Unlock Agreement prohibits selling?!

General
1

HI guys, am I reading the unlock agreement correctly? It basically boils down to you can transfer them but legally cant sell them. What is the point? Can someone clarify?

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I suspect there is a misunderstanding. It does state that, as a prerequisite for being eligible for the unlocking process, you agree that you purchased the tokens knowing they were for governance only, not for resale, trade, etc. Basically that you were in the same boat as all of us, you didn’t have any “inside information” that they would ultimately become trade-able. But they have been quite clear that once your tokens are unlocked you are free to sell or hold as you see fit. If there is other specific text in the agreement you are referring to, can you quote the text?

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Section 2 – Use of Tokens → says WLFI tokens are non‑transferable and not for resale, speculation, or investment.

I put the whole agreement in chatgpt and asked for a TLDR.
ChatGPT:
:white_check_mark: Bottom Line

  • Technically: You might move tokens on-chain if there’s no technical restriction (depends on smart contract design).

  • Legally & contractually: You cannot sell or transfer them without breaking the Unlock Agreement and losing rights.

Which is scary. Like they know who we are, and they could blacklist our coins, rendering them useless right?

ChatGPT:
:light_bulb:So what happens if you do sell anyway?

  • From a pure blockchain perspective, it might be technically possible (once “unlocked” tokens sit in your wallet, you could try to send them to another wallet or OTC).

  • But:

    • That breaches the Unlock Agreement, so WLFI could revoke governance rights, freeze addresses, or refuse to honor your tokens in governance.

    • If WLFI is monitoring wallets (they reserve that right in Section 6 – Screening Acknowledgement), they could block or blacklist any wallet that violates the no‑transfer rules.

    • You’d also open yourself up to legal risk, since you signed a binding contract saying you wouldn’t treat them as transferable securities.

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ChatGPT is not infallible. My interpretation of that section remains as I described above. Have you read it for yourself?

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Legally they are not tradable, and those who purchase the token acknowledge and understand they hold no legal obligation to make the token tradable. You waived your right to contest that by virtue of purchasing the token.

But that does not preclude them being made tradable via a governance proposal that is voted on by retail token holders - but note that it includes the $WLFI team, partners, advisors, other possible insiders.

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It tells you on the unlock page.

  1. Connect wallet - Connect your wallet to see the unlocking schedules you have qualified for.
  2. Sign agreement - Sign the unlock agreement to confirm your participation in the unlocking.
  3. Claim tokens - Starting September 1, you can begin claiming your unlocked tokens.
  4. Trade (soon) - Once you’ve claimed your tokens, you’re free to trade your $WLFI or keep holding, the choice is yours.
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I know it says that, and then they proceed to make you sign something that says something else

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