World Liberty Financial, a decentralized finance (DeFi) protocol endorsed by Donald Trump and his family, has just announced plans to launch its token sale next Tuesday—only three weeks before the official U.S. presidential election, where Trump is running as the Republican Party’s candidate.
In a Twitter post (also known as X) on Friday, World Liberty Financial stated that the public token sale will begin on Tuesday, October 15th. Specifically, this will mark the opening for all those on the whitelist to participate in the token purchase. The project aims to raise $300 million, with a valuation reaching up to $1.5 billion. The soon-to-launch token, called WLFI, will serve as the governance token for the protocol, allowing users to vote on development initiatives.
World Liberty Financial was founded by Zachary Folkman and Chase Herro, both of whom were involved in the development of Dough Finance—a DeFi platform that was hacked in July, resulting in the loss of $2 million in crypto assets.
The Trump family, including former President Donald Trump, has openly supported the project on social media. Trump has been dubbed the “Chief Crypto Ambassador,” while his two sons, Eric Trump and Donald Trump Jr., serve as “Web3 Ambassadors.” Even his youngest son, Barron Trump, has been referred to as the “DeFi Thinker.”
According to governance forums from Aave, the project is expected to launch on Aave v3 on the Ethereum network to “provide liquidity for Ethereum (ETH), wrapped bitcoin (wBTC), stablecoins, and other digital assets.”
