Trump-backed WLFI token sale faces platform issues amid strong demand

October 15, 2024 08:49 AM PDT | By Invezz

Trump-backed WLFI token sale faces platform issues amid strong demand — Image source: Invezz

WLFI’s ambitious goals

World Liberty Financial aims to build a decentralized financial platform where users can borrow, lend, and create liquidity pools using cryptocurrencies.

The WLFI token, central to the platform’s governance, gives holders voting power on key decisions regarding future platform developments.

The project’s target is to raise $300 million, which would give WLFI a projected valuation of $1.5 billion.

A total of 100 billion tokens will be issued on the Ethereum blockchain, contributing to the fast-growing DeFi space.

Trump family’s role

The involvement of the Trump family has generated considerable media attention.

Donald Trump is branded as the “chief crypto advocate,” while his sons, Eric and Donald Trump Jr., serve as “Web3 ambassadors.”

Barron Trump is intriguingly labeled a “DeFi visionary,” with the Trump family’s involvement expected to bridge the gap between traditional Web2 users and the decentralized Web3 world.

World Liberty Financial has also whitelisted over 100,000 accredited US investors in compliance with SEC regulations.

These investors must meet specific income and asset thresholds, including earning over $200,000 annually or having a net worth exceeding $1 million.

Token dynamics and US compliance

WLFI’s tokenomics focus on ensuring governance stability and compliance with US financial regulations.

The project’s recently released “gold paper” outlines the token distribution and its importance to the network.

WLFI tokens will remain locked in a smart contract until the token sale is completed, emphasizing the project’s commitment to a structured and regulated governance model.

Moreover, the project has positioned itself as a strong advocate of US dollar-based stablecoins, aiming to maintain the dollar’s global reserve currency status while promoting decentralized finance.

With strong initial demand and high-profile backing, World Liberty Financial is poised to become a significant player in the DeFi space, though its success will depend on overcoming technical challenges and navigating the regulatory landscape.

The post Trump-backed WLFI token sale faces platform issues amid strong demand appeared first on Invezz

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