World Liberty Financial (WLF), Donald Trump’s fresh crypto project, released a 13-page “Gold Paper” outlining its mission and token allocation. Shockingly it revealed that the Trump family could just pocket 75% of the net revenue from the project.
In the “World Liberty Gold Paper,” WLF announced plans to allocate 22.5 billion $WLFI tokens to the Trump family. At launch, these tokens will be valued at around $337.5 million. This move comes in as Donald Trump is holding an impressive lead in the US election forecast over Kamala Harris.
Trump’s WLFI token aims for $300M
Once known as “The DeFiant Ones,” this project is pushing hard as Trump battles it out with Kamala Harris in the political arena. The WLFI token launched recently, and looking to raise $300 million at a $1.5 billion valuation. As of Thursday October 18, only $12.9 million worth of tokens have been sold.
The token allocation breakdown includes 35% for the token sale, 32.5% for community growth, 30% for initial support, and 2.5% for the founding team. However, these amounts are subject to change.
The paper mentions that Trump and his family hold no liability, while, none of them are directors, employees, managers, or operators of WLF or its affiliates. It added that the tokens are not political and have no affiliation with any political campaign.
WLF aims to be a crypto bank
WLF is positioning itself as a crypto bank, inviting customers to borrow, lend, and invest in digital coins. According to the document, net protocol revenue includes everything from platform fees to advertising profits, minus expenses.
It plans to hold $30 million of initial revenue in reserves for operating expenses and other financial obligations. The remaining 25% of net protocol revenue will go to Axiom Management Group (AMG), owned by co-founders Chase Herro and Zachary Folkman. AMG will share half of its revenue rights with WC Digital Fi, tied to Trump’s ally, Steve Witkoff and his family members.
“Trump holds a 61% chance of winning”
Polymarket shows that former president Trump holds a 61% chance of winning in the 2024 Presidential elections ahead of VP Kamala Harris. A few weeks ago, both contenders were tied in the race.
The fresh leap has moved the crypto market to print greens as Bitcoin regained the crucial $68,000 price level, recently. The cumulative crypto market is up marginally to stand at $2.32 trillion with a trading volume of $76.2 billion.
Bitcoin price saw an upswing of over 12% in the last 7 days, pumping the major altcoins. BTC is trading at an average price of $68,022, at press time.
Source: https://www.cryptopolitan.com/trumps-crypto-project-promises-75-profit/