Trump Crypto Project Reportedly Secures 100K Signups Before Major Token Launch

World Liberty Financial (WLFI), the decentralized finance (DeFi) platform associated with Donald Trump, claims to have secured more than 100,000 signups ahead of its WLFI token launch today.

The platform revealed it will release an Ethereum-based ERC-20 governance token, which will be integral to the platform’s operations. The token will serve as a governance tool, allowing holders to participate in decision-making.

Zak Folkman, head of operations for World Liberty Financial, discussed details of the token during an X Spaces event yesterday. Folkman and team members Chase Herro and Zach Witkoff reiterated information already provided in a blog post last Friday.

The platform will enable users to borrow, lend, and transact with stablecoins, and also interact with liquidity pools. In the U.S., access will be restricted to accredited investors who meet certain financial requirements as set by the Securities and Exchange Commission (SEC), including earning over $200,000 annually or having assets exceeding $1 million.

WLFI Tokenomics Allocate 63% for Public Sale and 17% for Rewards

The WLFI tokenomics reveal that 63% of the tokens will be sold to whitelisted members of the public at the time of the launch, while 17% will be reserved for user rewards and 20% allocated to the project team.

According to a leaked white paper, the tokens will be nontransferable for 12 months, though they will be usable for governance votes immediately. The project aims to raise $300 million through the sale of tokens, with an estimated valuation of approximately $1.5 billion.

During the X Spaces event, it was also announced that Paxos co-founder Rich Teo would join the team, focusing on stablecoins and payment solutions. This addition to the team is expected to strengthen the platform’s offering in the DeFi space.

Partnership with Aave for DeFi Lending

World Liberty Financial will initially launch as a DeFi lending platform using Aave’s decentralized borrowing and lending technology. Aave founder and CEO Stani Kulechov made a brief appearance during the October 14 event, expressing his approval of World Liberty Financial’s decision to integrate with Aave’s platform. The team also confirmed plans to expand the platform to Ethereum layer-2 network Scroll in the future.

Donald Trump Jr., listed as the platform’s “Web3 Ambassador,” appeared briefly in X Spaces. He praised World Liberty Financial as an initiative to create a more inclusive financial system, criticized the current U.S. banking system, and vowed to make the U.S. the crypto capital of the world if he wins the presidential election.

Lawrence does not hold any crypto asset. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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