World Liberty Financial is a DeFi project backed by US presidential candidate Donald Trump and his family members, including Eric Trump, Donald Trump Jr., and Barron Trump. The project aims to strengthen the position of the US dollar in the DeFi space.
About World Liberty Financial
World Liberty Financial’s mission is “Make Crypto and America Greater by Driving the Mass Adoption of Stablecoins and Decentralized Finance.” The project aims to ensure that stablecoins pegged to the US dollar continue to serve as global payments into the next century, just as the US dollar currently does in international finance.
The project has not yet officially launched, but is expected to launch Aave V3, which will allow World Liberty Financial to function as a crypto lending and borrowing marketplace, sharing revenue with Aave’s DAO.
Despite receiving an endorsement from Donald Trump, World Liberty Financial’s website states that no members of the Trump family or employees of the Trump Organization are on the project’s board of directors. The Trump family is only acting as advisors and has been allocated approximately 22.5 billion WLFI tokens, along with a commitment to receive fees for services provided. World Liberty Financial asserts that the project is completely apolitical and has no connection to any political campaigns.
WLFI Token
The WLFI token is World Liberty Financial’s governance token, each token granting holders a vote in community proposals on the governance platform. Unlike other governance tokens such as UNI or MKR, WLFI does not provide economic rights and does not function as a DAO. Importantly, WLFI will not be transferable once purchased, meaning users will not be able to trade or sell the token in the near future. Although it may be subject to change through a governance proposal, it is anticipated that WLFI will remain untradeable for a long time. The total supply of the token is capped at 100 billion units. The token is developed on the Ethereum blockchain.
WLFI Token Distribution
The WLFI token is allocated 35% for the token sale. Community developers and incentives are allocated 32.5%. Early investors are allocated 30%. The remaining 2.5% is reserved for the advisory team and members.
Although WLFI is illiquid, the public sale took place on October 15, 2024 on the Ethereum mainnet and attracted moderate interest. A total of 20 billion tokens (20% of the total supply) were sold, raising approximately $14 million to date.
How to buy WLFI token
To buy the token, the first thing you need to do is register an account and complete the KYC process. During the KYC process, you need to provide your ID and facial recognition. After completing the KYC process, you can buy WLFI at the current price of $0.015.
Conclusion
Currently, information about World Liberty Financial is limited as the project has not officially launched. The future of the WLFI token is still in a state of uncertainty but is promising, as it is the first DeFi governance token to be introduced with unique features such as non-transferability and no economic benefits. This is unprecedented in the DeFi space, as projects often delay the activation of such features until they are ready, while assuring users that economic benefits will be a priority in the future. However, for World Liberty Financial, this is not the main focus, as they are not focusing on developing the value or trading capabilities of the token.
However, the project’s branding and support from Donald Trump make it noteworthy. Cryptocurrency users are keeping an eye on this project as it could be the first cryptocurrency project to be backed by a US president.
