🔥 YOUR KEYS, YOUR MONEY… UNTIL THE CONTRACT SAYS OTHERWISE?
Sun Yuchen believes that the lawsuit involving World Liberty Financial (WLFI) is not only a dispute over $45M and 4B tokens, but also one that touches a core blockchain principle: “your keys, your money.”
According to Sun, the issue is that a contract may allow user assets to be frozen without disclosing the mechanism, without governance, and without a clear process.
He argues that if the issuer can arbitrarily reclaim assets after the tokens are unlocked, then the concept of “self-custody” loses much of its meaning.
I think this is the most debatable part: tokens in your wallet don’t necessarily mean you have full control over them if the smart contract still retains control.
Your wallet.
Your tokens.
But whose rules? 👀
Fellas, in what situations should the issuer be allowed to freeze tokens?
$WLFI
#defi #SelfCustody
Sun Yuchen believes that the lawsuit involving World Liberty Financial (WLFI) is not only a dispute over $45M and 4B tokens, but also one that touches a core blockchain principle: “your keys, your money.”
According to Sun, the issue is that a contract may allow user assets to be frozen without disclosing the mechanism, without governance, and without a clear process.
He argues that if the issuer can arbitrarily reclaim assets after the tokens are unlocked, then the concept of “self-custody” loses much of its meaning.
I think this is the most debatable part: tokens in your wallet don’t necessarily mean you have full control over them if the smart contract still retains control.
Your wallet.
Your tokens.
But whose rules? 👀
Fellas, in what situations should the issuer be allowed to freeze tokens?
$WLFI
#defi #SelfCustody