World Liberty Financial, the DeFi project backed by the Trump family, has secured over 100,000 accredited US investors for its WLFI token presale whitelist, scheduled for Oct 15.
The project is set to raise $300 million, with a projected valuation of $1.5 billion. Its launch comes just weeks before the US presidential election, in which former President Donald Trump is running as the Republican candidate.
WLFI token pre-sale
During an X Spaces discussion on Oct. 14, co-founders Zachary Folkman and Chase Herro outlined the platform’s core services, emphasizing the platform’s long-term goal of making DeFi more accessible.
Positioned as a governance token, WLFI will allow users to participate in DeFi activities, including borrowing, lending, liquidity creation, and stablecoin transactions.
The two co-founders also confirmed that non-US investors were carefully vetted to comply with local regulations before participating in the token presale. Several key figures from the crypto space attended the discussion, including Aave CEO Stani Kulechov and Scroll co-founder Sandy Peng.
The project’s governance model will focus on DeFi, with all decisions made in line with US regulatory requirements. This focus on regulatory compliance ensures that the platform remains a legally compliant operation, a significant step in gaining trust in the nascent crypto industry.
The token is designed to function within World Liberty Financial’s platform, which integrates elements of Ethereum and Scroll to provide high liquidity and low-fee transactions.
Additionally, the project will incorporate the Aave V3 protocol for lending services, allowing users to borrow stablecoins and other assets using collateral such as USDC and Ethereum (ETH). Notably, Aave will receive a 7% allocation of the WLFI supply to serve as a governance partner
Trump’s involvement
Trump, serving as the “chief crypto advocate,” has positioned the venture as part of his broader vision to make the US a leader in digital assets.
Meanwhile, Eric and Donald Trump Jr. are promoting the project as “web3 ambassadors,” while Barron Trump is credited as the “DeFi visionary,” further highlighting the family’s direct involvement.
With just three weeks left before the US election, market analysts have pointed to Trump’s involvement as a potential boost for the crypto sector. His pro-crypto stance contrasts sharply with Democratic candidate Kamala Harris, who is seen as less supportive of digital assets.
According to prediction markets, Trump is currently leading in the 2024 presidential race, with Polymarket showing him at 54.9% odds compared to 44.6% for Harris.
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Source: https://cryptoslate.com/trump-family-backed-world-liberty-financial-adds-100000-us-accredited-investors-to-whitelist/