World Liberty Financial, a decentralized finance (DeFi) initiative endorsed by the Trump family, is preparing for its WLFI token presale, which has attracted over 100,000 accredited investors within the United States. This presale is set to commence on October 15 and aims to raise a substantial $300 million, anticipating a valuation of approximately $1.5 billion. The launch occurs just ahead of the US presidential election where former President Donald Trump is on the ballot as the Republican nominee.
WLFI Token Presale Overview
In a recent discussion on X Spaces on October 14, co-founders Zachary Folkman and Chase Herro detailed the foundational services of their platform. Their vision revolves around enhancing the accessibility of DeFi for a broader audience.
The WLFI token will serve as a governance instrument within the platform, enabling users to engage in various DeFi operations, including:
- Borrowing and lending
- Creating liquidity
- Engaging in stablecoin transactions
The founders confirmed that non-US participants underwent rigorous vetting to align with local regulations prior to entering the token presale. The discussion attracted notable members of the crypto industry, including Aave CEO Stani Kulechov and Scroll co-founder Sandy Peng.
This project’s governance framework is anchored in regulatory compliance, ensuring that decisions are undertaken in accordance with US laws, thereby fostering trust in the emerging crypto market.
The WLFI token will operate on the World Liberty Financial platform, which combines elements from Ethereum and Scroll for enhanced liquidity and reduced transaction costs. Additionally, the platform will leverage the Aave V3 protocol to facilitate lending operations, permitting users to borrow stablecoins and other assets backed by collateral such as USDC and Ethereum (ETH). Aave is set to receive a 7% allocation of the WLFI token supply, marking its role as a governance partner.
Trump’s Role and Influence
Donald Trump has taken the role of the “chief crypto advocate,” framing this endeavor within his broader strategy to position the United States as a pioneer in the digital asset landscape.
Meanwhile, his sons, Eric and Donald Trump Jr., are championing the project as “web3 ambassadors,” while Barron Trump has been acknowledged as the “DeFi visionary,” highlighting the family’s active participation in the initiative.
As the election approaches in three weeks, analysts suggest that Trump’s involvement could significantly influence the crypto sector, contrasting with Democratic candidate Kamala Harris, whose stance is perceived as less favorable towards digital assets.
Based on prediction markets, Trump currently leads in the race for the 2024 presidency, with Polymarket reflecting his chances at 54.9% against Harris’s 44.6%.