The early sale of the WLFI token by World Liberty Financial, backed by the Trump family, raised millions in just a few hours despite the site crashing.
With the support of the Trump family, the project promises to revolutionize the decentralized finance (DeFi) sector. Let’s see all the details below.
WLFI: a new governance token for DeFi supported by the Trump family
As anticipated, the recent launch of the World Liberty Financial token WLFI, backed by the Trump family, has attracted a great deal of attention in the world of cryptocurrencies.
Specifically generating interest among both investors and in the decentralized finance sector (DeFi).
However, the launch was not without technical issues, as the platform’s website experienced numerous crashes during the first hours of the token sale, despite the significant success recorded in terms of investments.
The sale of the WLFI token was launched at 12:40 UTC, and, despite technical interruptions, almost 2,900 investors managed to participate.
According to blockchain data, over 344 million WLFI tokens were sold in the first hour, involving about 3,000 unique wallets.
This led to a collection of nearly 4 million dollars in ether (ETH), 1.2 million dollars in tether (USDT), and about 250,000 dollars in USD Coin (USDC), demonstrating the enormous interest generated by the project.
WLFI was conceived as a governance token, designed to play a crucial role in the World Liberty Financial platform.
Users who own WLFI will be able to actively participate in the governance of the platform, proposing and voting on future changes.
The project is positioned at the heart of the DeFi sector, offering the possibility to engage in decentralized financial activities such as lending, staking, and transactions with stablecoin.
The sale of the token has an ambitious goal: to raise 300 million dollars, with the company’s valuation set at 1.5 billion dollars.
The platform provides for the release of a total of 100 billion WLFI tokens on the Ethereum blockchain, with close supervision of U.S. regulations to ensure compliance with securities laws.
The support of the Trump family
A particularly interesting aspect of the project is the support of the Trump family, which has attracted the attention of the public and investors.
According to official statements, Donald Trump is the main supporter of cryptocurrencies for World Liberty Financial, while his sons, Eric and Donald Trump Jr., have been appointed “ambassadors of web3” for the project.
Barron Trump, the youngest son of the former president, holds the title of “visionary of DeFi,” testifying to the family’s commitment to the expansion of blockchain technologies and criptovalute.
The marketing strategy linked to the name Trump has clearly played a fundamental role in attracting global attention.
Furthermore, the World Liberty Financial platform aims to capitalize on this recognition to bring as many Web2 users as possible into the world of Web3.
World Liberty Financial is described as a unified financial platform that allows users to lend and borrow cryptocurrencies, create liquidity pools, and trade stablecoin.
Il token WLFI will be the engine of this platform, offering not only governance opportunities, but also concrete utility for its holders.
According to the “gold paper” published in conjunction with the launch, all WLFI issued will be temporarily locked in a wallet or in a smart contract until the completion of the token sale.
This system aims to ensure that all platform governance decisions are compliant with U.S. regulations.
Furthermore, the project places great emphasis on supporting stablecoins based on the US dollar. Thus, highlighting the importance of preserving the role of the dollar as a global reserve currency, while leveraging the advantages offered by decentralization.
Success despite technical challenges
As mentioned, despite the platform’s website experiencing numerous interruptions during the first hour of the sale, the launch of the WLFI token was an extraordinary success.
The technical problems did not discourage the investors. They continued to participate in large numbers, helping to raise millions of dollars in cryptocurrencies in a very short time.
One of the factors that contributed to the success was the whitelist of over 100,000 accredited investors in the United States. This ensured a constant flow of participants.
In the United States, accredited investors must meet specific income and net worth criteria to be authorized by the Securities and Exchange Commission (SEC) to invest in unregistered securities, such as pre-IPO shares.
This allowed the token sale to attract investors with a high financial capacity. Thus contributing to quickly reaching the initial fundraising goals.
World Liberty Financial has an ambitious mission. That is, to leverage the global recognition of the Trump brand and the family’s influence to introduce as many users as possible to the world of Web3.
With its focus on stablecoin and DeFi applications, the platform aims to offer a decentralized financial solution that keeps the US dollar at the center of global transactions. All this without compromising the freedoms offered by cryptocurrencies.
