World Liberty Monetary was marketed as a “governance token” that might make the platform “community-governed.”
Unusually, even if there are over 80,000 wallets holding the token, only a few of those holders have needed to take part within the governance course of.
Certainly, there’s not been a single submit within the governance discussion board for the challenge since January 9, properly over a month in the past. This is similar governance discussion board the place the World Liberty workforce itself appears to be utilizing AI to generate posts filled with falsehoods.
Learn extra: Who’s behind World Liberty Monetary, Trump’s new crypto?
For comparability, AAVE sees a number of posts daily, as do Sky, Uniswap, Lido, and Compound.
Early in December, World Liberty Monetary had its first governance proposal by which roughly 1,700 wallets participated. This proposal described its intention to launch an AAVE lending market and simply handed.
This occasion has but to launch.
Nevertheless, the challenge has continued to maneuver ahead, saying its intention to create some kind of cryptocurrency reserve described as “the Macro Strategy.” This technique was introduced with out dialogue within the governance discussion board and with out the approval of governance token holders.
Curiously, Blockworks has reported that World Liberty shopped round a deal to cryptocurrency groups the place if you happen to bought its token, it might buy your token.
World Liberty claims this wasn’t true. Regardless of World Liberty’s claims, it has made investments in tasks linked to its investor Justin Solar, together with ones which have lately restricted its disclosures.
Learn extra: World Liberty Monetary affords quid professional quo for funding, report
Nevertheless, regardless of the dearth of progress towards its said objectives, the challenge has nonetheless been profitable by different measures. For instance, it has practically reached its new fundraising purpose on the time of writing and has raised over $1 billion.
Essentially that is the true function of this challenge; it’s a approach to enrich the president who declares himself king.
Protos reached out to the World Liberty Monetary X account to find out when it intends to launch its AAVE occasion, however it didn’t instantly reply.
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