As the U.S. presidential election approaches, both candidates are executing strategies to engage voters.
Republican hopeful Donald Trump is intensifying his outreach to crypto enthusiasts. Following a Friday launch announcement of a crypto-focused initiative called World Liberty Financial, 84% of participants in the leading prediction market, Polymarket, indicated their belief that Trump will release his own token before election day. However, at the time of writing, this percentage has decreased to 69%.
Trump to Introduce His Own Token
Earlier on Friday, CryptoPotato reported on the specifics of Donald Trump’s World Liberty Financial, detailing that the platform will launch on September 16 via Twitter Spaces. The collection of services offered includes a digital wallet for lending and borrowing, a credit account system, and asset storage, along with providing U.S. investors access to DeFi products.
With Trump’s World Liberty Financial establishing a partnership with the DeFi lender Aave, the platform is expected to debut on the Ethereum network.
A close examination of its whitepaper reveals that a governance token, WLFI, will be introduced to jumpstart the crypto platform. The announcement regarding the World Liberty Financial launch has heightened bettors’ confidence that Trump will unveil a token.
Data from Polymarket indicates that speculations regarding the potential launch of Trump’s token began around mid-June, during a surge of Trump-related meme coins in the crypto space. One notable example was DJT, a controversial meme created by a former inmate aimed at supporting the crypto-friendly presidential aspirant.
Forecast for Prediction Market Outcome?
According to Polymarket’s platform, the prediction market’s query “Will Trump launch a coin before the election?” will resolve as “Yes” if Trump does release a new token before November 4, 2024, the day prior to the presidential election. This must be confirmed by a reliable source.
If the presidential candidate fails to launch a token, the market will resolve as “No.”
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