New York, Tuesday, October 15, 2024-World Liberty Financial, a decentralized finance (DeFi) project linked to Donald Trump, is set to raise $300 million through an initial token sale, according to a roadmap seen by The Block.
The sale will offer 20% of the token supply at a $1.5 billion valuation, with tokens being non-transferable for 12 months.
The project plans to release its governance token, WLFI, which will allow holders to vote on the platform’s future development. While the tokens will not be tradable for the first year, governance features will be activated immediately.
World Liberty Financial aims to integrate DeFi lending protocols, starting with a version of Aave on the Ethereum Layer 2 network Scroll. The platform will enable lending and borrowing of tokens like Bitcoin, Ether, and stablecoins. The roadmap indicates plans to expand with additional token sales in the future.
The project, co-founded by Steve and Zach Witkoff, positions itself as a leader in crypto adoption, featuring Donald Trump as its Chief Crypto Advocate and his sons as Web3 Ambassadors.
World Liberty Financial has drawn attention for its ambitious mission to integrate digital assets into real-world finance, including launching stablecoin-focused credit cards and fractionalizing real-world assets.
The token sale is slated to begin next week, with participation limited to accredited and qualified investors in the U.S. and the UK.
