World Liberty Financial, a decentralized finance (DeFi) venture, has announced the unlocking of its WLFI tokens for trading starting September 1. The project is linked to Donald Trump's family.
Unlocking of WLFI Tokens
The project stated that early backers will be able to unlock 20% of their tokens through onchain Lockbox compliance. The remaining 80% will stay locked until a future governance vote. Lockbox activation begins on August 25, and most investors will be able to connect immediately. Only a limited number who fail compliance checks will face restrictions.
Participants and Investment Volume
World Liberty Financial has raised about $550 million through two public sales. Notable investors include Tron founder Justin Sun, who invested $30 million for 2 billion tokens, and Web3Port, which contributed $10 million. A July vote saw WLFI holders unanimously support making the tokens tradable.
Criticism and Conflict of Interest Risks
The project has faced criticism from Democrats regarding potential conflict-of-interest risks associated with Donald Trump's involvement. Attempts to impose stricter regulations in the GENIUS Act, which was signed into law by Trump in July, largely failed.
With the unlocking of WLFI tokens, World Liberty Financial aims to establish its presence in the DeFi sector, although the risks related to Donald Trump's involvement in the project attract attention and prompt public discussions.
