Former US presidential candidate Donald Trump has taken to social media to promote a new crypto project, World Liberty Financial, after the initial sale of WLFI tokens fell far short of its financial goals.
ICO Falls Well Below Expectations Despite Trump Family Backing
The sale of WLFI tokens, which launched on Tuesday, aimed to raise $300 million, but has only raised around $9 million at this stage. This amount represents just 3% of the tokens allocated for public sale. Despite active promotion and repeated announcements on social media, the initial results have not met expectations.
Technical issues also hampered the performance of the sale. The official website dedicated to the sale experienced several interruptions, affecting the participation of potential investors. These interruptions dampened enthusiasm and slowed down sales progress.
Public Support from Donald Trump
“Today’s the day! The @WorldLibertyFi token sale is live. Get your $WLFI tokens now. Purchase $WLFI here,” wrote Trump in an explicit promotion message, encouraging his followers to visit the official website to buy tokens.
In an attempt to boost momentum, Donald Trump used the social media platform X (formerly Twitter) to actively promote the project. In a post made late on Tuesday, Trump urged his followers to buy WLFI tokens, marking a new milestone in his growing involvement in cryptocurrency-related initiatives.
However, despite this media outing, sales volumes did not immediately spike after Trump’s announcement. In fact, about 540 million tokens had already been purchased before the presidential candidate’s intervention.
The Role of WLFI Token in the DeFi Ecosystem
The WLFI token is positioned as a governance token for the World Liberty Financial platform. It enables token holders to participate in various decentralized finance activities, including lending, borrowing, and liquidity pool creation, based on the Aave model. This model aims to capitalize on the growing interest in DeFi solutions, allowing users to manage assets while contributing to project governance.
Nevertheless, the future of the WLFI token and the World Liberty Financial project will depend on the platform’s ability to overcome technical obstacles and attract a strong community of users and investors. The direct involvement of Donald Trump could also play a crucial role in the project’s development, but only time will tell.
