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During an X-spaces live audio interview with pro-crypto Presidential candidate Donald Trump on Monday, the World Liberty Finance team announced plans to launch a governance token dubbed $ WLFI soon. The WLFI token will enable the Trump-family-related crypto project to provide seamless lending services on the Ethereum (ETH) network.
According to Zack Folkman, the platform’s operations lead, and Chase Herro, the head of data and strategy, the WLFI token will be regulated by the US Securities and Exchange Commission. Most importantly, the WLFI tokens will be non-transferable and will not provide any economic rights to the holder of World Liberty Finance.
“There have been no pre-sales and no VC, early buy-ins. It is just like any other DeFi project you can expect to see that’s launching now with incredibly fair token distribution,” Folkman noted.
Closer Look at WLFI Tokenomics
With the significant hype on the World Liberty Finance Web3 project, primarily due to its affiliation with Donald Trump, the team has cautioned crypto enthusiasts to stay away from potential scams until official confirmation of the token launch. Moreover, there are reports of fake WLFI airdrops only intended for value extraction.
For the WLFI distribution, 63 percent of the total supply will be sold to the public on the Ethereum network. Approximately 17 percent will be set aside for user rewards. The remaining 20 percent will be set aside for team compensation, including new hires and advisors.
Meanwhile, the team highlighted that the official launch date of the WLFI tokens will be communicated through the official social media channels.