The ERC20-based token will be available for purchase on the WLF website, which has seen a surge in interest with over 100,000 signups since its launch.
World Liberty Financial (WLF) recently hosted a live webcast to provide updates on its decentralized finance (DeFi) technology ahead of its public token launch.
Co-founder Zak Folkman emphasized the project’s inspiration, stating, “This was all inspired by the ideals and the vision of Donald J. Trump.”
The WLF token, an ERC20-based cryptocurrency, will be available for purchase through the WLF website. The public distribution will see 63% of the tokens available for sale, with the remaining allocated to user rewards and team compensation. The initial token sale aims to raise $300 million, valuing the project at a fully diluted $1.5 billion.
Accredited investors in the U.S., qualified investors in the UK, and investors in other regions will be able to participate in the sale, which begins on October 15. A “gold paper” outlining the project’s vision and roadmap will also be released.
Stani Kulechov, founder and CEO of Aave, discussed the mainstream adoption of DeFi, stating that it would likely take at least a decade. He added that Aave’s goal is to develop accessible technology for everyone.
WLF plans to connect with exchanges to simplify the movement of crypto assets on and off the platform, using on-chain KYC verification. The project also aims to tokenize real-world assets and obtain regulatory approvals to streamline the process.
Paxos co-founder Rich Teo has joined the World Liberty Financial team to lead its stablecoin and payments division.
Donald Trump Jr. has been a vocal supporter of the project, promoting DeFi as the future and criticizing traditional banks. In the live stream, he highlighted DeFi’s potential to provide cheaper loans and address the shortcomings of the U.S. banking system. He also encouraged the crypto community to vote in the upcoming elections, emphasizing the need for clear regulations for projects like WLF.
While the project has gained attention, it has also faced criticism. Rep. Wiley Nickel questioned Donald Trump’s involvement, suggesting a political focus rather than real crypto innovation. Nickel warned that Trump’s role could hinder bipartisan efforts to create a secure and regulated digital asset future.