Key Takeaways
- Approximately 9,000 investors have purchased over $11 million worth of WLFI so far.
- WLF aims to raise $300 million and hit a valuation of $1.5 billion.
- Paxos co-founder Rich Teo has come on board as the stablecoin lead.
World Liberty Financial has officially launched its WLFI token sale, though just over $11 million worth of tokens have been sold so far.
WLFI Token Sale
As per the latest figures from the WLF website, 754.57 million WLFI tokens have been sold for $0.015 per token, raising just over $11.3 million since officially going live on Oct. 15, 2024.
Having claimed to have over 100,000 investors whitelisted for the 20 billion WLFI token sale, Etherescan data shows that there are under 10,000 WLFI holders. With a view to raise $300 million from the sale, billions more WLFI tokens need to be sold.
Unverifiable Successes
The World Liberty Financial team gathered for an X Spaces chat on Oct. 14, where they spoke about crypto, decentralized finance (DeFi), politics, and occasionally project details.
Just over 866,000 people tuned in for the discussion in which Donald Trump Jr., as well as other co-founders and key figures such as Zak Folkman, Chase Herro, and Zach Witkoff, were present.
Among some considerable but unverifiable successes, the team announced during the session that Paxos co-founder Rich Teo would be joining as the team’s stablecoin and payments lead.
The team reiterated that World Liberty Financial is a DeFi platform focused on stablecoins and DeFi activities such as borrowing, lending, liquidity pools, and stablecoin payments.
World Liberty Financial will also incorporate the Aave V3 protocol for said services, allowing users to borrow stablecoins and leverage USD Coin (USDC), Ethereum (ETH), and other crypto as collateral.
Investors Sign Up
World Liberty Financial noted that over 100,000 accredited investors have been whitelisted for the WLFI token sale. To qualify, investors must have an annual income of at least $200,000 or over $1 million in assets.
The WLFI token will be an Ethereum-based ERC20 token. It is touted as the platform’s native governance token that grants voting rights.
According to multiple sources, the team hopes to raise $300 million through the public sale and aims to reach a $1.5 billion valuation post-funding. Users will be able to participate in governance, though their tokens can’t be transferred for the first year.
The platform’s lending, borrowing, and stablecoin transaction services will only be available for U.S. investors. It is unknown if or when this may change. The WLFI pre-sale is scheduled to take place at some point today.
DeFi’s Potential
Also present, Aave founder CEO, Stani Kulechov, spoke on the long road ahead for DeFi, explaining it could “take a decade at least for mainstream adoption,” explaining:
“[…]because it needs maturity, and hopefully, from Aave’s side, the goal is to make sure it’s the best available technology that everybody can use,”
Donald Trump Jr. highlighted that DeFi could remedy the “unreliable” banking system that has taken root in the U.S. He notes that if done right, DeFi can improve several areas of traditional finance and create a fairer financial system overall.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
