On September 16, World Liberty Financial, the upcoming DeFi project from former US President Donald Trump's family, confirmed plans to hold a token sale.
Speaking live on the X program hosted by Farokh Sarmad, co-founder of Rug Radio, which garnered an audience of 648,000 people, Zach Folkman, World Liberty Financial's chief operating officer, said that WLFI will consist of managed tokens.
'The tokens...
will be,' Folkman said, 'WLFI tokens are purely management tokens that give you the right to make proposals and vote on the
read a prepared statement that said WLFI tokens are non-transferable and do not provide any dividends or other economic benefits to the owner. We want only people who actually plan to participate in the management of World Liberty Financial to buy the tokens,
'" Folkman added.
In the sales period, about 63% of WLFI will be distributed to accredited investors in the U. S. , 17% will be reserved for user fees and 20% for World Liberty Financial's team and advisors. Folkman emphasized that there are no pre-sales to investors.
Folkman said that for regulatory reasons, sales are only made to accredited investors. We do not consider WLFIs to be securities, but given the regulatory uncertainty surrounding tokens and their sale in the U. S. , we thought it would be prudent to limit the sale of tokens to certain persons who may engage in transactions exempt from registration under the U. S. federal securities laws,
' said Folkman.
Eric Trump said World Liberty Financial is committed to making #DeFi easier to use for "regular people.
Details about World Liberty Financial's platform remain unclear, but the project said on Sept. 3 that it is working with Aave, DeFi's largest money market protocol. The project has also emphasized its commitment to promoting the stub fund in the U. S. , suggesting that the platform will include a lending protocol specifically for the stub fund.
Trump also echoed the idea that the U. S.
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