World Liberty Monetary, the DeFi challenge backed by the Trump household, has secured over 100,000 accredited US traders for its WLFI token presale whitelist, scheduled for Oct 15.
The challenge is ready to lift $300 million, with a projected valuation of $1.5 billion. Its launch comes simply weeks earlier than the US presidential election, during which former President Donald Trump is working because the Republican candidate.
WLFI token pre-sale
Throughout an X Areas dialogue on Oct. 14, co-founders Zachary Folkman and Chase Herro outlined the platform’s core companies, emphasizing the platform’s long-term aim of creating DeFi extra accessible.
Positioned as a governance token, WLFI will enable customers to take part in DeFi actions, together with borrowing, lending, liquidity creation, and stablecoin transactions.
The 2 co-founders additionally confirmed that non-US traders have been rigorously vetted to adjust to native rules earlier than collaborating within the token presale. A number of key figures from the crypto area attended the dialogue, together with Aave CEO Stani Kulechov and Scroll co-founder Sandy Peng.
The challenge’s governance mannequin will deal with DeFi, with all choices made in step with US regulatory necessities. This deal with regulatory compliance ensures that the platform stays a legally compliant operation, a major step in gaining belief within the nascent crypto trade.
The token is designed to perform inside World Liberty Monetary’s platform, which integrates parts of Ethereum and Scroll to offer excessive liquidity and low-fee transactions.
Moreover, the challenge will incorporate the Aave V3 protocol for lending companies, permitting customers to borrow stablecoins and different belongings utilizing collateral resembling USDC and Ethereum (ETH). Notably, Aave will obtain a 7% allocation of the WLFI provide to function a governance associate
Trump’s involvement
Trump, serving because the “chief crypto advocate,” has positioned the enterprise as a part of his broader imaginative and prescient to make the US a pacesetter in digital belongings.
In the meantime, Eric and Donald Trump Jr. are selling the challenge as “web3 ambassadors,” whereas Barron Trump is credited because the “DeFi visionary,” additional highlighting the household’s direct involvement.
With simply three weeks left earlier than the US election, 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 keeping with prediction markets, Trump is at present main within the 2024 presidential race, with Polymarket exhibiting him at 54.9% odds in comparison with 44.6% for Harris.