The World Liberty Financial crypto project, with the support of Donald Trump, announced that they have attracted over 100,000 registrations before the public launch of their Token on Tuesday, October 15.
In a over 90-minute X conversation on October 14, with familiar information, the platform's operations lead, Zak Folkman, announced that the WLFI Token will be an ERC-20 Token based on Ethereum and emphasized that it will serve as the governance asset of the DeFi platform.
Folkman, along with other World Liberty Financial team members Chase Herro and Zach Witkoff, reiterated information shared in an October 11 blog post, that the platform will allow users to borrow and lend cryptocurrencies, create and interact with liquidity pools, and trade with Stablecoins.
Source: World Liberty Financial
In the United States, the platform will only be open to accredited investors — those approved by the Securities and Exchange Commission to invest in unregistered securities and typically need to earn over $200,000 per year and own over $1 million in assets.
Herro also announced that Rich Teo, co-founder of Paxos, will join the team as the lead for stablecoin and payments of the project.
In a previous X conversation to launch the project, Folkman explained that 63% of the WLFI Tokens will be sold to whitelist members on October 15, while 17% will be allocated for user rewards and 20% will be paid to the team.
According to a leaked Whitepaper, the WLFI Token will not be transferable for 12 months from distribution, however, it can be used immediately by owners to participate in governance votes.
The Whitepaper also shows the project intends to raise $300 million from the Token Sale, putting it at a valuation of around $1.5 billion.
The conversation also featured a brief appearance from Stani Kulechov, CEO and founder of Aave, who expressed he was "excited and happy" to see World Liberty Financial utilizing Aave for its lending and borrowing functions.
In a brief statement about the conversation, Donald Trump Jr. — listed as the project's "Web3 Ambassador" — praised World Liberty Financial for introducing a fairer financial system for the common people and criticized the U.S. banking system as a "giant Ponzi scheme".
The World Liberty Financial platform will start as a DeFi lending platform, with an October 9 proposal confirming it will launch as an Aave application on the Ethereum network, with plans to further expand to the Ethereum layer-2 network Scroll.
The WLFI Token Sale will begin exactly three weeks before the U.S. election on November 5.
Trump, the Republican presidential candidate, has pledged to establish the U.S. as the "crypto capital" of the world if he wins in November.
Trump leads opponent Kamala Harris by 9% on the decentralized betting platform Polymarket, while Harris leads Trump by 2.4% in national polls, according to FiveThirtyEight data.
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