Trump-Backed World Liberty Financial Token Sale Progresses Slowly

Former President Donald Trump’s cryptocurrency venture, World Liberty Financial (WLFI), continues its token sale with modest progress since its launch on Tuesday, October 15, 2024. The latest figures show a gradual increase in sales, though still far from the project’s ambitious goals.

As of the most recent update, approximately 722.57 million WLFI tokens have been sold, with 19.277 billion tokens remaining available for purchase. The token price remains steady at $0.015 per unit, in line with the initial offering price.

Trump, who serves as the project’s “chief crypto advocate,” had announced the token sale on social media platform X, promoting cryptocurrency as “the future” and encouraging widespread adoption of blockchain technology. The WLFI token sale aims to raise $300 million by offering 20 billion tokens out of a total supply of 100 billion.

Despite the increase in sales since the launch, the current figures represent only about 3.6% of the total allocation for public sale. This suggests a slower uptake than initially anticipated, possibly due to the technical difficulties experienced during the early hours of the sale.

The token sale website, which suffered multiple outages on the first day due to high traffic, appears to have stabilized, allowing for a steady, albeit slow, increase in sales. The project had reported over 100,000 accredited U.S. investors pre-approved for participation before the launch, indicating significant initial interest.

World Liberty Financial positions itself as a decentralized finance (DeFi) platform, with WLFI serving as a governance token. The project’s “gold paper” outlines plans for users to engage in borrowing, lending, and other DeFi activities. Notably, all WLFI tokens will initially be non-transferable and locked in smart contracts.

The Trump family’s involvement remains a key feature of the project, with Donald Trump Jr., Eric Trump, and Barron Trump taking on roles as “web3 ambassadors” and “DeFi visionary” respectively.

The token sale continues to be restricted to non-U.S. persons and accredited U.S. investors, adhering to SEC regulations. The project’s website maintains a prominent warning about the tokens not being registered under U.S. securities laws.

As the sale progresses, the cryptocurrency community and political observers continue to watch closely. The relatively slow uptake raises questions about the project’s ability to meet its fundraising goals and its potential impact on the competitive DeFi landscape.