World Liberty Financial (WLFI), the President Donald Trump-affiliated decentralized finance project, has burned 7.89 million WLFI tokens, worth approximately $1.43 million, following a $1.06 million buyback across different chains.
Onchain data gathered by Lookonchain shows the project collected 4.91 million WLFI ($1.01 million) and $1.06 million in fees and liquidity earnings from its DeFi activities, and spent $1.06 million to repurchase 6.04 million WLFI on the open market.
The team later burned 7.89 million WLFI on BNB Smart Chain (BNB) and Ethereum (ETH), while 3.06 million WLFI ($638,000) remains unburned on Solana (SOL) pending further actions.
The move follows a 33% drop in WLFI’s price over the past month. As of Saturday, WLFI is trading at $0.2049, up by more than 6% over the past day, according to CoinGecko. The token is still down more than 38% from its all-time high.
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The token-burning strategy stems from a governance vote passed earlier this month, in which 99% of WLFI holders approved the proposal. Under the plan, fees generated from WLFI-managed liquidity pools are to be used for token repurchases, which are then permanently removed from circulation via burns.
According to the WLFI team, this mechanism aims to reduce total supply and alleviate selling pressure. The project clarified that only fees from WLFI-controlled liquidity are included in this process. Community and third-party liquidity pools are excluded.
Some onchain sleuths have speculated the program could burn 4 million WLFI daily, nearly 2% of supply annually. However, exact burn figures remain unclear.
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As Cointelegraph reported, an entity linked to former US President Donald Trump and his family controls approximately $5 billion worth of WLFI following a scheduled unlock of 24.6 billion tokens earlier this month.
The firm’s website lists DT Marks DEFI LLC and Trump family members, including Donald Jr., Barron, and Eric, as initial holders of 22.5 billion WLFI, with the price briefly spiking to $0.40 before retreating to around $0.21.
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