Originally published on: October 16, 2024
The highly anticipated token sale for World Liberty Financial, a crypto project backed by the Trump family, has hit a roadblock as it struggles to meet its $300 million target. Despite launching its token sale for WLFI on Oct. 15, the platform has only managed to sell a meager 3.4% of its goal, amounting to just $10.3 million in tokens.
With 20 billion tokens priced at 1.5 cents each up for grabs, the lackluster response has raised concerns within the crypto community. Etherscan data reveals that only 6,832 unique wallet addresses currently hold WLFI tokens, a far cry from the over 100,000 sign-ups the project anticipated before the sale began.
Adding to the challenges, World Liberty Financial’s website experienced technical difficulties shortly after the token sale went live, leaving many potential investors unable to access the platform. While the team attributed the crash to overwhelming traffic, it undoubtedly hindered the sale’s progress.
Former President Donald Trump’s involvement in the project, alongside his sons Barron, Eric, and Donald Trump Jr. as Web3 Ambassadors, failed to generate the expected buzz. Despite Trump’s endorsement of the token sale as the platform’s Chief Crypto Advocate, the response has been underwhelming.
It’s important to note that the WLFI tokens are only available to accredited investors in the United States, limiting the pool of potential buyers. These tokens will serve as governance tokens for an upcoming Ethereum-based decentralized finance platform, rather than being tradable assets.
Despite the challenges, World Liberty Financial remains committed to its vision, with plans to integrate with the popular DeFi protocol Aave. A governance proposal submitted earlier this month outlines the platform’s strategy to leverage Aave’s functionalities for lending, borrowing, and interacting with various DeFi products.
While the road ahead may be challenging, World Liberty Financial’s determination to establish a prominent presence in the crypto space remains unwavering. Stay tuned for more updates on this evolving story.
