World Liberty Financial, a crypto project endorsed by the Trump family, has announced plans to launch a governance token called WLFI. This token will be non-transferable and will only be offered to accredited investors under an SEC Regulation D exemption. The team cited regulatory uncertainty in the U.S. as the reason for this decision.
During an X Spaces live audio stream, team members behind the World Liberty Financial crypto project confirmed the launch of the WLFI token. The token will not provide any economic rights and will be exclusively for participants in governance. Approximately 63% of the token will be sold to the public, with 17% reserved for user rewards and 20% allocated to the team.
CoinDesk previously reported some details of the project based on a draft white paper. The team emphasized their focus on creating projects that are user-friendly and do not require extensive guidance for operation. Zak Folkman, one of the project’s founders, stated, “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.”
The team did not provide a specific launch date for the token during the live stream, which attracted over 100,000 listeners. A Polymarket contract related to the project’s token launch saw fluctuations in market sentiment, reaching over 80% for the “Yes” side at one point but dropping to as low as 22% by the end of the stream.
Several members of the Trump family participated in the discussion during the live stream. Donald Trump Jr. expressed his support for DeFi, stating that it aligns with the principles of fairness in the financial system. Eric Trump highlighted the need for DeFi to be more accessible to everyday users, referencing his own challenges with using decentralized lending platforms.
Former President Donald Trump joined the X Spaces session briefly, focusing on broader crypto policy developments rather than discussing the specific project. He emphasized the importance of embracing cryptocurrency despite any personal reservations.
A separate Polymarket contract allowed users to bet on what Trump would mention during the stream. While he did not reference specific cryptocurrencies like Solana or Dogecoin, Trump did mention “Crypto” multiple times and made a passing reference to “NFT.”
Overall, the World Liberty Financial project aims to leverage the support of the Trump family to promote blockchain technology and decentralized finance. By offering a governance token to accredited investors, the project seeks to navigate regulatory challenges while engaging participants in the governance process.
With the growing interest in cryptocurrency and blockchain technology, initiatives like World Liberty Financial are poised to shape the future of finance and digital assets. As the project continues to develop, it will be interesting to see how the Trump family’s involvement influences its trajectory in the crypto space.