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Trump-Backed DeFi Project World Liberty Financial to Launch WLFI Token Sale
- World Liberty Financial (WLF) launches its WLFI token sale on October 15, targeting US$300M and a valuation of US$1.5B.
- The sale is open to accredited and qualified investors, with 63% for public sale, 17% for rewards, and 20% for the team.
- WLF aims to promote crypto adoption with several DeFi services and products, starting with a lending platform on Ethereum and Scroll.
World Liberty Financial (WLF), a decentralised finance (DeFi) project backed by Republican candidate Donald Trump and his family, is preparing to launch its WLFI token sale.
The sale is set for Tuesday, October 15. As per the project’s roadmap, it aims to raise US$300M (AU$445M) by selling 20% of the total token supply. The project’s target valuation is not shy at all—US$1.5B.
Related: Commissioner Uyeda Calls SEC Approach a ‘Disaster’ for Whole Crypto Industry
Accredited Investors Only
The WLF project has apparently seen significant interest, as thousands registered during the whitelist period that began on September 30. Or at least that’s what the project said.
WLF plans to allocate 63% of its tokens for public sale, 17% for user rewards, and 20% for team compensation. Accredited investors in the US, qualified investors in the UK, and international investors are eligible to participate in the sale.
Notably, WLF is led by Zachary Folkman and Chase Herro, both previously associated with Dough Finance, a DeFi platform that suffered a security breach in July. The project has gained public support from Donald Trump, who is referred to as the “Chief Crypto Advocate”. His sons, Eric and Donald Trump Jr., act as the project’s “Web3 Ambassadors”.
Pushing Crypto Adoption
World Liberty Financial aims to promote the widespread adoption of digital assets through a compliant, all-in-one platform for alternative finance, with the WLFI token functioning as a governance tool, allowing holders to influence the project’s future direction.
The protocol proposed integrating with Aave’s v3 platform on Ethereum, facilitating liquidity for assets such as ether (ETH), wrapped bitcoin (wBTC), and stablecoins, with the potential to expand to other assets.
Related: Standard Chartered Predicts SOL 5X if Trump Wins Election, BTC $200K Regardless
It seems Aave is a big influence on the project, as its first phase also includes launching a decentralised lending platform, modelled after Aave, on the Ethereum mainnet and Layer 2 solution Scroll. This platform will allow users to lend and borrow assets like BTC, ETH, and stablecoins, earning interest from the fees paid by borrowers.
Author
José Oramas
José is a journalist and translator with a keen interest in blockchain and cryptocurrencies.
