World Liberty Monetary, the DeFi venture backed by the Trump household, has secured over 100,000 accredited US traders for its WLFI token presale whitelist, scheduled for Oct 15.
The venture is about to boost $300 million, with a projected valuation of $1.5 billion. Its launch comes simply weeks earlier than the US presidential election, wherein former President Donald Trump is working because the Republican candidate.
WLFI token pre-sale
Throughout an X Areas dialogue on Oct. 14, co-founders Zachary Folkman and Chase Herro outlined the platform’s core providers, emphasizing the platform’s long-term objective of constructing DeFi extra accessible.
Positioned as a governance token, WLFI will permit customers to take part in DeFi actions, together with borrowing, lending, liquidity creation, and stablecoin transactions.
The 2 co-founders additionally confirmed that non-US traders had been fastidiously vetted to adjust to native laws earlier than collaborating within the token presale. A number of key figures from the crypto house attended the dialogue, together with Aave CEO Stani Kulechov and Scroll co-founder Sandy Peng.
The venture’s governance mannequin will give attention to DeFi, with all choices made in keeping with US regulatory necessities. This give attention to regulatory compliance ensures that the platform stays a legally compliant operation, a big step in gaining belief within the nascent crypto business.
The token is designed to operate inside World Liberty Monetary’s platform, which integrates components of Ethereum and Scroll to supply excessive liquidity and low-fee transactions.
Moreover, the venture will incorporate the Aave V3 protocol for lending providers, permitting customers to borrow stablecoins and different belongings utilizing collateral reminiscent of USDC and Ethereum (ETH). Notably, Aave will obtain a 7% allocation of the WLFI provide to function a governance accomplice
Trump’s involvement
Trump, serving because the “chief crypto advocate,” has positioned the enterprise as a part of his broader imaginative and prescient to make the US a pacesetter in digital belongings.
In the meantime, Eric and Donald Trump Jr. are selling the venture as “web3 ambassadors,” whereas Barron Trump is credited because the “DeFi visionary,” additional highlighting the household’s direct involvement.
With simply three weeks left earlier than the US election, market analysts have pointed to Trump’s involvement as a possible enhance for the crypto sector. His pro-crypto stance contrasts sharply with Democratic candidate Kamala Harris, who’s seen as much less supportive of digital belongings.
In line with prediction markets, Trump is presently main within the 2024 presidential race, with Polymarket exhibiting him at 54.9% odds in comparison with 44.6% for Harris.
Talked about on this article
