Trump-family endorsed World Liberty Financial (WLFI), which had been an open secret for a while, has confirmed its plan for a non-transferable governance token. During a live audio stream on the X platform, the team behind WLFI confirmed the news that they are in the process of introducing a governance token.
The team also stated that the WLFI token will not have any commercial rights or value. The non-transferable token will be available for purchasers who wish to participate in the governance process and not ones who wish to make a profit from it. 63% of the total token supply will be sold to the general public while 17% will be used for rewards, with 20% fixed for the team members.
As of now, the authorized sale of the token is not available as the token is under the Regulation D exemption from the Securities and Exchange Commission (SEC). Regulation D enables smaller businesses to sell securities without the need for a registration of their securities with the Securities and Exchange Commission. So far, the goal for WLFI seems to be “the mass adoption of stablecoins and decentralized finance,”
[4/7] Our mission is crystal clear: Make crypto and America great by driving the mass adoption of stablecoins and decentralized finance. We believe that DeFi is the future, and we’re committed to making it accessible and secure for everyone. 🌍💪
— WLFI (@worldlibertyfi) September 4, 2024
Zak Folkman, one of the founding members of WLFI, said “Our goal is to build projects that are easy and simple to use and where you don’t need to phone a friend to get a walkthrough”. While the team has not officially shared any date for the lift-off, it garnered massive support with 100,000 listeners in the live stream.
Trump’s newfound love for cryptocurrency has pooled in the interest of many fan followers who had almost predicted that Trump’s team would launch a token before the November elections, on Polymarket. Before the livestream, the odds of launching a token had increased to 80% which later tumbled down to 20%. Donald Trump-focused tokens such as FIGHT TO MAGA, a crypto memorabilia linked to the former president’s “Fight! Fight! Fight!” comments have hiked up 106.85% in just a day, post his second assassination attempt.
