Trump-backed World Liberty Financial to begin public token sale next week

The WLFI token sale will be open to all who have qualified through the project's whitelist.

World Liberty Financial, the nascent decentralized finance (DeFi) protocol backed by Donald Trump and his family, announced plans to begin selling tokens on Tuesday, exactly three weeks before the presidential election for which Donald Trump is the Republican nominee.

"Public sale begins [on] October 15th, open to all who qualify through whitelist," the project's social media account posted on Friday.

The project aims to raise $300 million from token sales, with 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 regarding the protocol's development, the report added.

Trump family members, including Donald Trump, publicly defended the project on social media, with the former president being dubbed a “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 a “DeFi Visionary.”

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