Trump-Backed World Liberty Financial Amasses Over 100K Signups Ahead Of Token Launch
World Liberty Financial, the Trump family-backed crypto project, prepares for its token launch on Tuesday.The DeFi project claimed it recorded over 100,000 whitelist signups of accredited US investors ahead of the WLFI debut.
After its token launch, WLF plans to amass $300 million, raising its valuation to $1.5 billion.
The project will function as a unified platform,allowing users to easily lend or borrow crypto assets, transact with stablecoins, and establish liquidity pools.
WLF Whitelists Over 100,000 Accredited US Investors Ahead Of Token LaunchIn an X post, the team behind World Liberty Financial revealed some information regarding the project with several speakers.The project claimed to have recorded over 100,000 accredited US investors before its token launch.
- WLFI (@worldlibertyfi) October 14, 2024
Further, the project team noted that the WLFI will go live in the US morning hours on Tuesday, October 15. Notably, the token's debut comes a few weeks before the US presidential election, with Donald Trump running as the Republican candidate.
According to the protocol's head of operations, Zak Folkman, the WLFI token would be an ERC-20 coin. Folkman also revealed that WLFI will operate as the governance token of the DeFi platform.
Moreover, Folkman and other WLF team members spoke about the project's functionalities, primarily those shared on its official X account.
The project team explained that accredited US investors are authorized by the US Securities and Exchange Commission (SEC) to invest in unregistered securities, such as pre-IPO shares.
Usually, these investors satisfy some set criteria on income, such as a minimum of $200,000 in annual earnings and over $1 million in net assets. However, those whitelisted under the category of non-US investors are subject to their local regulations.
Further, the team pointed out that the DeFi platform will enable users to lend or borrow crypto assets easily. Also, users can transact with stablecoins and establish and engage in liquidity pools.
Moreover, the project aims to raise about $300 million via token sales. This move will help it scale its valuation to $1.5 billion after the funding process.
During the X Space session,the WLF team declared Paxos co-founder Rich Teo the lead for WLF stablecoin operations and payments.
Many prominent crypto personalities attended the X space event. These include Aave founder Stani Kulechov, co-founder of layer-2 network Scroll Sandy Peng, senior researcher at Polychain Capital Luke Pearson, and others.
During the X space event, Donald Trump Jr., WLF's Web3 Ambassador, also spoke.
World Liberty Financial Functionalities And Trump Family Engagement In The Crypto SpaceThe WLFI token sales align with the US Securities and Exchange Commission (SEC)'s Regulation D rules.All the platform's governance decisions will conform to US regulations to ensure changes and votes comply with laws.
According to WLFI tokenomics, 63% of the coins will be distributed in public sales. The project team gets a 20% allocation, while the remaining 17% is reserved as rewards within the WLF ecosystem.
Meanwhile, World Liberty Financial plans to launch as an Aave instance on the Ethereum mainnet. Also, the project intends to expand to Scroll, an Ethereum layer-2 network, as it records more adoption and growth.
Former President Donald Trump, who is running as the Republican candidate, has demonstrated his support for the crypto industry.
If he wins the November election and becomes president, he promises to make the US a global crypto hub.
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