Token sale for DeFi project World Liberty Financial allegedly linked to Donald Trump, is poised to raise $300 million.
The DeFi project World Liberty Finance, reportedly linked to former US President Donald Trump and his three sons, is set to launch its first token sale next week.
The sale aims to raise $300 million by offering 20% of the WLFI token supply, valuing the project at $1.5 billion when fully diluted.
World Liberty Finance to Raise $300M in Token Sale
World Liberty Finance plans to raise $300 million by selling 20% of its WLFI tokens, resulting in a market cap of $1.5 billion when fully diluted.
However, these tokens will be non-transferable for the first 12 months.
It will not be enacted even if a community vote passes to allow transferability within that period.
In addition, 63% of the tokens will be available in a future public sale, while 17% will be reserved for user rewards.
The team will receive 20% of the supply. WLFI serves as a governance token, enabling holders to participate in platform development decisions, with governance features active from the start, even while the tokens remain non-transferable.
The platform will be deployed on the Aave DeFi protocol.
Trump Joins as Chief Crypto Advocate
World Liberty Finance is co-founded by Steve and Zach Witkoff, Zak Folkman, and Chase Herro, with the goal of advancing digital asset adoption through a compliant alternative finance platform.
The project’s Know Your Customer (KYC) verification is now open on its website.
Donald Trump has taken on the role of Chief Crypto Advocate, and his three sons have joined as Web3 Ambassadors.
Other prominent figures include Luke Pearson from Polychain Capital as Head of Platform and Corey Caplan, co-founder of Dolomite, as Head of Technical Strategy.
The initial phase of the project involves deploying the Aave DeFi lending protocol on Scroll, an Ethereum Layer 2 scaling solution, allowing users to lend and borrow assets like Bitcoin, Ether, and stablecoins.
Aave’s governance has received a proposal to deliver 7% of the WLFI token supply to the Aave DAO for voting and liquidity, as well as 20% of the protocol’s fee revenue.
Future plans include integrating exchanges with on-chain KYC attestations, a stablecoin-focused credit card, and fractionalizing real-world assets like hotels and sports clubs.
The project targets accredited US investors and qualified international investors while criticizing outdated US regulations limiting broader token sale access.
Trump’s Shift from Critic to Digital Assets Advocate
Donald Trump’s view on cryptocurrency has shifted dramatically in recent months. After calling it a “scam against the dollar” in 2021, he has embraced digital assets as part of his 2024 presidential campaign.
At a Bitcoin conference in Nashville, Trump announced his ambition to make the US the “crypto capital of the world.”
He has also ventured into the digital market by releasing several NFTs, including one featuring his mugshot.
His campaign has leaned into crypto fundraising, raising approximately $3 million from crypto-linked donors in July, making him the first presidential candidate to accept campaign donations in cryptocurrency—a significant departure from his previous skepticism.
The World Liberty Finance project reflects his newfound support for digital assets.
