World Liberty Financial Claims Over 100,000 Registrations

Donald Trump's crypto project, World Liberty Financial, announced that it has secured more than 100,000 sign-ups ahead of the public launch of its token on October 15. The project also welcomed Paxos co-founder Rich Teo as the head of stablecoin and payment operations.

WLFI Token to Launch on Ethereum

During a 90-minute session on October 14, which revealed little new information, Zak Folkman, the head of platform operations, confirmed that the WLFI token will be an ERC-20 token built on Ethereum. The token will serve as a governance asset for the decentralized finance (DeFi) platform.
Team members Chase Herro and Zach Witkoff reiterated that the platform will allow users to borrow and lend cryptocurrencies, work with liquidity pools, and trade stablecoins.

Platform Available Only to Accredited Investors

In the United States, the platform will be accessible only to accredited investors. These are individuals who meet the criteria set by the U.S. Securities and Exchange Commission (SEC), typically earning more than $200,000 per year or holding assets exceeding $1 million.

Rich Teo from Paxos Joins the Project

Chase Herro also announced that Rich Teo, co-founder of Paxos, has joined the team as the head of the stablecoin and payment division.

WLFI Token Distribution

Folkman explained that 63% of the #WLFI tokens will be sold to the public during the public sale on October 15, 17% will be allocated for user rewards, and 20% will go to the team. According to a leaked white paper, the token will be non-transferable for 12 months, but holders will be able to participate in governance voting immediately.

Goal: Raise $300 Million

The white paper also revealed that the project aims to raise $300 million through the token sale, which would bring the project's valuation to approximately $1.5 billion.

Aave CEO Stani Kulechov Excited About Lending Features

Aave CEO and founder Stani Kulechov made a brief appearance during the session and expressed his excitement that World Liberty Financial will use Aave for its lending features.

Trump Jr. on a Fairer Financial System

Donald Trump Jr., listed as the project’s "Web3 Ambassador," also spoke briefly, praising World Liberty Financial for its efforts to bring a fairer financial system to everyday citizens. He also criticized the U.S. banking system, calling it a "giant Ponzi scheme."

Platform Expansion Plans

World Liberty Financial will initially operate as a #DEFİ lending platform, launching as an Aave instance on the Ethereum network, with future plans to expand into the Ethereum Layer-2 network, Scroll.

Token Sale After U.S. Elections

The sale of WLFI tokens will begin three weeks after the U.S. elections, scheduled for November 5.

Trump Pledges to Make the U.S. "Crypto Capital of the World"

Former President Donald Trump, who is running as the Republican presidential candidate, promised that if he wins the election in November, he will establish the U.S. as the "crypto capital of the world." Currently, Trump leads Kamala Harris by 9% on the decentralized betting platform Polymarket, while Harris leads Trump by 2.4% in national polling data from FiveThirtyEight.

#donaldtrump , #WorldLibertyFinancial , #cryptoproject

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!

Notice:

,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“