World Liberty Monetary, the DeFi undertaking backed by the Trump household, has secured over 100,000 accredited US traders for its WLFI token presale whitelist, scheduled for October 15.
The undertaking is anticipated to lift $300 million, with a projected valuation 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 a dialogue on X Areas on October 14, co-founders Zachary Folkman and Chase Herro described the platform's core providers, highlighting the platform's long-term objective of constructing 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 had been fastidiously screened to adjust to native rules earlier than collaborating within the token presale. A number of key figures from the crypto world attended the dialogue, together with Aave CEO Stani Kulechov and Scroll co-founder Sandy Peng.
The undertaking's governance mannequin will deal with DeFi, and all choices will likely be made in accordance with US regulatory necessities. This deal with regulatory compliance ensures that the platform stays a legally compliant operation, an essential step in gaining belief within the nascent crypto business.
The token is designed to work inside World Liberty Monetary's platform, which integrates components of Ethereum and Scroll to supply excessive liquidity and low-fee transactions.
Moreover, the undertaking will combine the Aave V3 protocol for lending providers, permitting customers to borrow stablecoins and different belongings utilizing collateral equivalent to USDC and Ethereum (ETH). Notably, Aave will obtain an allocation of seven% of WLFI's providing to function a governance accomplice
Trump's involvement
Trump, as “crypto's main advocate,” has positioned the corporate as a part of his broader imaginative and prescient to make the USA a frontrunner in digital belongings.
In the meantime, Eric and Donald Trump Jr. are selling the undertaking as “Web3 ambassadors”, whereas Barron Trump is credited because the “DeFi visionary”, additional highlighting the household's direct involvement.
With simply three weeks till the US elections, market analysts have highlighted Trump's involvement as a possible enhance for the crypto sector. Her pro-crypto stance stands in stark distinction to Democratic candidate Kamala Harris, who’s seen as much less supportive of digital belongings.
In keeping with prediction markets, Trump is at the moment main the 2024 presidential race, with Polymarket exhibiting him at 54.9% odds, in comparison with Harris's 44.6%.
