World Liberty Financial, Trump-Backed Project, to Launch $300M Public Token Sale

World Liberty Financial, a DeFi project with ties to former President Donald Trump, will begin its public WLFI token sale on Tuesday.

If all goes well, the project roadmap calls for the company to raise $300 million. This would go through an initial sale of WLFI tokens by selling 20% of the total supply at a fully diluted valuation of $1.5 billion.

A new DeFi project called World Liberty Financial, backed by Donald Trump and his family, announced Tuesday plans to kickstart its token sale. It’s a three weeks ahead of the presidential election in which he is the Republican nominee.

The allowlist, which opened on September 30, has already attracted “thousands” of sign-ups.

The project clarified the token distribution in a live stream last month: 63% of WLFI tokens will be sold to the public.  Other 17% and 20% are intended for user rewards and team compensation. The sale is available to accredited US investors, qualified UK investors, and investors from other countries.

🦅🇺🇸 Big news! @WorldLibertyFi public sale starts Oct. 15th, open to everyone who qualifies through the whitelist. Join us for a Twitter Spaces on Oct. 14th at 8 AM EST to learn more. Stay tuned for updates!

— WLFI (@worldlibertyfi) October 11, 2024

In the most recent live stream, it was stated that 63% of WLFI tokens would be available to sell to the public, 17% to be set aside for user rewards, and the remaining 20% to team compensation. The token sale will be available to US-accredited investors, UK-qualified investors, and investors in other eligible countries.

Trump’s World Liberty Financial Aims to Raise $300M

World Liberty Financial, a DeFi project associated with Donald Trump, seeks $300 million from selling 20% of its $WLFI tokens. This would happen at a market capitalization of $1.5 billion once fully diluted. These tokens, however, would not be able to be transferred within those first 12 months. Even when such a community vote in the first 12 months passes for these tokens to be transferable, they shall not be.

This is likely not all since 63% of the token supply will go through a public sale in the future. Also, user rewards reserved 17% of the supply. 20% of the tokens go to the team. WLFI is a governance token, and this will let holders vote on the platform’s development decisions.

Governance functionalities have been live from the very beginning. As such, they will not be restricted even when tokens remain in a non-transferrable state. It is worth mentioning that the platform will be deployed on the Aave DeFi protocol. 

Trump Joins World Liberty Financial as Chief Crypto Advocate

World Liberty Financial is a new crypto project from its co-founders, Steve and Zach Witkoff, Zak Folkman, and Chase Herro. It aims to further the mass adoption of digital assets by developing a compliant alternative finance platform. It recently opened its Know Your Customer (KYC) verification process on its website.

Donald Trump has assumed the role of Chief Crypto Advocate in the World Liberty Financial, and his three sons are on board as the Web3 Ambassadors.

Other big stars associated with the project include Luke Pearson, with Polychain Capital, as Head of Platform, and Corey Caplan, a Dolomite co-founder, as the Head of Technical Strategy.

The first phase includes deploying a version of the Aave DeFi lending protocol onto Scroll, a Layer 2 scaling solution for Ethereum. Users will be able to lend and borrow various assets such as Bitcoin, Ether, and several stablecoins.

Aave’s governance has already received the proposal. The deployment of the lending protocol Aave V3 will deliver 7% of the WLFI token supply to the Aave DAO for voting and liquidity, in addition to 20% of the protocol’s fee revenue the protocol’s fee revenue.

Later stages of World Liberty Financial will include integrating exchanges with on-chain KYC attestations, a credit card focused on stablecoins, and fractionalizing real-world assets such as hotels and sports clubs. The project, which targets US-accredited and qualified investors abroad, has lobbied for criticism of outdated US regulatory policy that prevents broader access to its token sale.

From “Scam” to Advocate for Digital Assets

Donald Trump’s stance on cryptocurrency has eminently changed in the past few months. From calling it a “scam against the dollar” in 2021, he has adopted digital assets in his run for president in 2024.

Last month, during a Nashville conference, he announced his plan to make the US the “crypto capital of the world.” He ventured directly into the digital markets, issuing several sets of NFTs, including one with his mugshot.

His campaign has also made a tactical pivot to crypto fundraising. In July, the Donald Trump campaign brought about $3 million from donors linked to cryptocurrency.

He also became the very first presidential candidate to accept campaign donations in cryptocurrency. This is a far cry from his previously expressed skepticism, and the World Liberty Financial project proves it.