As the United States presidential election inches nearer, the two contenders continue making several moves to capture citizens’ attention. Republican candidate Donald Trump has doubled down on his efforts to win crypto investors’ votes by announcing a crypto-centric platform called World Liberty Financial.
Trump to Launch Own Token
Early Friday, Trump announced the World Liberty Financial launch, scheduled for September 16 via Twitter Spaces. The platform's services will include a digital wallet for lending and borrowing, a credit account system, and asset storage. It also promises U.S. investors access to DeFi products. The partnership with DeFi lender Aave suggests that the platform will operate on the Ethereum network. The project's whitepaper reveals the deployment of a governance token, WLFI, to bootstrap the crypto platform.
Market Predictions
Polymarket users started speculating about Trump issuing a token in mid-June. This period coincided with a surge of Trump-related meme coins in the crypto market. One such token, DJT, was created by an ex-convict to support the crypto-friendly presidential candidate.
Polymarket Prediction Conditions
Polymarket's website states that the prediction market for the question 'Will Trump launch a coin before the election?' will resolve to 'Yes' if Trump launches a new token before November 4, 2024, the day before the presidential election. If no token is launched, the market will resolve to 'No'.
The launch of World Liberty Financial and the potential issuance of a token could significantly influence pre-election sentiments and Trump's plans. Investors and predictors will be closely watching the developments.
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