Donald Trump supported decentralized finance protocol World Liberty Financial‘s token sale will go live on Tuesday morning, the former President said on Saturday.
What Happened: “This is YOUR chance to help shape the future of finance,” Trump wrote on social media platform X, formerly Twitter, about the upcoming token sale. The President also urged interested candidates to take part in the X Spaces event to be held on Monday regarding the token sale.
The World Liberty Financial’s website now shows a ticking timer until the start of the sale.
Why It Matters: According to The Block’s report from last week, the project aims to raise $300 million from the initial sale. It will sell 20% of the token supply at a $1.5 billion fully diluted valuation, the report said, citing the roadmap shared with prospective investors.
The token called WLFI will serve as the platform’s governance token and will allow users to vote on its future development. However, the token will be non-transferable and non-yielding, differing from most crypto assets that can be traded or generate passive income.
Price Action: The broader crypto market responded positively to the news. Bitcoin (CRYPTO: BTC) saw a 0.34% increase over the last 24 hours, while Ethereum (CRYPTO: ETH) rose by 0.86%, and Dogecoin (CRYPTO: DOGE) gained 1.15%, according to data from Benzinga Pro.
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