The Trump-backed crypto project, World Liberty Financial (WLFI), has garnered significant attention ahead of its public token launch on October 15. According to Zak Folkman, the platform’s head of operations, the WLFI token has attracted over 100,000 signups in anticipation of its release.

Token Launch Details

The token will be an Ethereum-based ERC-20 asset and will act as the governance token for the platform’s decentralized finance (DeFi) ecosystem. Folkman and fellow team members, Chase Herro and Zach Witkoff, reiterated platform functionalities such as borrowing, lending, and interacting with liquidity pools. However, access will only be available to accredited investors in the United States.

Participation of Notable Figures

Excitement surrounding World Liberty Financial was amplified with the announcement that Paxos co-founder, Rich Teo, would be joining the team to lead its stablecoin and payments division. Additionally, Aave CEO Stani Kulechov praised the project, as World Liberty Financial will utilize Aave’s lending functionality in its DeFi offerings.

Context of Trump's Crypto Project

The WLFI token sale comes just three weeks before the U.S. elections, set for November 5, in which Donald Trump, who backs the project, seeks the Republican presidential nomination. Trump Jr. has criticized the traditional U.S. banking system and highlighted the platform’s potential to create a more equitable financial system.

World Liberty Financial aims to raise $300 million from token sales, giving the project an estimated valuation of $1.5 billion. Meanwhile, Donald Trump promises to make the United States a 'crypto capital' if he wins the 2024 election.