World Liberty Financial, the Trump family-backed DeFi project, has secured more than 100,000 accredited investors in the United States for its WLFI token presale, scheduled for October 15.
The project is expected to raise $300 million, at an expected valuation of $1.5 billion. The launch comes just weeks before the US presidential election, in which former President Donald Trump is running as the Republican candidate.
WLFI Token Presale
During an X Spaces discussion on October 14, co-founders Zachary Folkman and Chase Herro outlined the platformâs core services, emphasizing the platformâs long-term goal of making DeFi more accessible.
Positioned as a governance token, WLFI will allow users to participate in DeFi activities, including borrowing, lending, liquidity generation, and stablecoin trading.
The two co-founders also confirmed that non-US investors were carefully vetted to comply with local regulations before participating in the token presale. Several key figures in the crypto space attended the discussion, including Aave CEO Stani Kulechov and Scroll co-founder Sandy Peng.
The projectâs governance model will be focused on DeFi, with all decisions made in line with U.S. regulatory requirements. This focus on regulatory compliance ensures that the platform remains a legally compliant operation, a major step in gaining trust in the nascent cryptocurrency industry.
The token is designed to operate within World Liberty Financial's platform, integrating elements of Ethereum and Scroll to provide high liquidity and low-fee trading.
Additionally, the project will incorporate the Aave V3 protocol for lending services, allowing users to borrow stablecoins and other assets using collateral such as USDC and Ethereum (ETH). Notably, Aave will receive 7% of the WLFI supply allocation for serving as a governance partner.
Trump's involvement
Trump, as a âtop crypto advocate,â has positioned the project as part of his broader vision to make the United States a leader in digital assets.
Meanwhile, Eric and Donald Trump Jr. are promoting the project as âweb3 ambassadors,â while Barron Trump is considered a âDeFi visionary,â further highlighting the familyâs direct involvement.
With just three weeks to go until the US election, market analysts have pointed to Trumpâs involvement as a potential boost for the crypto industry. His pro-crypto stance contrasts sharply with Democratic candidate Kamala Harris, who is seen as less supportive of digital assets.
According to prediction markets, Trump currently has a lead in the 2024 presidential race, with Polymarket showing him with odds of 54.9% compared to Harris's 44.6%.
