Trump-Endorsed Crypto Project Confirms Governance Token, WLFI!

World Liberty Financial, a crypto project tied to the Trump family, reveals its non-transferable governance token under SEC Regulation D exemption.

The Trump family-endorsed crypto project, World Liberty Financial, confirmed its plans to launch a governance token named WLFI during a live X Spaces session, attended by over 100,000 listeners. The project, which has garnered attention due to its association with former President Donald Trump and his sons, aims to offer a non-transferable token available only to accredited investors under the SEC’s Regulation D exemption.

Unlike many cryptocurrency tokens, WLFI will not provide economic benefits to its holders. Instead, the token’s main utility will be for governance, ensuring that only participants who are genuinely interested in the project’s decision-making process are involved.

Zak Folkman, one of the project’s founders, emphasized during the stream, “Our goal is to build projects that are easy and simple to use and where you don’t need to phone a friend to get a walkthrough.” He pointed to the project’s commitment to user-friendly experiences, in contrast to the complexity often associated with DeFi (decentralized finance) projects.

The project plans to sell 63% of the tokens to the public, with the remaining 17% set aside for user rewards and 20% allocated to the team. As of now, no launch date has been set, leaving many in the community eager for further details.

During the session, Trump family members including Donald Trump Jr. and Eric Trump shared their enthusiasm for decentralized finance. Trump Jr. praised DeFi for restoring fairness to the financial system, stating, “Venture Capitalists are flipping sides over crypto,” and mentioning key figures like David Sacks and Elon Musk. Eric Trump echoed similar sentiments, highlighting the importance of simplifying DeFi for everyday users.

While former President Donald Trump made an appearance during the first 40 minutes of the session, he focused primarily on broader crypto-related public policy rather than the specifics of the WLFI project. Trump remarked, “Crypto’s one of those things we have to do, whether we like it or not.”

Meanwhile, Polymarket, a crypto betting platform, saw a spike in bets regarding whether Trump would launch a cryptocurrency token before the 2024 election. The market for “Yes” peaked at over 80% but dropped to 22% by the end of the session, as the project’s non-transferable governance token did not meet expectations for a more traditional coin launch.

As the project continues to unfold, the Trump family’s involvement in the evolving world of decentralized finance adds a new layer of intrigue to both the crypto industry and the political landscape.

photo source / Blockonome