Former U.S. President Donald Trump’s new cryptocurrency project, World Liberty Financial (WLF), will begin selling its tokens on October 15, 2024. This project has generated a lot of attention since its announcement earlier this year. However, the token sale will be limited only to people who meet certain qualifications, making it available mainly to accredited investors in the U.S.
What Is World Liberty Financial (WLF)?
World Liberty Financial is a decentralized finance (DeFi) platform. It allows users to lend and borrow cryptocurrencies, create liquidity pools, and use stablecoins for transactions, all built on the Ethereum blockchain. DeFi platforms like this one eliminate the need for traditional banks or financial institutions. Instead, users can trade and exchange assets directly without relying on intermediaries.
The platform’s creators, Zachary Folkman and Chase Herro, say that WLF is similar to popular DeFi platforms like Uniswap, which also let users trade digital currencies without middlemen. However, they warned that people should be cautious when using DeFi platforms because of risks like hacking threats and price volatility.
How to Participate in the Token Sale
The WLFI token, based on the ERC20 standard, will only be available to certain people through a whitelist process. The sale is open to accredited investors in the U.S. and a few other qualified participants worldwide. More than 100,000 people have already signed up on the WLF website since it launched on September 30.
To invest in the U.S., participants must meet the Securities and Exchange Commission (SEC) guidelines. This means they need to:
- Earn at least $200,000 per year, or
- Have total assets worth over $1 million.
For investors outside the U.S., the process is similar but depends on the rules in their home countries. Folkman and Herro emphasized that non-American investors must follow their local laws before joining the whitelist.
WLFI Token: Features and Distribution Plan
The WLFI token is not just a digital asset; it also plays a role in governance. This means that token holders will be able to vote on important decisions related to the platform, such as changes to policies or technical upgrades.
The token distribution plan includes:
- 63% of tokens available for public sale.
- 17% set aside for user rewards, like bonuses and incentives.
- 20% reserved for the development team.
The project hopes to raise $300 million by selling 20% of the total supply. This would give World Liberty Financial a valuation of $1.5 billion when fully developed.
Partnerships and Team Expansion
WLF has taken steps to strengthen its leadership team by hiring Rich Teo, a co-founder of the well-known cryptocurrency company Paxos. Teo will oversee stablecoin management and payment operations for the platform. Stablecoins are cryptocurrencies tied to real-world assets like the U.S. dollar, making them less volatile than other digital currencies.
Several big names from the crypto world participated in a live broadcast on the platform X (formerly Twitter) to discuss WLF’s technology and future. Guests included:
- Stani Kulechov, founder of Aave
- Sandy Peng, co-founder of the layer-2 network Scroll
- Luke Pearson, senior cryptographer at Polychain Capital
During the discussion, Kulechov said that it could take 10 years for DeFi to become widely popular since the technology is still evolving. He added that his goal is to make Aave’s technology accessible to everyone, which aligns with WLF’s vision of providing financial services without relying on traditional banks.
WLF’s Plans for the Future
The WLF team aims to make it easier for users to move their crypto assets to and from the platform. They are working with exchanges to create on-chain Know Your Customer (KYC) verification systems, which would speed up the registration process.
Another goal of the project is to divide real-world assets into smaller digital pieces, allowing investors to buy fractions of large investments, such as real estate. The project also seeks regulatory approval to ensure compliance with financial laws.
How WLF Could Influence the U.S. Presidential Election
The timing of WLF’s launch is politically significant. Donald Trump is currently running for president again as the Republican candidate in the November 2024 election. Some analysts believe that his involvement with the project reflects his ambition to make the U.S. a global leader in cryptocurrency and blockchain technology.
In the past, Trump has shown interest in NFTs (non-fungible tokens) and other digital assets. By supporting WLF, he signals that he wants America to embrace crypto innovation and benefit from new financial technologies. Many analysts predict that a Trump victory in the election could have a positive impact on the crypto market. In contrast, they argue that a win for Kamala Harris, the Democratic candidate, may result in stricter regulations for the industry.
According to Polymarket, a crypto-based betting platform, Trump currently has a 54% chance of winning the election, compared to 46% for Harris.
Trump Jr.’s Views on DeFi and Traditional Banking
Donald Trump Jr., a strong supporter of WLF, spoke during the X Spaces event about the future of decentralized finance. He criticized traditional banks, saying that they make it hard for ordinary people to get loans. He explained that DeFi platforms like WLF could offer cheaper and easier loans for people who struggle with high-interest loans from traditional banks.
Trump Jr. also urged the crypto community to vote in the upcoming election. He stressed the need for clear regulations that would make it easier for innovative projects like WLF to grow.
Conclusion: A Crypto Project with Big Goals
The launch of World Liberty Financial on October 15, 2024, is not just a financial event; it also carries political importance. Trump’s involvement with the project highlights his goal of making the U.S. a leader in blockchain technology. If the token sale is successful, it could boost Trump’s campaign and influence the outcome of the election.
For now, investors are keeping a close eye on how the WLFI token sale unfolds. The success of WLF could affect both the crypto industry and the U.S. economy in significant ways, shaping the future of finance in America and beyond.