The debut token sale for the Trump family’s cryptocurrency project, World Liberty Financial, has been stalled so far, with the number of tokens sold reaching just over 3.4% of its $300 million target after its website crashed.
Sales of the platform token, WLFI, began on October 15, with 20 billion tokens available to the public at a price of 1.5 cents each. However, after 14 hours, 687 million units were sold, worth approximately $10.3 million.
According to Etherscan data, there are only 6,832 unique wallet addresses holding WLFI. This is far short of the more than 100,000 signups the project team saw a day before the token launch.
World Liberty Financial’s website shows that WLFI tokens are well short of the $300 million it set as a public sale target. Source: World Liberty Financial
World Liberty Financial’s website also went down shortly after the token sale began and was unavailable for several hours due to heavy traffic, with some observers receiving a “website undergoing maintenance” notification when trying to access the site.
According to the project’s white paper (dubbed the “Gold Paper”) released on October 15, the total supply of WLFI will be 100 billion tokens, of which 35% will be distributed in a token sale to eligible participants.
Donald Trump’s sons, Eric, Barron and Donald Trump Jr., are listed as “Web3 Ambassadors” on the platform.
Republican presidential candidate Trump, who was named the platform’s “top cryptocurrency advocate” in a white paper, closed a token sale through X on October 15.
He said in the video, “Cryptocurrency is the future. “Let’s embrace this amazing technology and lead the world in the digital economy.”
Today is the day! @WorldLibertyFi Token sale is underway. your $WLFI Token now. purchase $WLFI Here: https://t.co/jg1tOaHHBy pic.twitter.com/j8ewxa13wp
— Donald J. Trump (@realDonaldTrump) October 15, 2024
In the United States, the tokens and platform are available only to accredited investors, that is, investors authorized by the Securities and Exchange Commission to invest in unregistered securities, who generally earn more than $200,000 per year and have assets of more than $1 million.
The WLFI token is non-tradable but will serve as the governance token for the upcoming Ethereum-based decentralized finance (DeFi) platform.
relevant: Trump Cryptocurrency Project Proposes Aave Link to Governance Proposal
World Liberty Financial plans to run as an instance of the popular DeFi protocol Aave, according to a governance proposal submitted to the protocol earlier this month.
Of the remaining WLFI tokens not set aside for the public, 32.5% will be allocated to community growth and incentives, 30% will be allocated to “initial supporter allocation”, and 2.5% will be allocated to teams and advisors.
At the October 14th I confirmed that it exists.
magazine: 10 Cryptography Theories You Missed as Much as ‘Peter Todd is Satoshi’