During an interview with U.S. presidential candidate Donald Trump, the World Liberty Finance team announced plans to launch a governance token called WLFI, which will be used for lending services on the Ethereum network.
WLFI Token Announcement
According to Zack Folkman, the platform’s operations lead, and Chase Herro, the head of data and strategy, the WLFI token will be regulated by the U.S. Securities and Exchange Commission. WLFI tokens will be non-transferable and will not provide economic rights to holders of World Liberty Finance.
WLFI Tokenomics
With significant attention on the World Liberty Finance project, partly due to its affiliation with Donald Trump, the team cautioned crypto enthusiasts to stay away from potential scams until the official confirmation of the token launch. As for WLFI distribution, 63 percent of the total supply will be sold to the public on the Ethereum network. Approximately 17 percent will be set aside for user rewards, and the remaining 20 percent will be reserved for team compensation, including new hires and advisors.
Important Warnings
The team also highlighted that the official launch date of the WLFI tokens will be communicated through the official social media channels.
In conclusion, the launch of the WLFI token is drawing significant attention, especially due to its association with the Trump family. However, it is essential to monitor official statements from the team to avoid scams.
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