Donald Trump, once regarded as anti-crypto, has become an avid lover of the crypto industry, embracing crypto as one of the major highlights of his election campaign. Trump has gotten publicly involved in a few crypto and NFT projects but has kept a tight lip regarding his latest one, “World Liberty Financial.”
In a Space X interview with crypto influencer Farokh Sarmad on September 16, Donald Trump made his first public appearance since his latest assassination attempt on September 15. The livestream event was tagged a “State of Crypto address.” Even though it took him about 16 minutes before talking about crypto, he eventually got to it.
Join me live from Mar-A-Lago at 8:00PM Eastern, tonight on X Spaces. Set a reminder and be sure to tune in! https://t.co/MXTu3hxVFP
— Donald J. Trump (@realDonaldTrump) September 16, 2024
His first words about Crypto were, “We’re going to make our country greater than ever before, and you’re going to be happy, and you’re going to love your crypto.” While everyone loved Trump’s optimism in his crypto pep talk, the former President did not share any information about World Liberty Financial throughout his 45-minute speech.
It was a bit of a letdown for the many fans of the self-acclaimed “crypto president” who tuned in to get a glimpse of his new project since details about it were already scarce. However, Trump’s team came to the rescue, specifically Zak Folkman, one of the “World Liberty Financial” project leaders who came out to say that “there will be a token.”
Just In: The World Liberty Financial team has confirmed the launch of the $WLFI token and its tokenomics$WLFI will be a non-transferable governance token.
— TylerD 🧙♂️ (@Tyler_Did_It) September 17, 2024
Tokenomics (approximate):
-63% allocation to a public sale
-17% for user rewards
-20% for team compensation
The announcement was made about two hours into the livestream. Folkman read from a written statement that the project was planning on selling non-transferrable WLFI tokens first. According to Folkman, these tokens will only be “pure governance” tokens and will only confer a right for the holders to make proposals and vote on matters related to the project.
Folkman’s announcement also included that the sale of WLFI tokens in the United States will be limited only to accredited investors. The sale of these tokens outside the United States would similarly be limited by what they called “limited restrictions.”
Other than the disappointing news that not everyone can buy WLFI tokens, Folkman also revealed that the token would have “approximately 63% set aside for sale to the public.” However, he did not mention the total supply of the token.
According to Folkman, there have not been any pre-sales or early buy-ins with discounted allocations for the WLFI tokens. However, he revealed that 20% of the tokens were already allocated to the platforms’s team and advisers, and the remaining 17% will be for user rewards.
Despite this information, an earlier reported white paper showed that about 70% of the WLFI token supply would be held aside for the team, while the rest was for public sale. We don’t know much about the WLFI platform, but it is reportedly built similarly to the Dough Finance platform.
Kataryna Habeliia
Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort, HODL FM strongly recommends contacting a qualified industry professional.
