Trump DeFi Project Struggles to Sell Tokens in WLFI Sale

At noon on October 15 (UTC), the DeFi project World Liberty Financial, promoted by the family of former U.S. President Donald Trump, officially launched its WLFI token sale event for eligible investors. The project aims to sell 20 billion tokens at a starting price of $0.015, targeting a total raise of $300 million.

However, as of 4 a.m. on October 16, 2024, World Liberty Financial had only sold around 700 million WLFI tokens, with more than half of the sales occurring within the first hour.

World Liberty Financial is a DeFi project initiated by Trump’s two sons, Donald Trump Jr. and Eric Trump. It was later promoted by the former president during his campaign. According to initial information, the project is a cryptocurrency lending platform, operating through Aave and Scroll, with future plans to support stablecoin credit and develop Real World Assets (RWA).

The project is currently open only to U.S. citizens and requires a rigorous KYC verification process. Buyers of WLFI tokens must also complete KYC before participating. A project representative stated that up to 100,000 investors had registered to purchase the tokens.

WLFI is designed to be a governance token, allowing holders to participate in decision-making for World Liberty Financial. However, the token will remain “non-transferable” during the first year.

On the morning of October 15, Trump posted about the WLFI token sale event of World Liberty Financial on his X (Twitter) account, drawing attention from his more than 91.6 million followers.

(8 votes)