Former President Donald Trump and his family have announced the launch of their new decentralized finance (DeFi) initiative, World Liberty Financial, along with a related token.
In a conversation on the social media platform X, Trump and his three sons confirmed that the forthcoming DeFi project will feature a governance token named WLFI.
While Donald Trump did not provide direct comments on the token, crypto investor and entrepreneur Farokh Sarmad served as the spokesperson for the project, delivering the following remarks.
“The answer is yes, we will have a token. Anticipating your inquiry, I have prepared a written statement that I will now read to give everyone some context and ensure they understand what the token entails.
At World Liberty Financial, we believe in the necessity of widespread participation in guiding the World Liberty Financial platform and decentralized finance as a whole. We assert that a governance token is the optimal way to achieve this objective.
Consequently, we plan to distribute governance tokens called WLFI in the future. WLFI tokens will be purely governance tokens, granting only the right to propose and vote on matters related to the platform…”
63% of WLFI tokens will be made available to the public, 17% will be designated for user rewards, and 20% will be reserved for team compensation.
Earlier this month, the project released a statement about its roadmap, asserting its goal to promote stablecoins pegged to the US dollar and the concept of decentralized finance globally.
In a recent interview with Laura Shin on the Unchained podcast, Ogle, a pseudonymous security advisor for World Liberty Financial, acknowledged that the project may attract heightened attention from hackers due to its political connections.
The security expert indicated that he has been assisting the team with various “fire drills” and checklists to mitigate potential vulnerabilities.
As of the time of writing, WLFI has not been launched yet.
Don’t Miss a Beat – Subscribe for email alerts sent straight to your inbox
Check Price Action
Follow us on X, Facebook, and Telegram
Surf The Daily Hodl Mix
 
