The sale of World Liberty Financial’s (WLF) native token, WLFI, will go live on October 15.
This is according to U.S. Presidential candidate Donald Trump, whose family is fronting the venture.
X Spaces Slated for October 14
Trump made the announcement over the weekend in a post on X, where he urged followers to “help shape the future of finance.” He also noted that there would be an exclusive Spaces event on X, for people to learn more about the public sale.
According to the official WLF Telegram channel, the Spaces event will feature the project’s team, advisors, as well as some yet-unnamed VIP guests. The sale will be open to all those who qualify through WLF’s whitelist.
The politician launched the decentralized finance (DeFi) platform through the same medium on September 17, to some criticism. While the live event had initially attracted as many as 150,000 listeners, the number eventually dropped to 47,000, with many of those who logged off accusing the speakers of offering little substantive information about WLF.
A few weeks later, on October 10, the project submitted a proposal to the Aave governance forum to establish an instance on the network. If approved, the proposal will see Aave provide liquidity for WLF’s digital assets, including Ethereum (ETH), wrapped Bitcoin (WBTC), and an assortment of stablecoins. In return, AaveDAO will receive 7% of the WLFI supply as well as 20% of all protocol fees WLF generates.
The DeFi project is led by former Dough Finance employees Zachary Folkman and Chase Herro.
Project Looking to Raise $300 Million
WLF reportedly intends to raise up to $300 million via the token sale, giving it a valuation of $1.5 billion. The tokens will give holders the power to vote on various proposals regarding World Liberty Financial’s development.
Trump’s announcement of the WLFI token sale comes exactly three weeks before the culmination of the U.S. presidential race, in which crypto has emerged as a major issue.
The Republican flagbearer has made significant overtures to the crypto community, including a promise to fire current Securities and Exchange Commission (SEC) Chair Gary Gensler on his first day in office.
Gensler has become deeply unpopular in the crypto space due to what some feel is the agency’s overbearing enforcement actions against the industry on his watch.
Trump also promised to establish a Bitcoin (BTC) advisory council to help guide his administration’s policy on digital assets, especially the world’s biggest cryptocurrency by market capitalization.
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