insidebitcoins.com
Donald Trump and his family unveiled their World Liberty Financial crypto project, including the governance token WLFI.
The highly anticipated project was announced yesterday evening at Trump’s Mar-A-Lago resort via a two-hour livestream on X.
In an earlier video to promote the project, Trump had said, “We’re embracing the future with crypto and leaving the slow and outdated big banks behind.”
.@WorldLibertyFi pic.twitter.com/rHEGQXl4jL
— Donald J. Trump (@realDonaldTrump) September 12, 2024
During remarks on Sept. 16, Trump added that crypto is “big and yet it’s a fledgling compared to what it will be…my children opened my eyes.”
Donald Trump Family Crypto Project Is A DeFi Platform
Trump’s team confirmed that World Liberty Financial is a DeFi platform where users can borrow, lend, and earn interest using cryptocurrencies. As a result, it operates outside the confines of traditional finance.
Its WLFI token will be non-transferable and will not provide any economic rights. The team added that it wants buyers willing to take governance roles, not those seeking financial returns. The token will be non-transferable and non-yield bearing.
Based on its tokenomics, 63% of WLFI’s tokens will be sold to the public, 17% for user rewards, and 20% for team compensation.
Looks like Trump's finally jumping into crypto with World Liberty Financial on Ethereum
📌 No VC pre-sale – 63% straight to public
📌 17% for user rewards
📌 20% team allocation
📌 SEC-regulated sale
📌 DeFi lending on ETH (bullish?)This could be YUUUGE for #crypto adoption pic.twitter.com/SIzdxDh5Mg
— Budhil Vyas (@BudhilVyas) September 17, 2024
The project’s whitepaper reportedly says the platform will be built on top of Aave and the Ethereum blockchain, and will center around a “credit account system.”
A Push To Protect The Dollar’s Dominance Through Fiat-Backed Stablecoins
The Trump family has said it aims to bolster the global dominance of the US dollar, which it believes is “under attack,” through the World Liberty Financial platform.
“By spreading U.S.-pegged stablecoins around the world, we ensure that the U.S. dollar’s dominance continues, securing America’s financial leadership and influence on the global stage,” the project said in a Sept. 4 thread on X.
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