Trump-backed WLF launches despite website crash – what’s next?
World Liberty Financial (WLF), a crypto project backed by the Trump family, is highly anticipated on October 15th. However, soon after its launch, the project website struggled to handle the flood of traffic. This caused a few unexpected technical problems. But despite these early challenges, the WWFI token sale of the platform's management token has begun. Let's dive deeper into what went down.
Rocky start, but tokens continue to sell.
As WLF launched on Tuesday, the website could not cope with the volume of visitors, crashing several times. Still, that didn't stop nearly 3,000 investors from snapping up 344 million WWFI tokens in the first hour. That may sound like a lot, but it's only 1.7% of the 20 billion tokens available for public sale. The project aims to raise a whopping $300 million, and despite these setbacks, by the end of the day, they had raised $5.7 million in Ether (ETH), $1.6 million in Tether (USDT), and $300,000 in USD Coin (USDC). There are currently 7,337 WWFI token holders.
The project sold 710.26 million tokens out of the 20 billion offered for sale. The purchase price for 1 $ WMFI is set to $ 0.015, which means that the project has raised more than 10 million dollars at the time of writing.
What makes FLFI tokens different?
The WLFI token is not just something to buy and sell, it serves a greater purpose. The brand holds voting power in WLF management. This allows the owners to vote on important decisions for the platform. The decisions may be for protocol improvements, partnerships, or changing security measures. WMFI token holders will have a say in all of this. However, there is a catch: these tokens are non-transferable and locked into a modern contract unless the rules change in the future.
What's next for global financial freedom?
The WLF has big plans. The platform hopes to revolutionize the decentralized finance (DeFi) space by creating pools such as loans, mortgages and liquidity. They want to keep the US dollar as the main global currency by using decentralized financial instruments in favor of a stable coin based on the US dollar. Their “golden paper” promises to comply with US financial laws and lays out their strategy for the future.
The project used Trump's name, with Donald Trump as “Chief Crypto Advocate” and his children as “Web 3 Ambassadors”. Their goal? Use their influence to bring Web2 users into the Web3 world. It's still early days, but the team is off to a great start.
What is expected?
Although the launch of WLF has faced many technical difficulties, investor interest is high. The project raised millions within hours of its launch. It focuses on DeFi services and follows US laws. WLF aims to make a lasting mark in cryptocurrency. Stay tuned for updates as the platform adds new features and works to stabilize it.
