Trump’s World Liberty Financial Raises $11 Million in First Day of Token Sales Only

World Liberty Financial (WLF), the much-anticipated decentralized finance (DeFi) protocol backed by Donald Trump, kicked off its public token sale on Tuesday, raising approximately $11.49 million on the first day.

This figure represents about 3.8% of the protocol’s ambitious $300 million fundraising goal planned from the first token sale.

The numbers are below projections

At the time of writing, data from Dune Analytics reveals that approximately 766 million WLFI tokens had been sold at $0.015, generating approximately $11.49 million in sales. The project’s website also experienced intermittent outages as the sale went live.

These results fall short of the projections outlined in the WLF roadmap, which had planned to raise $300 million by selling 20% ​​of the WLFI token supply. It would have given the token a fully diluted market capitalization of $1.5 billion.

On Monday, co-founder Zak Folkman hosted a live stream at X Spaces, revealing that “over 100,000 people” had signed up for the whitelist since it opened on September 30.

However, even after Trump took X, urging his followers to buy the token, blockchain data shows that only 8,699 unique wallet addresses have WLFI so far.

In addition, some critics have criticized the Republican standard-bearer for focusing on the project with the US presidential election just weeks away.

More details about the project

The information in the WLF white paper, or the “golden paper” as it has been called, shows that the cryptocurrency will be available to accredited investors in the US, qualified investors in the UK and others globally.

In terms of distribution, 63% of the WLFI will be sold to the public, 17% will go to user rewards, and 20% will go to team compensation.

The roadmap also revealed that WLFI will function as a governance token, allowing holders to vote on decisions about the future of the platform. However, investors will not be able to transfer their tokens for at least one year after purchase.

The project will be developed in three phases. In the first chapter, WLF plans to launch a decentralized financial lending platform and then integrate it with exchanges in the second stage. This will allow users to manage on-ramps and off-ramps with on-chain Know Your Customer (KYC) protocols.

The final phase will focus on slicing off real-world assets and obtaining the necessary regulatory licenses.

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