WLFI now constitutes 55% of Dolomite's total $835M supply — borrowing your own USD1 stablecoin against your own governance token on a platform your adviser co-founded isn't DeFi, it's a captive balance sheet with extra steps. Any forced liquidation of that $440M WLFI position would crater the thinly-traded token and stick LPs with unrecoverable bad debt, a reflexivity trap that makes the Alameda/FTT setup look transparent by comparison. Sun pointing at the embedded blacklist function is ironic given his Poloniex playbook, but the freeze capability is onchain and auditable — every WLFI holder should be reading that contract instead of watching these two throw press releases at each other.

Top comment by @Benthic