Inside Trump’s $11 Million Crypto Launch and Its Future Prospects
This blog post will cover:
- Day One Success: WLFI’s Strong Start
- Tokenomics: WLFI's Governance Structure
- Trump’s Ongoing Involvement in Crypto
- WLFI’s Roadmap and Future Goals
- Conclusion
The World Liberty Financial cryptocurrency platform, which was founded with the help of three sons of former and future US President Donald Trump, started a public token sale on October 15, 2024. The project was first announced at the end of August, and the team behind it stated that only accredited investors could purchase WLFI crypto, and that the token's purpose is to be used for management participation rather than financial incentives. In this article, we will examine the specifics of the project and its possible future.
Day One Success: WLFI’s Strong Start
As of October 16, World Liberty Financial has raised approximately 4% of the total amount that the project's creators had anticipated from the WLFI token sale. On October 16, Trump personally announced the project's token sale via the social network X. There are currently over 8,500 token holders, totaling 100 billion WLFI tokens. As of October 16, more than 82% of all tokens are at just three addresses, most likely awaiting further distribution, as reported by Etherscan.
With a price per WLFI of $0.015, approximately 761 million of the 20 billion WLFI tokens were sold in the first half on October 16. On the project website, there is information indicating that the initiative promoted by Trump had raised around $11.5 million. Additionally, it is known that while WLFI may be used to vote on the platform, it is a management token and cannot be transferred during the next year.
Tokenomics: WLFI's Governance Structure
Just a month ago, project co-founder Zak Folkman indicated that 63% of tokens will be allocated for sale, 17% will go to user incentives, and 20% of WLFI are intended for the team.
Nonetheless, the project's website has materials that define token allocation differently:
35% are for sale (although only 20% are announced on the website). It is possible that more rounds of funding through token sales are expected.
32.5% - for community expansion, stimulating development and protocol development.
30% - earmarked for initial users.
2.5% - earmarked for the team and consultants.
Trump’s Ongoing Involvement in Crypto
It's no secret that Trump has worked on other projects before; he actively promotes the cryptocurrency sector, issues NFTs, and accepts payments for his campaigns in cryptocurrency. As a result, by the middle of August, he had raised over $35 million, including $28 million in contributions and over $7 million from NFT sales.
Separately, CNBC reports that between July 1 and September 30, the Trump 47 Political Action Committee raised $7.5 million in cryptocurrency support of Trump, including Bitcoin, Ethereum, XRP, and the USDC stablecoin.
WLFI’s Roadmap and Future Goals
Launching a lending platform within the area of decentralized financial applications (DeFi) based on Aave, the biggest lending protocol available, will be the first step for World Liberty Financial. The platform will first be made available on the Scroll network, a layer 2 solution meant to help Ethereum grow. Customers of the platform will be able to lend and borrow tokens against other assets thanks to this.
In addition to pledging to send 20% of World Liberty Financial's commissions, the platform will donate 7% of all of its tokens - 7 billion WLFI - to the Aave DAO (Decentralized Autonomous Organization), granting Aave heavy voting rights.
In the next stage, WLFI plans to integrate with centralized exchanges to implement blockchain-based user attestation services, where customers will be able to authenticate themselves to WLFI using data from centralized services. World Liberty also intends to create a stablecoin-centric credit card to allow people to spend their tokens in the physical world.
The project intends to begin rolling out tokenized Real world assets (RWAs), such as hotels and sports clubs, in the last stages of development.
Conclusion
The success of World Liberty Financial will depend on its ability to integrate with centralized exchanges, fulfill its governance token promises, and roll out its tokenized asset plans. As the project progresses, both the crypto community and broader financial markets will be watching closely to see if WLFI can live up to its promises.
SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.
