World Liberty Financial, a new decentralized finance (DeFi) protocol endorsed by former US President Donald Trump, has announced the upcoming launch of its tokens.
This announcement comes as the US presidential election draws nearer, with Trump contesting as the Republican candidate.
WLFI Reportedly Targets $300 Million in Upcoming Token Sale
On October 11, World Liberty Financial revealed through a post on the social media platform X that the public sale of its WLFI tokens will commence on October 15. However, the sale will only be accessible to individuals who qualify through the whitelist.
“Big news! [World Liberty Financial] public sale starts Oct. 15th, open to everyone who qualifies through the whitelist,” the protocol stated.
According to recent reports, World Liberty Financial targets $300 million from the upcoming token sale. The project’s roadmap values the protocol at $1.5 billion. The WLFI tokens will serve as governance tokens, enabling holders to participate in the ecosystem’s development and decision-making processes.
Read more: Tokenomics Explained: The Economics of Cryptocurrency Tokens
Initially, the tokens will be non-transferable for the first 12 months after launch. Even if the community votes to lift this restriction, any implementation will only take place after the one-year period.
The team behind World Liberty Financial said they aim to build a decentralized, permissionless peer-to-peer digital asset system. Their plans include making the protocol accessible to a broad audience with features like one-click social logins and easy wallet creation.
“The WLFi protocol aspires to bring together leading technology in the blockchain industry with strategic partnerships and broad distribution channels built for mass adoption in order to redefine the landscape of DeFi,” the team stated.
World Liberty Financial was co-founded by Steve and Zach Witkoff, Zach Folkman, and Chase Herro. Donald Trump is the Chief Crypto Advocate, while his three sons serve as the project’s Web3 ambassadors.
Read more: Top 11 DeFi Protocols To Keep an Eye on in 2024
Market observers have pointed out that the DeFi venture was further evidence of Trump’s pro-crypto stance. Notably, crypto bettors on the decentralized prediction platform Polymarket believe that the former President has a 54.6% chance of winning the upcoming November elections.
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