cryptoglobe.com
Donald Trump took another step into the crypto world during a two-hour event on September 16, when he revealed key details about his DeFi project World Liberty Financial and its upcoming WLFI token.
https://t.co/ws1YSdE7WD
— Farokh (@farokh) September 16, 2024
According to reports by The Block and CNBC, while the token has not been launched, its structure and distribution plans were outlined to the public.
The WLFI token, described as a non-transferable governance token, will give holders a role in shaping decisions on the platform but will not be freely traded. Zak Folkman, co-founder of Dough Finance, confirmed that 63% of the total supply will be available for public purchase, while 17% will go towards user rewards, and the remaining 20% will be reserved for the founding team, including Trump and his family.
Crucially, there will be no pre-sales or early buy-ins, meaning everyone will have equal access to tokens when they become available. However, due to regulatory uncertainty, the initial sale of WLFI will be limited to accredited investors, following SEC Regulation D guidelines, which allow companies to raise capital without needing to register their securities.
During the event, Donald Trump Jr. emphasized the project’s mission to disrupt traditional finance by introducing DeFi (decentralized finance) solutions to the masses. “This is the start of a financial revolution,” Trump Jr. stated, as reported by The Block.
DeFi allows users to earn returns by lending stablecoins such as USDC and USDT through decentralized platforms, potentially offering higher yields than traditional financial products. The Block noted that analysts believe crypto credit markets could be reignited if stablecoin yields exceed 5%, surpassing those offered by U.S. money market funds.
Although no official launch date for the WLFI token was provided, the project has promised to share more updates via its official channels while warning users to be cautious of scams circulating online.