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Yesterday on Twitter, Trump announced that his DeFi project, World Liberty Financial, will launch on September 16th.
What’s the Scoop?
- Token Allocation: An initial whitepaper draft stated that 70% of the non-transferable tokens will be distributed to insiders, with the remainder offered for sale.
- Project Details: The “high-yield” WLFI will be built on Aave, Coindesk reported, and has ties to another recently hacked lending platform, Dough Finance, whose team will also play critical roles in World Liberty’s operations.
- Regulatory Scrutiny: With Trump’s 2024 campaign ongoing, many expect the project to face heightened scrutiny, particularly if it fails to gain regulatory approval.
Bankless Take:
While initially sparking excitement, sentiment about World Liberty Financial’s launch has turned notably critical, with many seeing it as a potential liability for Trump’s campaign. Anxieties revolve around the project inviting legal trouble, especially given its ties to a previously hacked protocol, and distracting Trump’s team from the election. While Trump’s direct involvement may turn out to be minimal, the risks of launching this high-stakes venture so close to the election remain clear. If anything goes wrong, the consequences could be far-reaching.
.@WorldLibertyFi pic.twitter.com/rHEGQXl4jL
— Donald J. Trump (@realDonaldTrump) September 12, 2024
