World Liberty Financial, a DeFi project backed by the Trump family, has successfully secured over 100,000 accredited US investors for its WLFI token presale whitelist, set to take place on October 15. The project aims to raise $300 million, with a projected valuation of $1.5 billion, just ahead of the upcoming US presidential election, where former President Donald Trump is running as the Republican candidate.
During a X Spaces discussion on October 14, co-founders Zachary Folkman and Chase Herro outlined the platform’s core services, highlighting its goal of making DeFi more accessible in the long term. WLFI, positioned as a governance token, will enable users to engage in various DeFi activities such as borrowing, lending, liquidity creation, and stablecoin transactions. Non-US investors were carefully vetted to comply with local regulations before participating in the token presale, ensuring regulatory compliance for the platform.
The project’s governance model will prioritize DeFi, with all decisions aligned with US regulatory requirements. This commitment to regulatory compliance is crucial in gaining trust within the crypto industry. The WLFI token is designed to function within World Liberty Financial’s platform, integrating elements of Ethereum and Scroll to provide high liquidity and low-fee transactions. Additionally, the project will incorporate the Aave V3 protocol for lending services, allowing users to borrow stablecoins and other assets using collateral like USDC and Ethereum (ETH).
Former President Donald Trump’s involvement in World Liberty Financial serves as the project’s “chief crypto advocate,” aligning with his vision to position the US as a digital asset leader. Eric and Donald Trump Jr. are promoting the project as “web3 ambassadors,” while Barron Trump is recognized as the “DeFi visionary,” underlining the family’s direct participation in the venture. Trump’s support for the crypto sector is seen as a potential boost, particularly as he contrasts with Democratic candidate Kamala Harris, who is perceived to be less supportive of digital assets.
With the US election approaching, market analysts believe Trump’s involvement in World Liberty Financial could have a significant impact on the crypto sector. Prediction markets currently favor Trump in the 2024 presidential race, with Polymarket indicating 54.9% odds for him compared to 44.6% for Harris. As the project gears up for its token presale and launch, the Trump family’s backing and advocacy position World Liberty Financial as a key player in the evolving DeFi landscape, underlining the potential growth and impact of the platform in the crypto industry.
