- The WLFI token sale, backed by Donald Trump, launched with a goal of $300M but has raised only $12.72M (4.43%).
- The WLFI token is priced at $0.015, with most buyers investing under $1K, and it has over 11,549 holders.
World Liberty Financial (WLFI), a new DeFi project backed by Donald Trump and his family, launched its token presale yesterday. Despite aiming to raise $300 million by offering 20 billion tokens, the project has only managed to raise about $12.72 million so far, selling around 848.06 million tokens, equivalent to just 4.43% of the goal.
The WLFI token sale started at 12:40 UTC but experienced major technical problems, causing the website to crash for a few hours. This made it difficult for many buyers to access the platform. However, the issues were resolved, and approx. 3,000 unique wallets participated within a few hours.
At the time of writing, WLFI tokens are priced at $0.015, and most buyers have invested less than $1,000 on average. Among the buyers, one wallet (0x2d2419e6252729121C70285b045da2557128A131) emerged as the largest purchaser, spending 351.3 ETH (worth about $903K) to buy 60.43 million WLFI tokens. According to Etherscan data, WLFI token has over 11,602 token holders, marking a 14.36% increase in the past 24 hours.
WLFI Token and Its Implications for the 2024 Presidential Race
Former U.S. President Donald Trump’s launch of WLFI marked the first time a U.S. presidential candidate has introduced a cryptocurrency directly linked to their political campaign.
The WLFI token is a governance token for DeFi activities, built on the Ethereum network as an ERC-20 token with a total supply of 100 billion. It allows users to participate in borrowing, lending, and creating liquidity pools on the platform. Interestingly, Trump’s team has reserved 30% of the token supply, worth $300 million, for public sale, while they will use the remaining 70% for insiders and DeFi partnerships.
However, all WLFI tokens from Trump are non-transferable and will remain indefinitely locked in a wallet or smart contract. That means they cannot be traded or sold on other markets. This has discouraged some investors who prefer the option to sell.
Moreover, the presale comes three weeks before the 2024 U.S. presidential election. After years of skepticism towards the crypto industry, Trump shifted his stance and publicly supported Bitcoin in several speeches.
As of October 17, Trump is leading in the race for the November elections. On Polymarket, a crypto-based prediction platform, Trump holds a 59.5% lead, while Kamala Harris is in second place with 40.3% among crypto bettors.
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