Key Points:
Read more: World Liberty Financial Opens KYC For WLFI Token Sale
According to The Block, the sale is supposed to raise $300 million by selling 20% of the total token supply, valued at a fully diluted market cap of $1.5 billion. This is just the first sale, part of a broader strategy that may see additional offerings.
World Liberty Financial was co-founded by Steve and Zach Witkoff, Zak Folkman, and Chase Herro with the mission of creating mass adoption through a compliance-driven, regulatory alternative finance platform. Donald Trump is also the Chief Crypto Advocate, and his three sons are Ambassadors of Web3. The founding team also includes Luke Pearson from Polychain Capital and Corey Caplan from Dolomite.
The WLFI token is a governance token. As such, holders will have voting rights in the development of the platform. The tokens will be non-transferable for the initial 12 months, although a community vote may allow transfers before that. Governance capabilities are enabled right away and are unrelated to whether or not the token is transferable.
First, the project will deploy a DeFi lending platform like Aave, which has a core activity of lending and borrowing Bitcoin, Ether, and stablecoins. Further, WLFI plans to launch an integration with exchanges regarding trading via proof of on-chain know-your-customer agreements.
World Liberty Financial is accessible to U.S. accredited investors and UK-qualified investors. The plan is to expand access to international investors. The project has publicly denounced what it refers to as existing ‘onerous’ U.S. regulations blocking access to digital asset investments.
The plan for the future involves a stablecoin-centric credit card for real-world transactions, segmenting real-world assets for regulatory licensing that may involve hotels and sports clubs, and working on creating a stablecoin settlement platform.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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