be unlocked and distributed, AND
-
the community will decide in a second vote how the remainder of their tokens will vest.
This would ultimately result in a circulating supply between 27-40%, which is healthy!