Market Watch

Trump-Supported World Liberty Financial Will Start Public Token Sale Next Week

World Liberty Financial, the nascent decentralized finance (DeFi) protocol supported by Donald Trump and his family, announced plans to start selling tokens on Tuesday – exactly three weeks before the presidential election for which Donald Trump is the Republican candidate. “Public sale starts [on] October 15th, open to everyone who qualifies through the whitelist,” the project’s social media account posted on Friday.

Bettors on blockchain-based prediction market Polymarket see Donald Trump as the frontrunner in the presidential election taking place on Nov. 5.

World Liberty Financial is spearheaded by Zachary Folkman and Chase Herro, who worked previously on DeFi platform Dough Finance, which saw $2 million of crypto assets drained through a July exploit.

Members of the Trump family, including Donald Trump, publicly championed the project on social media, with the former president being titled as “Chief Crypto Advocate” Two of his sons, Eric Trump and Donald Trump Jr., are involved as “Web3 Ambassadors,” while his other son Barron Trump is listed as “DeFi Visionary.”

The project aims to raise $300 million from the token sales at a valuation of $1.5 billion, according to its roadmap obtained and reported by The Block on Thursday. The upcoming token, called WLFI, serves as the protocol’s governance token and would allow users to vote on initiatives about the the protocol’s development, the report added.

The project proposed to launch on DeFi lending powerhouse Aave’s v3 platform on Ethereum mainnet for “providing liquidity for ether (ETH), wrapped bitcoin {{wBTC}}, stablecoins and potentially other digital assets,” according to an Aave governance post on Wednesday.

Terron Gold

Recent Posts

S&P Global Acquires OpenZeppelin as Wall Street Pushes Deeper Onchain

S&P Global has agreed to acquire smart contract security company OpenZeppelin, bringing one of blockchain’s…

3 days ago

House Advances Sweeping Crypto Tax Bill After CLARITY Act Setback

Less than 24 hours after the CLARITY Act failed to clear its Senate procedural hurdle,…

4 days ago

Circle Launches Arc Mainnet With BlackRock and Visa as Validators

Circle has officially launched the public mainnet of Arc, its new Layer 1 blockchain built…

4 days ago

House Panel Advances Bill to Lock U.S. Bitcoin Reserve Into Law For 20 Years

U.S. lawmakers have advanced legislation that would turn President Donald Trump’s Strategic Bitcoin Reserve from…

4 days ago

Pixelmon Shuts Down Game Development After Years of Trying to Recover

Pixelmon is officially ending game development and laying off its gaming team after an external…

4 days ago

CLARITY Act Stalls After Senate Vote Falls Short

The CLARITY Act suffered a major setback in the U.S. Senate after lawmakers failed to…

5 days ago