World Liberty Financial, the cryptocurrency project backed by Donald Trump, will start the sales of its official WLFI tokens on Tuesday, October 15. All the investors included in the whitelist will be eligible to purchase tokens.
Accredited investors in the US who have a net worth of at least $1 million individually or as a partnership, are included in the whitelist. The strategic placement of the token sale now is aimed at winning the upcoming US presidential elections.
Accredited Investors
Accredited investors are included in the whitelist of eligible investors who can purchase the World Liberty Financial token during the token sale.
The US Securities and Exchange Commission (SEC) has classified accredited investors as those investors who have a net worth of at least $1 million individually or as a partnership.
They should also have had an annual income of at least $200,000—$300,000 combined with the income of a spouse or partner for the past two years as well as in the current year.
More About World Liberty Financial
The World Liberty Financial project aims at providing lending and borrowing services initially to accredited investors and eventually to all Americans. As per a recent blog post, World Liberty Financial aims to become the one-stop shop for DeFi across the globe.
It intends to experiment and bring innovations to the world’s traditional financial system by introducing the possibilities of blockchain technology.
World Liberty Financial coin is proposed to be a stablecoin pegged to the US dollar. The Trump family is involved in the establishment and development of the WLFI tokens with Donald Trump being its chief advocate and his sons being the chief visionaries.
The launch of the World Liberty Financial (WLFI) token at this particular time is part of Donald Trump’s strategic move to gain the favour of crypto users in the United States.
Crypto users and enthusiasts comprise a significant share of the voters in America. Trump is right in eying these voters to win the elections.
The tokenomics of the WLFI tokens is divided in such a way that 63% of the total supply will be available for the public, 17% will be set aside for user rewards, and 20% will be set aside for the founders of the WLFI platform.
WLFI Token: Public Reception
The US investors are aware that the WLFI tokens are part of the election gimmicks of Donald Trump. Trump is well aware of the power of crypto users in determining the results of the upcoming elections and has decided to leverage the maximum out of it.
Trump, who was not a crypto enthusiast in the beginning, soon shifted his stance given his political gain. Even though US citizens are convinced of the motive behind Trump’s WLFI tokens, there are some red flags regarding the tokens that are confusing them.
Several of the team members involved in the making of the WLFI tokens were also part of a DeFi project by Dough Finance that cryptocurrency hack worth $2 million in July.
There are also several ethical concerns raised against the WLFI tokens. If Trump’s aim behind the formation of the WLFI tokens is to win the election, there is a chance that he may influence regulatory organizations to formulate laws in favour of building his business.
The future of the World Liberty Financial (WLFI) tokens will be uncertain if the election results are against Trump. The Democratic faction is against the crypto adoption. This is also a reason why many investors are backing out of investing in WLFI.
Moreover, the lack of a proper website or whitepaper for the WLFI platform is keeping investors in the dark.
The public is generally sceptical about the adoption of this coin, even though Trump’s effort at creating a cryptocurrency trading platform is largely appreciated.
The Bottom Line
With the launch of the token sale of WLFI tokens, the World Liberty Financial platform has taken the next step in its development. Apart from its utility as a cryptocurrency, WLFI tokens will also allow the holders to hold governance rights over the platform.
However, you should invest in the WLFI tokens only after considering all aspects of the token and its other use cases.
