World Liberty Financial (WLFI) Coin: Everything You Need to Know

Bittime - The World Liberty Financial (WLFI) token has been the talk of the town lately. Are you looking for everything about the WLFI token? Check out this article. 

What is World Liberty Financial?

World Liberty Financial is a DeFi project backed by US presidential candidate Donald Trump and members of his family, including Eric Trump, Donald Trump Jr., and Barron Trump. The project aims to strengthen the global status of the US dollar in the DeFi space.

Acquaintance with World Liberty Financial

According to the project, World Liberty Financial’s mission is “To make crypto and America great by driving mass adoption of stablecoins and decentralized finance.” The goal of the project is to ensure the dominance of stablecoins pegged to the US dollar, which is expected to remain the world's settlement layer for the next century, similar to how the US dollar has become the basis of global finance.

World Liberty Financial hasn't launched yet, but current developments suggest that the project will launch first as an Aave V3 instance. This means World Liberty Financial will serve as a marketplace for borrowing and lending cryptocurrency by leveraging Aave's infrastructure, as well as sharing protocol revenue with the Aave Decentralized Autonomous Organization (DAO).

WLFI Claims No Trump Family Members on Team 

Despite being endorsed by Donald Trump, World Liberty Financial's website states that no members of the Trump family or employees of the Trump Organization are involved on World Liberty Financial's board of directors. In exchange, the Trump family served as advisors to the project and were allocated approximately 22.5 billion WLFI tokens, as well as promising to receive fees for services provided to World Liberty Financial. 

Although users may be looking forward to Trump's presidential election in November, World Liberty Financial insists that their project is non-political and not related to any political campaign.

What is WLFI Token?

The WLFI token is the governance token of World Liberty Financial. Each token gives its holder one vote in community proposals on the governance platform. 

In contrast to other governance tokens such as UNI and MKR, WLFI does not grant economic rights, and World Liberty Financial is not a DAO. 

Most importantly, WLFI cannot be moved after purchase. This means that you cannot trade, exchange, or sell WLFI once you have purchased the token. 

There may be changes in the future through governance proposals, but it is assumed that these tokens will not be tradable in the near future.

Detail Token WLFI

• Total Token Supply: 100 Billion
• Token Type: ERC-20
• Network: Ethereum

WLFI Token Distribution

• 35% for token sales
• 32.5% for community growth and incentives
• 30% for early backers
• 2.5% for advisors and team members

Read too How to Buy World Liberty Financial (WLFI) Tokens, Here are the Steps!

World Liberty Financial Public Sale

Despite the illiquid nature of WLFI, the project's public sale launched on October 15, 2024 on the Ethereum mainnet with moderate success. There were a total of 20 billion tokens sold in this round (20% of the total supply), which can be purchased using USDC, USDT, and ETH. To date, 926 million tokens have been sold, raising a total of around $14 million.

Read too World Liberty Financial (WLFI): Everything You Need to Know

How to Buy World Liberty Financial (WLFI) Tokens

If you are interested in buying WLFI, here are the steps:

1. To participate in this public sale, users must go through a KYC process.

2. Although this project is supported by Trump and is aimed at strengthening the US dollar, currently American citizens are prohibited from participating in this project.

3. The KYC process requires a national ID as well as a facial recognition ID.

4. After completing the KYC process, your wallet will be eligible to purchase WLFI tokens in the public sale, which currently has a token price of $0.015. (23 October 2024)

Read too How to Buy World Liberty Financial (WLFI) Tokens, Here are the Steps!

Conclusion

Currently, not much is known about the World Liberty Financial project, as it has not yet officially launched. The future of the WLFI token appears ambiguous yet interesting, as it is the first DeFi governance token to launch with unusual characteristics – non-transferable and without economic rights. 

This is unprecedented in DeFi, as projects typically delay activating such features until they are ready, while still assuring users that economic rights will be a priority in the future. 

FAQ about World Liberty Financial (WLFI) Coin

What is World Liberty Financial (WLFI)? 

World Liberty Financial is a DeFi project backed by Donald Trump and his family, aiming to strengthen the US dollar's status in the DeFi space by driving the adoption of stablecoins and decentralized finance.

What differentiates the WLFI token from other governance tokens? 

The WLFI token is a governance token that does not confer economic rights on its holder and cannot be transferred after purchase. This means that users cannot trade or sell WLFI tokens after purchasing them.

How to buy WLFI tokens?

To purchase WLFI tokens, users must go through a KYC process that requires national ID and facial recognition. Currently, American citizens are prohibited from participating in this project, and the current price of the WLFI token (October 24, 2024) is $0.015.

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Reference

Loke Choon Khei, What Is World Liberty Financial? Donald Trump's Crypto Project, Accessed January 20, 2025

Author: IN