YEREVAN (CoinChapter.com) — Donald Trump has announced the public sale of World Liberty Financial (WLF) tokens. The sale is scheduled to begin on Oct. 15, just three weeks before the U.S. presidential election. This marks the first time a U.S. presidential candidate has launched a crypto token sale so close to an election. The timing has raised concerns about possible conflicts of interest.
Trump Announces World Liberty Token Sale Date. Source: @realDonaldTrump World Liberty Financial Token Sale Set to Begin
The World Liberty Financial (WLF) token sale will soon offer WLFI tokens to the public. To start, 30% of the total tokens will be available for public purchase, while the remaining 70% will be reserved for insiders. In addition, the project aims to raise $537 million, and its total valuation stands at $1.8 billion. Furthermore, the sale is built on Aave’s DeFi protocol, allowing WLFI tokens to act as governance tokens. As a result, users will be able to vote on future development decisions, giving them direct input into the project’s direction.
The token sale is structured through Aave’s DeFi platform. It plans to provide liquidity for Ether (ETH), wrapped Bitcoin (wBTC), and other stablecoins. The project has pledged 7% of its tokens and 20% of future fees to Aave’s DAO.
Concerns Surrounding the Token Sale
The timing of this $1.8 billion token sale has raised questions due to its proximity to the election. Many have pointed to Donald Trump’s business history, casting doubt on the potential success of World Liberty Financial. Critics are also wary of the involvement of Zachary Folkman and Chase Herro, who were previously part of Dough Finance, a DeFi platform that lost $2 million in a July exploit.
Dough Finance Exploit Incident Summary. Source: Dough Finance
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