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Donald Trump-backed DeFi protocol World Liberty Financial will kick off its WLFI token sale on October 15.
The DeFi project is reportedly aiming to raise $300 million, with its roadmap valuing the protocol at around $1.5 billion.
The token will serve as a governance tool and play a role in the team’s goal of building a decentralized financial ecosystem.
World Liberty Financial, a new decentralized finance (DeFi) protocol endorsed by former U.S. President Donald Trump, has announced the upcoming launch of its token.
The news comes as the US presidential election approaches, with Trump running as the Republican candidate.
WLFI’s Upcoming Token Sale Reportedly Targets $300 Million
On October 11, World Liberty Financial revealed through a post on the social media platform X that its WLFI token will be available for public sale starting October 15. However, only eligible individuals through a whitelist will be able to participate in the sale.
“Big news! The [World Liberty Financial] public sale will begin on October 15th, open to all who qualify via a whitelist,” the protocol noted. According to recent reports, World Liberty Financial aims to generate $300 million from its upcoming token sale. The project’s roadmap pegs the protocol’s valuation at $1.5 billion. WLFI tokens will serve as governance tokens, enabling holders to participate in the ecosystem’s development and decision-making process.
Initially, tokens will not be transferable for the first 12 months after issuance. Even if the community votes to remove this restriction, it will only be implemented after one year.
The team behind World Liberty Financial said their goal is to build a decentralized, permissionless, peer-to-peer digital asset system. Their plans include making the protocol accessible to a broad audience and offering features such as one-click social login and easy wallet creation.
The team said: "WLFi Protocol hopes to combine the leading technology of the blockchain industry with strategic partnerships and extensive distribution channels established for mass adoption to redefine the DeFi landscape." World Liberty Financial was co-founded by Steve and Zach Witkoff, Zach Folkman, and Chase Herro. Donald Trump is the chief cryptocurrency advocate, and his three sons serve as Web3 ambassadors for the project.
Market observers point to DeFi investments as further evidence of Trump’s pro-cryptocurrency stance. Notably, cryptocurrency bettors on decentralized prediction platform Polymarket believe the former president has a 54.6% chance of winning the upcoming November election.
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