World Liberty Financial (WLF), the highly anticipated decentralized finance (DeFi) protocol backed by Donald Trump, kicked off its public token sale on Tuesday, raising approximately $11.49 million on its first day.<\/p>\n
This figure represents around 3.8% of the protocol\u2019s ambitious $300 million fundraising target expected from the token\u2019s first sale.<\/p>\n
At the time of this writing, Dune Analytics data reveals<\/a> that approximately 766 million WLFI tokens had been sold at $0.015, generating around $11.49 million in sales. The project\u2019s website also reportedly experienced intermittent outages<\/a> as the sale went live.<\/p>\n These results fall short of the projections outlined in the WLF\u2019s 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.<\/p>\n On Monday, co-founder Zak Folkman hosted a live stream on X Spaces, revealing that \u201cwell over 100,000 people\u201d had signed up for the whitelist since it opened on September 30.<\/p>\n However, even after Trump took to X, urging<\/a> his followers to buy the token, blockchain data shows only 8,699 unique wallet addresses hold WLFI so far.<\/p>\n Additionally, some critics have castigated<\/a> the Republican flagbearer for focusing on the project with the U.S. presidential election only weeks away.<\/p>\n Information from WLF\u2019s whitepaper<\/a>, or the \u201cgold paper\u201d as it has been styled, shows that the cryptocurrency will be available to accredited investors in the U.S., qualified investors in the UK, and others globally.<\/p>\n In terms of distribution<\/a>, 63% of WLFI will be sold to the public, 17% will be set aside for user rewards, and 20% will be allocated for team compensation.<\/p>\n The roadmap also revealed that WLFI will function as a governance token, allowing holders to vote on decisions about the platform\u2019s future. However, investors will not be able to transfer their tokens for at least one year after purchase.<\/p>\n The project will unfold in three phases.\u00a0In the first chapter, WLF plans to\u00a0launch<\/a> a decentralized finance lending platform and then integrate it with exchanges in the second stage.<\/span>\u00a0This will enable users to handle on-ramping and off-ramping with on-chain know-your-customer (KYC) protocols.<\/p>\n The final phase will focus on fractionalizing real-world assets and obtaining the necessary regulatory licenses.<\/p>\n The post Trump\u2019s World Liberty Financial Raises Only $11M in First Day of Token Sales<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" World Liberty Financial (WLF), the highly anticipated decentralized finance (DeFi) protocol backed by Donald Trump, kicked off its public token sale on Tuesday, raising approximately $11.49 million on its first day. This figure represents around 3.8% of the protocol\u2019s ambitious $300 million fundraising target expected from the token\u2019s first sale. Figures Fall Short of Projections […]<\/p>\n","protected":false},"author":0,"featured_media":14330,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-14329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/14329"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14329"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/14329\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/14330"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}More Details on the Project<\/h2>\n