Trump-Backed World Liberty Financial to Launch Public Token Sale Next Week

World Liberty Financial, a new decentralized finance (DeFi) protocol endorsed by Donald Trump and his family, is set to commence its public token sale on October 15, just weeks before the presidential election.

The project announced on its social media account that the public sale will be open to individuals who qualify via a whitelist. The timing coincides with Trump’s candidacy for the Republican nomination in the upcoming election on November 5.

Bettors on the blockchain-based prediction market Polymarket currently view Donald Trump as the leading candidate for the presidency. This political backdrop may enhance interest in the token sale, linking it to the heightened visibility of the Trump family in the current election cycle.

World Liberty Financial Led by Experienced Team, Trump Family Takes On Key Roles in DeFi Initiative

World Liberty Financial is led by Zachary Folkman and Chase Herro, both of whom have experience in the DeFi sector, previously working on the platform Dough Finance. Dough Finance suffered a significant setback in July when it lost $2 million due to a security breach.

Trump has taken on the role of "Chief Crypto Advocate" for the project, with his sons Eric Trump and Donald Trump Jr. serving as "Web3 Ambassadors." Barron Trump is designated as a "DeFi Visionary," reflecting the family's involvement in promoting the protocol.

World Liberty Financial Targets $300 Million in Token Sale, Launching Governance Token WLFI on Aave v3

According to a roadmap shared by The Block, World Liberty Financial aims to raise $300 million through the token sale, with an anticipated valuation of $1.5 billion. The new token, WLFI, will function as the governance token for the protocol, allowing users to participate in decision-making regarding its development.

In addition, World Liberty Financial plans to launch on Aave’s v3 platform on the Ethereum mainnet. This move aims to facilitate liquidity provision for various digital assets, including ether (ETH), wrapped bitcoin (wBTC), and stablecoins, as outlined in an Aave governance post.

While the project garners political attention, its success hinges on securing investor confidence amid previous security challenges in the DeFi space.