Outside Source
World Liberty Financial completed its initial sale of tokens at 1.5 cents each and has now released more, hiking the price to 5 cents.
News
The Donald Trump-backed decentralized finance platform World Liberty Financial has completed the initial sale of its token and is selling more of it at a 230% markup due to “massive demand.”
“We’ve completed our mission and sold 20% of our token supply,” World Liberty Financial said in a Jan. 20 X post. “Due to massive demand and overwhelming interest, we’ve decided to open up an additional block of 5% of token supply.”
The Trump family’s DeFi platform launched in September and initially aimed to sell 20% of the 100 billion total World Liberty Financial (WLFI) tokens it created. The project’s website shows it has now added an additional 5 billion tokens for sale at 5 cents each.
WLFI token sale announcement. Source: World Liberty Financial
World Liberty is seemingly hoping to raise an extra $250 million with the extended sale. Its initial sale — which was initially sluggish in part due to barring US retail investors from taking part — sold WLFI for 1.5 cents per token, netting the project $300 million.
Tron founder Justin Sun, already the project’s largest investor with a $30 million token buy in November, said in a Jan. 19 X post that he was investing “an additional $45 million” into World Liberty, bringing his total investment to $75 million.
Related: Trump’s DeFi project’s December crypto buying spree nears $45M
The project’s original 20 billion WLFI public token sale went live on Oct. 15 and was available to only US-accredited investors and non-US citizens.
The WLFI token, which can’t be sold or transferred, will be used as the governance token for the project’s yet-to-be-launched decentralized crypto trading platform, granting holders voting rights in community proposals.
World Liberty also announced a strategic partnership with TRUMP, the president-elect’s official memecoin, which jumped to over $73 hours after launch on Jan. 19 before dumping 40% in a fall back to $41 as his wife, Melania Trump, launched her own namesake memecoin.
Magazine: BTC’s ‘reasonable’ $180K target, NFTs plunge in 2024, and more: Hodler’s Digest
This article first appeared at Cointelegraph.com News
