The DeFi project led by the Trump family - 'World Liberty Financial' launched the WLFI token sale last month. Although the market response has been tepid and buying interest low, the unrealized gains on the books have reached $1 million.
World Liberty Financial originally set a fundraising goal of $300 million, but due to investor demand falling short of expectations, the goal was significantly lowered to $30 million on October 31. So far, the project has sold approximately 1.02 billion tokens, achieving about half of the new goal.
However, this is not entirely a doomsday scenario for World Liberty Financial, as in the past two days, Ethereum (ETH) has surged over 16%, increasing the book value of the Ethereum raised by the project from $15.3 million to $16.25 million.
Etherscan data shows that World Liberty Financial's token sale wallet has not sold any tokens yet, currently holding 4,234 Ethereum and stablecoins worth $4.2 million.
Ethereum is currently trading at $2,916, the highest level since August, as the cryptocurrency market has recently surged, celebrating Trump’s victory in the U.S. presidential election.
However, one of the main issues for World Liberty Financial is that WLFI tokens are 'non-transferable', meaning investors cannot liquidate the tokens or exchange them for other assets to profit. While this restriction may be relaxed in the future through community governance voting, there is currently no specific timeline.
Additionally, the WLFI token sale has noticeably slowed down, having sold only $364,000 worth of tokens since November 1.
"Ethereum’s surge helps! Trump’s DeFi project benefits, with $1 million in unrealized profits" this article was first published on (Blockke).
