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Trump-Backed World Liberty Financial Raises $11 Million on 1st Day of Token Sales
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After the first day of sales, the Donald Trump-backed World Liberty Financial (WLFI) contract portfolio accumulates $11,589,118 in assets. The majority of these assets are in Ethereum (ETH), representing 71.72% of the portfolio, which is equivalent to more than US$8.3 million. In addition to Ethereum, the wallet contains Tether USD (USDT), which makes up 20.60%, and USDC, which makes up 7.20%.
According to data from Etherscan, the top 100 token holders own 99.56% of the entire WLFI supply. The token has a maximum supply of 100 billion WLFI, with 8,755 holders accounting for 23.292% of the total.
The largest holder is a secure contract wallet from the gnosis project, which holds 47.5% of the tokens. Another significant percentage, 19.2382%, is allocated to a distribution wallet at address 0xe217E.
The token’s decentralization index, according to Etherscan, is currently at 2.12%. This indicates a high level of ownership concentration, something common for new tokens.
Revenue from the World Liberty Financial project, supported by Trump, disappoints
Centralization among a few holders is a possible risk for project governance. After all, the ability to sell tokens is tied to a future governance vote. In total, 54.94% of tokens are held in contracts, and none have been identified on centralized exchanges.
World Liberty Financial aims to raise $300 million through token sales. With the results of the first day, the company achieved only 3.8% of this goal, probably disappointing project supporters and developers.
It is worth noting that the project website experienced intermittent downtime on Tuesday morning when sales began.
WLFI will be a governance token used to vote on decisions about the future development of the platform, according to the roadmap, and the tokens will be non-transferable for the first year. World Liberty Financial is co-founded by Steve and Zach Witkoff, Folkman and Chase Herro.
Initial reaction to the World Liberty Financial project was divided with critics saying the project does more harm than good for the industry.
Trump-Backed World Liberty Financial Raises $11 Million on 1st Day of Token Sales
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Trump-Backed World Liberty Financial Raises $11 Million on 1st Day of Token Sales
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Trump-Backed World Liberty Financial Raises $11 Million on 1st Day of Token Sales
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Trump-Backed World Liberty Financial Raises $11 Million on 1st Day of Token Sales