Donald Trump’s Crypto Project To Have 63% WLFI Token Allocation to Public

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As a seasoned crypto investor with a knack for spotting potential in innovative projects, I must admit that Donald Trump’s foray into DeFi with World Liberty Financial has piqued my interest, albeit cautiously. The announcement of the WLFI token and its distribution pattern is intriguing, especially considering the 63% allocation to the public. However, the lack of details about the project’s functionality and purpose leaves much to be desired.

On Monday, Donald Trump, the Republican nominee for president, presented his long-anticipated DeFi crypto venture, named World Liberty Financial. Subsequently, it was disclosed that the project would include a unique WLFI token, though specifics about the project remained limited at that time.

Donald Trump’s World Liberty Financial WLFI Token Allocation

During a two-hour live stream yesterday, Donald Trump didn’t say much about his crypto project. But later on, one of the project leaders, Zak Folkman, disclosed that there will indeed be a digital token associated with the project.

In simpler terms, Folkman mentioned that the World Liberty Financial Project was open to selling unique WLFI tokens, which grant holders the authority to suggest ideas and vote on issues concerning the platform. These tokens do not allow for transfer of ownership.

Approximately two-thirds (63%) of the WLFI tokens are intended for public distribution, while another 17% will be set aside for public purposes. The remaining 20% is earmarked for public compensation.

63% of the X Spaces tokens will be sold to the public, 17% will be set aside for user rewards, and 20% will be allocated for team compensation.

— The Block Pro Headlines (@theblockupdates) September 17, 2024

Addressing Security Concerns

In his remarks about the unclear regulations regarding cryptocurrency tokens and their sales within the U.S., Folkman stated that WLFI has opted to limit token purchases to certain eligible buyers instead.

Though WLFI isn’t classified as a security, it’s wise to restrict sales only to those who meet the criteria for transactions that don’t require registration under U.S. federal securities law,” he noted. Consequently, Americans interested in these token sales must either qualify as accredited investors or go through a verification process.

Together with their fellow leader at World Liberty Financial, Chase Herro, Folkman explained that they’re figuring out how their platform intends to remove obstacles found within conventional financial systems.

Nevertheless, the initial response from the community towards the Donald Trump cryptocurrency initiative has been largely negative. Since his recent assassination attempt, President Trump announced the venture without providing extensive information on the DeFi project’s specifics or how it would function. The community’s dissatisfaction is clearly expressed in strong terms.

After more than two hours on this discussion about Trump’s cryptocurrency, they still haven’t explained how it functions. It’s disappointing to see the number of listeners drop from 150,000 to just 47,000. Such a missed chance for clarity!

— Wayne Vaughan (@WayneVaughan) September 17, 2024

Many attendees at the X Spaces unveiling of the World Liberty Financial initiative voiced their dissatisfaction due to a scarcity of detailed explanations regarding the platform’s true capabilities and operations.

As a crypto investor, I’ve come across speculations that a potential DeFi project from Donald Trump might follow suit with platforms like Dough Finance, allowing for peer-to-peer borrowing and lending opportunities.

In the ongoing political clash between Trump and Harris, cryptocurrency has become a significant focus. Most recently, XRP Healthcare, a startup community built on the XRP Ledger, has voiced its support for Donald Trump in the forthcoming presidential elections.

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2024-09-17 11:56