Buckle up, crypto enthusiasts! World Liberty Financial (WLF) has launched its much-hyped decentralized finance (DeFi) protocol, with a little celebrity backing from none other than Donald Trump himself. The excitement kicked off on Tuesday with the public sale of WLFI tokens. Day one saw a cool $11.49 million in sales, although that’s just a small slice of the $300 million pie they’re aiming for.
Dune Analytics is telling us that around 766 million tokens have already found new owners at a nifty price of $0.015 each. The rush was so intense, the project’s website had a few hiccups, struggling to keep up with the demand. But hey, who doesn’t love a good challenge, right?
Now, the goal was to raise $300 million, which would represent 20% of the WLFI token supply and give it a whopping $1.5 billion market cap. So far, they’re a bit off the mark, but Rome wasn’t built in a day, and neither is a crypto empire.
Co-founder Zak Folkman spilled the beans on a live stream, revealing that over 100,000 eager beavers had signed up for the whitelist since it opened on September 30. Despite Trump’s rallying cry on social media, blockchain data shows that only 8,699 unique wallets are currently holding WLFI tokens. Looks like we need a little more push to get those numbers up!
Critics are throwing some shade at Trump, wondering why he's diving into crypto waters with the U.S. presidential election looming. But hey, in the world of crypto, the clock ticks differently.
According to WLF's “gold paper” (because why settle for white?), the WLFI token is exclusive to accredited investors in the U.S. and qualified investors in the UK, with a global reach for others. The distribution plan sets aside 63% for the public, 17% for user rewards, and 20% for team compensation.
Hold onto your tokens, folks! Investors will need to hang tight for a year before they can transfer them. But there’s a silver lining – WLFI doubles as a governance token, giving holders a say in the platform's future.
The project is rolling out in three phases. First up is a decentralized finance lending platform. Then, they’ll mix things up with exchanges, offering on-ramping and off-ramping with on-chain KYC protocols. The grand finale? Fractionalizing real-world assets and snagging all the regulatory licenses needed to take the world by storm. Let's see where this journey takes us!
