This initiative raised $12 million in just 30 hours. That’s just 4% of its $300 million goal.
The project, closely tied to Trump and his family, launched its initial token sale early Tuesday. While they’ve made a dent, the $12 million is far from the $300 million target they’re hoping to hit.
Trump’s Big Cut Token Sale and Major Holders
Trump stands to benefit greatly from this venture. He’ll receive 75% of all revenue, including the presale earnings. However, the first $30 million raised is set aside to cover expenses. Even though they’ve raised $12 million so far, they still have a long way to go before reaching their goal.
The WLFI token sale has been facilitated by the second-largest holder, who controls 20 billion tokens. This represents 20% of the total 100 billion supply. This wallet has distributed about 550 million WLFI to roughly 4,500 people, raising over $8 million in stablecoins and ETH, according to Etherscan.
30 hours in, Trump’s WLFI presale has raised $12m, 4% of its $300m target
Trump will get 75% of all revenue, including presale proceeds, but the first $30m is reserved for expenses
What went wrong?
How much would he have made with a pump fun? pic.twitter.com/TDVEp11MBk
— db (@tier10k) October 16, 2024
It’s important to note that the top 10 WLFI holders currently control 97% of the token supply . World Liberty Financial is trying to raise $300 million by selling 20% of its tokens, giving the project a total value of $1.5 billion, according to a roadmap shared with investors. However, with only $12 million raised so far, they’re still short of their goal.
Accredited Investors and WLFI’s Purpose
Zachary Folkman, an executive behind WLFI, hosted a live event where he revealed that over 100,000 accredited U.S. investors had been approved before the token sale began. These investors must have a net worth of more than $1 million (not counting their home) and at least $200,000 in yearly income.
https://t.co/ZxXKTAH9HD
— WLFI (@worldlibertyfi) October 14, 2024
The WLFI token is non-transferable and is meant to act as a governance token. This means holders will have a say in how the project is run, voting on rules, and other important matters. World Liberty Financial aims to be a platform for services like borrowing and lending, which would put it right in the mix of the DeFi world.
Looking Ahead
Just a week before the sale, the WLFI team proposed using Aave, a major DeFi lending platform, to help provide liquidity for stablecoins, ETH, and WBTC (Wrapped Bitcoin). They hope to bring more users to Aave and become part of the larger DeFi ecosystem.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
