Donald Trump’s Crypto Coin: WLFI Token and Whitelist
Donald Trump is back in the news, this time with his own cryptocurrency project, World Liberty Financial (WLFI). The project, reportedly endorsed by the Trump family, is being built on the Ethereum blockchain and is aiming to shake up the DeFi space.
WLFI Token and Whitelist
The project recently confirmed its WLFI token, which will be non-transferable and not earn yield, making it exempt from SEC securities laws. However, the project is currently only open to accredited investors in the US and overseas. This means only those with a net worth of $1 million or an annual income of $200,000 can participate in the whitelist.
The project has stated that they are not “turning their backs on the everyday American” and aim to bring financial freedom to everyone in the future. It remains to be seen how they will achieve this given the current limitations.
Controversy and Similarities
Critics in the crypto ecosystem have pointed out similarities between the project and the DeFi lending protocol Aave. A Coindesk report even suggests that World Liberty Financial is a fork of the recently hacked Dough Finance project, which also relies on Aave protocol.
The project’s team includes key members from Dough Finance, including Zachary Folkman, Chase ‘Hero’ Herro, Octavian Lojnita, and “0xboga.” While these connections might raise some eyebrows, it’s important to remember that this is a developing project and only time will tell how it performs.
What to Expect
With the launch of the WLFI token, the project’s next steps include listing the token, announcing the price and percentage of the total supply available to the public, and providing more clarity on how to acquire the token.
Remember, doing your own research is crucial before investing in any cryptocurrency project. It’s essential to understand the risks involved and evaluate the project’s legitimacy, team, and roadmap.
