As a seasoned analyst with over two decades of experience in finance and technology, I find myself intrigued by the latest development in the DeFi space – World Liberty Financial (WLF). The timing of its token sale, just three weeks before a pivotal U.S. presidential election where Donald Trump is a candidate, raises some eyebrows, to say the least.
On Tuesday, World Liberty Financial, a budding decentralized finance (DeFi) platform that has backing from Donald Trump and his family, disclosed its intention to commence token sales. This move comes precisely three weeks ahead of the upcoming presidential election in which Donald Trump represents the Republican party as their candidate.
The project announced that their public sale will begin on October 15th, welcoming all individuals who meet the requirements outlined in the whitelist, according to their social media update from this past Friday.
Participants in the forecasting platform Polymarket, which operates on blockchain technology, believe that Donald Trump is most likely to win the November 5th presidential election based on their predictions.
World Liberty Financial is led by Zachary Folkman and Chase Herro, individuals who have experience from the Decentralized Finance (DeFi) platform Dough Finance. Unfortunately, an exploit in July resulted in the loss of approximately $2 million worth of cryptocurrency assets from this platform.
The Trump family, headed by Donald Trump who was dubbed as the “Chief Crypto Advocate,” openly supported the project across social media platforms. Eric Trump and Donald Trump Jr., two of their sons, hold roles as “Web3 Ambassadors,” while Barron Trump is acknowledged as a “DeFi Visionary.
The project intends to gather a funding of $300 million through token sales, with an estimated total value of $1.5 billion, according to information from its roadmap as reported by The Block last Thursday. Notably, this upcoming token, named WLFI, is set to function as the protocol’s administrative token, granting users the ability to vote on decisions concerning the protocol’s growth and development, as detailed in the report.
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2024-10-11 22:09