According to CoinDesk: The WLFI token sale by Trump-backed World Liberty Financial experienced a turbulent launch on Oct. 15, as the platform's website faced numerous outages shortly after going live. Despite the technical difficulties, the WLFI token attracted nearly 2,900 unique investors within the first hour.
WLFI Token Sale Attracts Millions Amid Outages
Launch Time: 12:40 UTC, Oct. 15
Tokens Sold: Over 344 million WLFI tokens to nearly 3,000 wallets in the first hour.
Blockchain Wallet Holdings:
$4 million in ETH
$1.2 million in USDT
$250,000 in USDC
World Liberty Financial: DeFi and Governance-Focused Platform
The WLFI token will act as a governance token for the World Liberty Financial platform, allowing users to engage in:
DeFi activities such as borrowing, lending, and liquidity pool creation
Stablecoin transactions aligned with U.S. regulations
Voting on governance decisions related to the platform's future development
Trump Family's Involvement in WLFI
Donald Trump: Chief Crypto Advocate
Eric and Donald Jr.: Web3 Ambassadors
Barron Trump: DeFi Visionary
The Trump family aims to leverage the global reach of their brand to bring Web2 users into Web3, as stated in WLFIās "gold paper".
Token Sale and Market Strategy
Total Tokens Released: 100 billion WLFI
Fundraising Goal: $300 million
Platform Valuation: $1.5 billion
World Liberty Financial had previously whitelisted over 100,000 accredited U.S. investors, ensuring compliance with SEC regulations.
Compliance and Token Lock Mechanism
WLFI tokens will remain non-transferable and locked in smart contracts, ensuring governance decisions comply with U.S. regulatory requirements.
The platformās mission aligns with supporting USD-backed stablecoins and promoting DeFi applications, aimed at maintaining the U.S. Dollar as the global reserve currency.
A Bumpy Start with Strong Market Interest
Despite technical glitches, the WLFI token sale reflects strong investor interest, driven by the Trump family's involvement and the platform's ambitious DeFi vision. As the platform navigates its early challenges, WLFI aims to position itself as a prominent player in the Web3 space, offering governance opportunities and stablecoin solutions to users globally.
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