Trump Family-Backed DeFi Project Confirms Token Launch: No Presale, Non-Transferable, 63% Public Sale
World Liberty Financial to Launch WLFI Governance Token, Trump Family Involved
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Trump's Opening Remarks
During a long X Spaces online event, Donald Trump opened the discussion with his views on cryptocurrency. He stated that his NFT project opened his eyes to the world of crypto, and was shocked to have earned over $7 million through sales of his NFT collection.
"Cryptocurrency is big, but it's in its infancy compared to where it's going... I think my kids opened my eyes."
DeFi and the WLFI Token
Following Trump's introduction, Donald Trump Jr. and real estate developer Steve Witkoff along with his son Zach Witkoff discussed the need to disrupt the lending market. Trump Jr. stated "This is the beginning of a financial revolution."
Subsequently, Dough Finance co-founder Zachary Folkman and Chase Herro, project leads for World Liberty Financial, along with Eric Trump provided further details on the project.
Zachary Folkman confirmed that World Liberty Financial will be selling a non-transferable governance token called WLFI, with no presale, venture capital, or early access rounds. The majority of the supply (62.66%) will be distributed in an upcoming public sale. A portion of the net proceeds from the sale will be added to the project's multi-signature wallet treasury reserve.
The WLFI token distribution will be as follows: 63% will be sold to the public, 17% will be allocated for user rewards, and 20% will be used for team compensation.
The project team also revealed that the sale of WLFI will be subject to regulation by the US Securities and Exchange Commission (SEC), and all purchasers of WLFI must meet US accredited investor vetting standards.
