World Liberty Financial, a decentralized finance project supported by the Trump family, has successfully added over 100,000 accredited US investors to its whitelist for the WLFI token presale, which is scheduled for October 15. The project aims to raise $300 million, with a projected valuation of $1.5 billion. This announcement comes at a crucial time, just weeks before the US presidential election, where former President Donald Trump is a candidate for the Republican party.
During a recent X Spaces discussion, the co-founders of World Liberty Financial, Zachary Folkman and Chase Herro, shared insights into the platform’s services. They highlighted the goal of making DeFi more accessible to users in the long run. The WLFI token, positioned as a governance token, will enable users to engage in various DeFi activities, including borrowing, lending, liquidity provision, and stablecoin transactions.
It’s worth noting that non-US investors were subjected to thorough vetting processes to ensure compliance with local regulations before participating in the token presale. The project’s governance model is centered around DeFi, with all decisions aligning with US regulatory standards. This commitment to regulatory compliance is crucial for establishing trust within the evolving crypto industry.
World Liberty Financial’s platform integrates elements of Ethereum and Scroll to offer high liquidity and low-fee transactions. Moreover, the project will incorporate the Aave V3 protocol for lending services, enabling users to borrow stablecoins and other assets using collateral like USDC and Ethereum. Aave will receive a 7% allocation of the WLFI supply to act as a governance partner.
The involvement of the Trump family in this venture is significant, with Trump himself serving as the “chief crypto advocate.” Eric and Donald Trump Jr. are promoting the project as “web3 ambassadors,” while Barron Trump is recognized as the “DeFi visionary,” underscoring the family’s direct engagement in the project. Market analysts believe that Trump’s support could potentially benefit the crypto sector as the US election approaches. This backing stands in contrast to Democratic candidate Kamala Harris, who is perceived as less supportive of digital assets.
As per prediction markets, Trump currently leads the 2024 presidential race, with Polymarket indicating 54.9% odds in his favor compared to 44.6% for Harris. The involvement of prominent figures from the crypto space, such as Aave CEO Stani Kulechov and Scroll co-founder Sandy Peng, further adds credibility to World Liberty Financial’s project.
In conclusion, World Liberty Financial’s expansion of its accredited investor whitelist by 100,000 Americans for the WLFI token presale signifies a significant milestone for the project. With a strong focus on regulatory compliance, innovative DeFi services, and high-profile endorsements, the platform is poised to make a notable impact in the crypto industry.