World Liberty Monetary, a DeFi mission backed by the Trump household, has secured greater than 100,000 accredited US traders for its WLFI token pre-sale, scheduled for October fifteenth.
The mission is predicted to boost $300 million with an estimated worth of $1.5 billion. Its launch comes simply weeks earlier than the US presidential election, by which former President Donald Trump is working because the Republican candidate.
WLFI Token Presale
Throughout an X Areas dialogue on October 14, co-founders Zachary Folkman and Chase Herro outlined the platform's core providers and highlighted the platform's long-term aim of creating DeFi extra accessible.
Positioned as a governance token, WLFI will permit customers to take part in DeFi actions, together with borrowing, lending, liquidity era and stablecoin transactions.
The 2 co-founders additionally confirmed that non-US traders had been fastidiously screened to fulfill native laws earlier than taking part within the token presale. A number of key figures from the crypto house participated within the dialogue, together with Aave CEO Stani Kulechev and Scroll co-founder Sandy Peng.
The mission administration mannequin will concentrate on DeFi, with all choices made in compliance with US regulatory necessities. This concentrate on compliance ensures that the platform stays legally compliant, a big step in direction of gaining confidence within the nascent crypto trade.
The token is designed to work inside the World Liberty Monetary platform, which integrates components of Ethereum and Scroll to offer excessive liquidity and low-fee transactions.
As well as, the mission will incorporate the Aave V3 protocol for lending providers, which is able to permit customers to borrow stablecoins and different belongings utilizing collateral akin to USDC and Ethereum (ETH). Specifically, Aave will obtain a 7% allocation of WLFI provides to function a administration associate
Trump's involvement
Trump, who serves as “cryptocurrency's chief advocate,” has positioned the enterprise as a part of his broader imaginative and prescient to make the U.S. a pacesetter in digital belongings.
In the meantime, Eric and Donald Trump Jr. are selling the mission as “web3 ambassadors”, whereas Barron Trump is taken into account a “DeFi visionary”, additional highlighting the household's direct involvement.
With the US election simply three weeks away, market analysts have pointed to Trump's involvement as a possible increase for the crypto sector. His pro-crypto stance contrasts sharply with Democratic candidate Kamala Harris, who’s seen as much less supportive of digital belongings.
In response to prediction markets, Trump is at the moment main within the 2024 presidential race, with Polymarket exhibiting him at 54.9% odds in comparison with 44.6% for Harris.
