Trump-Backed DeFi Project Aims to Raise $300M in First Token Sale

World Liberty Finance, a new decentralized finance (DeFi) venture linked to Donald Trump and his sons, is preparing to launch its first token sale next week.

The project aims to raise $300 million by offering 20% of its WLFI tokens, which would value the platform at $1.5 billion once fully diluted. The tokens will remain non-transferable for the first 12 months, even if community members vote otherwise.

The project’s roadmap indicates that an additional 63% of tokens will be made available in future public sales, while 17% is set aside for user rewards. The remaining 20% will go to the project’s team. WLFI holders will have voting rights from the start, even though the tokens will initially be locked.

Trump, now serving as the Chief Crypto Advocate for World Liberty Finance, has fully embraced digital assets, despite his previous skepticism. The project’s founders, including Steve and Zach Witkoff, aim to build a platform that drives broader adoption of digital assets. Notable figures like Luke Pearson of Polychain Capital and Corey Caplan of Dolomite are also involved in the initiative.

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The platform will launch on Aave’s DeFi lending protocol, allowing users to borrow and lend assets like Bitcoin and Ether. Aave’s governance is reviewing a proposal to allocate 7% of WLFI tokens for voting and liquidity, with 20% of the project’s fee revenue going to the Aave DAO.

Trump’s recent shift in crypto stance is noteworthy. Once a vocal critic, he now champions digital assets as part of his presidential campaign and has begun accepting cryptocurrency donations, further illustrating his newfound support.

Kosta Gushterov