Trump’s WLFI Token Sales Struggle, Raising Only $9M

 
Ritu Lavania
Written By 
Ritu Lavania
October 16, 2024

Republican presidential candidate Donald Trump constantly promoted his crypto project, World Liberty Financial but its native WLFI token didn’t have a promising welcome as it suffered from website outage. The token also failed to raise $300 Million and ended up raising just $9 Million.

WLFI token, which is being marketed as a governance token for DeFi activities such as borrowing, lending, and liquidity pooling, didn’t live up to its expectations as the sale raised only $9 million—falling far short of its $300 million target. The project, which still is not fully transparent when it comes to vision, has allocated nearly 3% of the total tokens for public sale.

After Trump’s post on X, the website experienced multiple outages, and no significant surge in sales were witnessed. In fact, more than 540 million tokens were already sold before his involvement.

In the first hour, sales had gone to $5 million, but the website soon crashed, affecting further transactions. Co-Founder of Scroll Blockchain and now WLFI advisor, Sandy Peng, said that the outages was due to overwhelming demand,with the site seeing 72 million unique visits in the first hour. Over 100,000 people are listed, but only 6,700 token holders have been recorded on Etherscan so far, as a result of the crash.

Courtesy: @WazzCrypto

With lack of transparency, exclusive first round participation for only accredited investors with a net worth exceeding $1 Million- Trump’s project could not take off as was initially anticipated. 

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Ritu Lavania
Written by Ritu Lavania

Ritu Lavania is a versatile Web3 content creator with over three years of experience in the crypto space. She is part of the team at CryptoNewsZ, where she writes insightful and engaging content. She has also contributed to TheCryptoTimes and The Coin Edition, where her work has been well received by the crypto community. Skilled in research, creative writing, SEO, and cross-functional collaboration, she creates content tailored to diverse audiences. ionate about education, she dedicates time to teaching kids and expressing herself through poetry. Always eager to learn, she continuously explores new trends in blockchain and digital assets. She believes in the power of storytelling to make complex crypto topics more accessible and engaging for readers worldwide.