Donald Trump’s crypto project, World Liberty Financial, will hold 63% of WLFI token supply for public addressing regulatory purposes.
On Monday, Republican presidential candidate Donald Trump officially introduced his much-anticipated decentralized finance (DeFi) crypto project, World Liberty Financial.
Shortly after, it was revealed that the project would have its own native token, WLFI, though only limited details were available about the initiative.
Donald Trump’s World Liberty Financial WLFI Token Distribution
Trump provided few specifics about the crypto project during his two-hour livestream, but later Zak Folkman, one of the project leaders, confirmed that there “will be a token.”
In a prepared statement, Folkman explained that World Liberty Financial would issue non-transferable WLFI tokens, which would serve as “pure governance tokens, only allowing holders to make proposals and vote on platform-related matters.”
Details about the WLFI token distribution indicate that 63% of the tokens will be available to the public, while 17% will be set aside for public use, and the remaining 20% will be allocated for public compensation.
Addressing Security Concerns
Folkman also touched on concerns about regulatory uncertainty surrounding crypto tokens and their sales in the U.S., noting that WLFI sales would be limited to certain individuals.
“Although we don’t consider WLFI to be a security, it’s prudent to limit the sales to those eligible for transactions exempt from registration under U.S. federal securities law,” he said.
U.S. participants will need to be accredited investors or reasonably verified to engage in token sales.
Folkman, along with Chase Herro, the co-leader of World Liberty Financial, emphasized that the project aims to remove barriers within the traditional financial system.
Despite the project’s launch, the community reaction has been largely negative.
After the recent assassination attempt on Trump, the former president unveiled the project but shared minimal details about the DeFi platform’s functionality, leading to disappointment among the audience.
Several listeners in the X Spaces launch of World Liberty Financial voiced frustration about the lack of substantial information on the platform’s functionality.
Previous reports suggest that Trump’s DeFi project may offer borrowing and lending services, similar to Dough Finance.
Crypto has become a focal point in the ongoing Trump vs. Harris rivalry. Recently, XRP Healthcare, a startup based on the XRP Ledger, endorsed Trump for the upcoming presidential election.
