Trump’s World Liberty Financial Crypto Project Surpasses 100,000 Signups Ahead of Token Launch

Trump’s World Liberty Financial Crypto Project Surpasses 100,000 Signups Ahead of Token Launch

Donald Trump’s cryptocurrency initiative, World Liberty Financial (WLFI), has reportedly attracted over 100,000 signups in anticipation of its token launch on October 15. The decentralized finance (DeFi) platform will introduce its Ethereum-based ERC-20 governance token, WLFI, offering users various DeFi services such as borrowing, lending, and stablecoin transactions. The project aims to expand decentralized financial accessibility and is projected to reach a $1.5 billion valuation.

WLFI to Serve as the Governance Token

During an October 14 X Space event, Zak Folkman, head of operations for World Liberty Financial, confirmed key details about the WLFI token launch. He explained that WLFI will serve as the governance token within the World Liberty Financial ecosystem, allowing users to engage in platform decision-making. Alongside Folkman, team members Chase Herro and Zach Witkoff discussed the token’s role in enabling interactions with liquidity pools and crypto-based lending and borrowing.

However, U.S. users will face restrictions on accessing the platform’s services unless they qualify as accredited investors under SEC guidelines, requiring them to earn over $200,000 annually or hold more than $1 million in assets.

New Team Addition and Tokenomics

Folkman also announced that Rich Teo, co-founder of Paxos, has joined the team to lead the stablecoin and payments division, leveraging his blockchain expertise. The WLFI tokenomics reveal that 63% of tokens will be sold to whitelisted public members during the October 15 launch, while 17% will be set aside for user rewards, and 20% allocated to the project’s team. A leaked white paper outlines a $300 million fundraising goal through the token sale, aiming for a $1.5 billion project valuation. Notably, WLFI tokens will remain non-transferable for the first 12 months but can be used for governance voting on the platform immediately.

Focus on DeFi Lending and Expansion

World Liberty Financial’s primary focus is on DeFi lending, but the platform has plans to expand to Ethereum’s layer-2 network Scroll. Initially, the platform will launch on Aave, a leading decentralized lending protocol. Aave’s CEO, Stani Kulechov, briefly appeared during the X Space event to express his enthusiasm for the platform’s use of Aave’s borrowing and lending features.

Donald Trump Jr., the project’s “Web3 Ambassador,” praised the platform as a move toward financial inclusivity and criticized the U.S. banking system, calling it a “Ponzi scheme.” According to a survey conducted by Fairleigh Dickinson University, crypto owners tend to support Donald Trump, with 50% of respondents favoring the former president, who has recently become a vocal advocate for digital currencies.