Original article by: Mat Di Salvo
Original title: Trump Crypto Project World Liberty Financial Sets Token Sale Date
Original source: Decrypt
Compiled by: Koala, Mars Finance
World Liberty Financial, a DeFi project backed by Donald Trump, will launch its token sale to accredited investors on October 15.
It’s finally here: Former President Donald Trump’s decentralized finance project will launch its token sale next week.
World Liberty Financial, also known as X, announced in a post on Twitter on Friday that the public sale of tokens will begin on Tuesday, October 15. The sale will be open to those who qualify through a whitelist.
Potential clients can apply to be included in the whitelist starting in September. Currently, World Liberty Financial is only open to accredited investors in the United States, meaning investors with a net worth of at least $1 million, either individuals or partnerships (excluding the value of a primary residence), as defined by the U.S. Securities and Exchange Commission.
Accredited investors must also earn at least $200,000 a year (or $300,000 a year for a spouse or partner) for two years, with wage trends expected to continue this year, U.S. regulators said. The program does say it hopes to eventually open it to all Americans.
World Liberty Financial is an Ethereum-based decentralized finance (DeFi) project first announced in August by Donald Trump’s son Eric.
The team behind the project said last month in an exclusive interview with Decrypt sister company Rug Radio that it will offer cryptocurrency lending services.
On Thursday, the project published a blog explaining that it “aims to be the world’s one-stop shop for DeFi,” a complex and experimental sector of the crypto industry that hopes to use blockchain technology to replace traditional financial services.
The project aims to raise $300 million through a token sale at a valuation of $1.5 billion. The report added that the upcoming token, called WLFI, will be the protocol’s governance token and will allow users to vote on initiatives for the protocol’s development.
The project is set to launch on DeFi lending giant Aave’s v3 platform on the Ethereum mainnet to “provide liquidity for ether, wrapped bitcoin wBTC, stablecoins, and potentially other digital assets,” according to information released by Aave on Wednesday.
A typical example of a mature DeFi project is Uniswap, a decentralized exchange that anyone can use to exchange digital currencies and tokens. However, many DeFi projects are considered risky, and hacking attacks in the field are not uncommon.
Republican candidate Donald Trump has made it clear that he is a crypto-friendly candidate ahead of the November U.S. presidential election.
Trump, who once opposed the space and said he “doesn’t like” Bitcoin and cryptocurrencies, has since dabbled in NFT collectibles, even saying he wants all remaining Bitcoin to be mined in the United States.
He also said World Liberty Financial will "help make the United States the cryptocurrency capital of the world."
