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Trump-Linked World Liberty Financial Begins $300M Token Sale

by Sham
October 10, 2024
in Crypto, DeFi, Featured
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Trump-Linked World Liberty Financial Begins $300M Token Sale
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• Trump-linked World Liberty Financial is looking to raise $300 million at a $1.5 billion valuation in an initial sale of tokens next week
• The WLFI governance token will be non-transferable for 12 months but can be used for voting
• World Liberty Financial plans to launch a version of Aave on Ethereum Layer 2 Scroll, integrate with exchanges, create a stablecoin credit card, and fractionalize real-world assets

World Liberty Financial, a DeFi project associated with Donald Trump and his sons, aims to raise $300 million next week through an initial sale of governance tokens, according to a roadmap obtained by The Block.

NEW: 🇺🇸 The token sale for Donald Trump's DeFi project @worldlibertyfi is set to launch next week, selling 20% of its supply at a $1.5 billion valuation pic.twitter.com/89Itj6nq8p

— BlockNews.com (@blocknewsdotcom) October 10, 2024

World Liberty Financial Overview

World Liberty Financial is an upcoming crypto project co-founded by Steve and Zach Witkoff, Zak Folkman, and Chase Herro. The project’s mission is to drive mass adoption of digital assets through a compliant one-stop platform for alternative finance.

The project touts Donald Trump as its Chief Crypto Advocate and his three sons as Web3 Ambassadors. It also lists Polychain Capital’s Luke Pearson as its Head of Platform and Dolomite’s Corey Caplan as its Head of Technical Strategy.

WLFI Token Sale Details

The roadmap reveals that the initial sale of WLFI tokens will aim to raise $300 million at a $1.5 billion fully diluted valuation. This suggests there may be further token sales to follow.

WLFI will be a governance token used to vote on decisions about the future development of the WLFI platform. These tokens will be non-transferable for the first 12 months, even if the community votes to make them transferable during this period.

World Liberty Financial’s Plans

The first phase of World Liberty Financial is to launch a version of DeFi lending platform Aave on Ethereum Layer 2 network Scroll to enable lending and borrowing of tokens.

The second phase integrates with exchanges to allow easy on-ramping and off-ramping using on-chain KYC. World Liberty intends to create a stablecoin credit card to enable real world spending.

The final phase involves fractionalizing real-world assets and obtaining regulatory licenses to do so. This includes assets like hotels and sports clubs. The project also hopes to build a settlement platform for stablecoins.

Conclusion

The roadmap shows World Liberty Financial’s ambitious plans to become a major player in DeFi and blockchain, leveraging its high-profile connections. However, the project faces challenges in navigating complex regulations. It remains to be seen if the Trump-linked initiative will succeed in reaching mainstream adoption.

Tags: DeFiDonald TrumpThe BlockWorld Liberty FinancialZach Witkoff
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