World Liberty Financial to launch WLFI token sale on October 15, aiming to raise $300 million and expand DeFi offerings.
World Liberty Financial (WLF) is set to launch the public sale of its WLFI tokens on Tuesday, October 15. WLF is a decentralized finance (DeFi) project backed by former President Donald Trump and his family. The announcement was made on the X social media account. The project invited interested parties to a Twitter Spaces event on October 14 at 8 AM EST. The event aims to provide information to those interested in participating in the sale.
The project’s execution plan shows that the first sale of WLFI tokens is expected to fetch $300 million. In this phase, only 20% of tokens will be sold, with full dilution reaching a value of $1.5 billion. The whitelist for the sale began on September 30th. On the first day, the project claimed that thousands had registered on the whitelist.
WLFI Token Sale Allocates 63% to Public, 20% to Team
During the live stream last month, it was revealed that 63% of the WLFI tokens will be sold to the public, 17% will be given to users, and the remaining 20% will be given to the team. The WLFI token sale will be open to American customers who are considered accredited, UK customers who are deemed qualified, and those living in the rest of the world.
World Liberty Financial is owned and operated by Steve and Zach Witkoff, Zach Folkman, and Chase Herro. The team plans to popularize the use of digital assets by creating a fully compliant platform. In the first phase of its development, WLF intends to deploy an instance of the DeFi lending protocol Aave on the Ethereum main net and Scroll Layer 2.
The WLF team plans to launch Aave v3, allowing users to borrow or lend Ethereum (ETH), Wrapped Bitcoin (WBTC), and two stablecoins, USDC and USDT. Lenders will pay interest on the fees received by depositors. The team also intends to acquire more tokens that may not fit well within Ethereum’s main market.
However, the project has faced backlash since its launch phase, primarily from crypto enthusiasts and skeptics. Some have argued that the project might be negative. Others believe it could impact future cryptocurrency legislation, specifically if Trump wins the forthcoming presidency.
