World Liberty Financial’s Token Sale Date Revealed
It is finally here! The token sale for Donald Trump’s DeFi (Decentralized Finance) project is set for next week. The project, known as World Liberty Financial, shared an X post on Friday, revealing that the public sale of its tokens will begin on Tuesday, October 15th. According to the post, only investors who qualified via the whitelist in September will be allowed to participate in the token sale.
Launched last month, World Liberty Financial is currently limited to accredited investors in the United States. America’s Securities and Exchange Commission describes accredited investors as individuals with a net worth of one million dollars or more. Furthermore, such investors must earn at least $250,000 annually.
What is World Liberty Financial?
Initially announced by Trump’s son Erick in August, World Liberty Financial is a decentralized finance protocol running on the Ethereum blockchain. It intends to offer crypto borrowing and lending services. The team behind the project said on Thursday that it aims to make the protocol a leader in DeFi over the coming months.
For starters, DeFi is a sphere in the cryptocurrency world that seeks to replace conventional financial services by utilizing blockchain technology. Several trusted DeFi protocols already exist. Among them is Uniswap, a leading decentralized exchange that facilitates token swaps.
Republican presidential candidate Trump has advocated for crypto ahead of the US election next month. Interestingly, he said he wasn’t a fan of cryptocurrencies a few years ago. However, since 2021, Trump has been active in the crypto space, launching several NFT collections.
Trump Promises Better Business Environment
Furthermore, he now wants the remaining Bitcoin mined on US soil. In a meeting with American crypto miners in July, Trump promised to make the mining environment conducive once he assumes office. At the time, he called out Joe Biden’s administration for stumbling blockchain innovations by making the business environment hostile.
Meanwhile, Trump has said that his decentralized finance project will help make the United States “world’s crypto capital.” Despite his active involvement in crypto, some analysts believe he is only hunting for votes and could abandon the blockchain community once elected.
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