Donald Trump’s World Liberty Financial project raises $11,6 million in the WLFI token sale

What’s new? Donald Trump’s blockchain project World Liberty Financial has raised $11,6 million in the WLFI governance token sale that kicked off on October 15. Over 100 000 accredited investors were allowed to participate in the token sale, but at the time of writing, the number of WLFI holders totaled 8919. After the start of the token sale, the website experienced intermittent glitches.

Etherscan blockchain explorer data

What else is known? Ethereum holds 72% of the total amount of funds raised, with Tether’s USDT and Circle’s USDC and stablecoins holding 21% and 7%, respectively.

According to the roadmap presented to potential investors, the project was originally planned to raise $300 million during the token sale by selling 20% of the total offering of 100 billion WLFI at a fully diluted valuation (FDV) of $1,5 billion.

The 100 largest holders own 99,56% of the offering. The largest holder is the Gnosis Safe wallet, where 47,5% of tokens are concentrated. Another 19,2%, is stored in the distribution wallet at 0xe217E. 54,94% of tokens are stored in contracts and 0% in centralized exchanges (CEXs).

According to blockchain explorer Etherscan, the token’s decentralization rate is 2,12%, indicating a high level of concentration in the hands of a few holders. If the situation does not improve, this could have implications for the governance of the project.

Donald Trump’s World Liberty Financial DeFi protocol team has revealed details about the tokenomics of the project

As part of the launch, a tokensale will be held among accredited investors under the supervision of the securities regulator

Read more

According to the roadmap, WLFI is a governance token, it will be used in voting on decisions affecting the future development of the project. In addition, during the first year after purchase, the assets are protected from being transferred to third parties. Thus, at the moment only a small number of large holders have the opportunity to influence the project through voting.

The World Liberty Financial project is positioned as a decentralized financial platform providing an alternative to traditional banking services. Its co-founders are Steve and Zach Whitkoff, Zak Folkman, and Chase Herro. The project is promoted by Donald Trump, as well as his sons Donald Jr. and Eric.