The DeFi project "World Liberty Financial" supported by the Trump family confirmed in an X online voice chat today that it will issue the governance token WLFI and shared information about token distribution and public sale.
Trump's opening speech
In this long X Spaces online event, Trump first expressed his views on cryptocurrency in his opening speech. Trump said his NFT project opened his eyes to the world of cryptocurrency and that he has made more than $7 million from selling NFT collectibles, a figure that shocked him.
"Cryptocurrency is big, but it's still in its infancy compared to what's ahead... I think my kids have been an eye-opener for me."
DeFi and WLFI Tokens
Then, Trump's eldest son, Trump Jr., and real estate developers Steve Witkoff and his son Zach Witkoff talked about the need to disrupt the loan market. "This is the beginning of the financial revolution," Trump Jr. said.
Subsequently, Zachary Folkman and Chase Herro, co-founders of Dough Finance and project leaders of World Liberty Financial, and Eric Trump took over to further discuss information related to World Liberty Financial.
Zachary Folkman confirmed that World Liberty Financial will be selling a non-transferable governance token called WLFI with no pre-sale, venture capital and early buy-in, with the majority of the supply (62.66%) to be sold in the upcoming Distributed in the public sale, a portion of the net proceeds from this sale will go into the projectâs multi-signature wallet treasury reserves.
WLFI tokens will be distributed as follows: 63% will be sold to the public, 17% will be used for user rewards, and 20% will be used for team compensation.
The task force also revealed that the sale of WLFI will be regulated by the U.S. Securities and Exchange Commission (SEC), and all purchasers of WLFI must meet U.S. review standards for qualified investors.
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