WLFI launches a governance token under a Securities and Exchange Commission.
The WLFI token will be a non-transferable token that allows only accredited investors to participate.
World Liberty Financial (WLFI), a crypto project backed by the Trump family, confirmed its plans to launch a governance token during a live stream. The token will be offered under an SEC Regulation D exemption, Rule 506(c) allowing only accredited investors to participate.Unlike typical crypto tokens, the WLFI token will be non-transferable and won’t offer economic rights. It focuses solely on governance participation and is influenced by regulatory uncertainties in the U.S.
During the stream, which attracted over 100,000 listeners, the WLFI team revealed that 63% of the token supply will be sold to the public, with 17% reserved for user rewards, and 20% allocated to the team.
The project aims to offer decentralized finance (DeFi) services, such as borrowing and lending on the Ethereum blockchain. Steve Witkoff, a real estate investor and close ally of Donald Trump, introduced the Trump family to crypto entrepreneurs Zak Folkman and Chase Herro, leading to the formation of World Liberty Financial.
Trump Family Discusses DeFi Challenges and Future of Crypto
Donald Trump Jr. expressed his enthusiasm for DeFi, stating it aligns with the principles of fairness in the financial system. Eric Trump, however, noted that using platforms like Aave can be challenging for regular users. He also emphasized the need to make DeFi more accessible.
Though Donald Trump himself joined the event, he focused on his views about crypto’s role in the future rather than. He highlighted how his perspective on digital assets changed, after the success of his NFT collections. He added that,
“Crypto is something we have to do.”
World Liberty Financial’s token launch comes amidst regulatory challenges, with concerns that the project might complicate crypto regulation if Trump returns to office. However, the team plans to make WLFI user-friendly and secure, ensuring a fair token distribution without early buy-ins or venture capital involvement.
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