As a seasoned crypto investor with over a decade of experience in this dynamic market, I must admit, my initial enthusiasm for World Liberty Financial (WLF) was high, given its backing by none other than Donald Trump. However, upon closer examination of the first day’s token sale results, I find myself somewhat underwhelmed.
On Tuesday, World Liberty Financial (WLF), an eagerly awaited decentralized finance (DeFi) project endorsed by Donald Trump, launched its public token offering. On its inaugural day, the initiative garnered around $11.49 million in investments.
Approximately 3.8% of the protocol’s aggressive $300 million fundraising goal from the initial token sale is symbolized by this figure.
Figures Fall Short of Projections
Currently, as we speak, Dune Analytics data indicates that about 766 million WLFI tokens were sold for a price of $0.015 each, resulting in approximately $11.49 million in total sales. It’s also been reported that the project’s website encountered occasional downtimes during the launch of the sale.
These results fall short of the projections outlined in the WLF’s roadmap, which had anticipated raising $300 million through the sale of 20% of the WLFI token supply. It would have given the token a fully diluted market capitalization of $1.5 billion.
On Monday, co-founder Zak Folkman conducted a live broadcast on X Spaces, disclosing that more than 100,000 individuals have registered for the whitelist since its launch on September 30.
Despite Trump promoting X, encouraging his supporters to purchase the token, blockchain records indicate that just 8,699 distinct wallet addresses currently own WLFI.
Moreover, certain critics have criticized the Republican nominee for prioritizing this project so close to the U.S. presidential election.
More Details on the Project
According to WLF’s highly regarded document, often referred to as the “gold paper,” the cryptocurrency is set to be accessible to accredited investors based in the United States, qualified investors from the UK, and other eligible individuals worldwide.
Approximately two-thirds (63%) of the WLFI tokens will be offered to the general public, while 17% will be reserved as incentives for users. Additionally, a portion of 20% will be designated for team compensation.
The plan further disclosed that WLFI serves as a governance token, empowering its owners to participate in votes concerning the platform’s future direction. Yet, it’s important to note that these tokens cannot be transferred for a period of one year following acquisition by investors.
The project is structured into three parts. Initially, we aim to introduce a decentralized lending platform for finance. Following this, we’ll connect it with various exchanges in the subsequent phase. This integration will empower users to manage onboarding and offboarding processes seamlessly using on-chain identity verification (KYC) protocols.
In the concluding stage, we’ll be concentrating on dividing tangible assets into smaller units and securing the essential legal permits for their operation.
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2024-10-16 20:46