World Liberty Monetary was marketed as a “governance token” that will make the platform “community-governed.”
Unusually, even supposing there are over 80,000 wallets holding the token, only a few of those holders have wished to take part within the governance course of.
Certainly, there’s not been a single publish within the governance discussion board for the mission since January 9, effectively over a month in the past. This is similar governance discussion board the place the World Liberty crew itself appears to be utilizing AI to generate posts filled with falsehoods.
For comparability, AAVE sees a number of posts on daily basis, as do Sky, Uniswap, Lido, and Compound.
Early in December, World Liberty Monetary had its first governance proposal wherein 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 mission has continued to maneuver ahead, saying its intention to create some sort 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 in case you bought its token, it could buy your token.
World Liberty claims this wasn’t true. Regardless of World Liberty’s claims, it has made investments in initiatives linked to its investor Justin Solar, together with ones which have lately restricted its disclosures.
Nevertheless, regardless of the dearth of progress towards its acknowledged targets, the mission has nonetheless been profitable by different measures. For instance, it has almost reached its new fundraising purpose on the time of writing and has raised over $1 billion.
Essentially that is the true function of this mission; it’s a technique 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, but it surely didn’t instantly reply.