The public sale of World Liberty Financial ($WLFI), a cryptocurrency project inspired by Republican presidential candidate Donald Trump, started on October 15. However, after 24 hours of its launch, it has yet to gain enough traction as expected.
World Liberty Financial operates as a decentralized finance (DeFi) platform and utilizes the WLFI token for governance.
WLFI Token Sale Outcome After One Day
Despite extensive promotion and multiple announcements on social media, the initial outcomes have not met expectations. Meanwhile, recent data displayed on the project’s official website indicates a gradual increase in sales.
World Liberty Financial aims to sell 20 billion tokens at $0.015 per $WLFI, amounting to a planned USD total of $300,000,000. These 20 billion tokens represent 20% of the total supply of 100 billion.
However, only 774.24 million tokens have been sold, generating just $11,613,600. This leaves 19.225 billion tokens still available for purchase. A dedicated Dune Analytics dashboard for World Liberty Financial displays the participation of 8,699 wallets.
WLFI Token Sale Outcome in One Day | World Liberty Financial
Despite the consistent increase in sales post-launch, the current figures only account for approximately 3.6% of the total allocation for public sale. This suggests a slower uptake than initially expected, potentially due to technical challenges experienced at the beginning of the sale.
World Liberty Financial Draws Criticism From the Crypto Community
The Donald Trump-backed project has generated positive sentiment from those who view the billionaire businessman as a pro-crypto candidate. However, the project has also faced a fair amount of criticism.
One of the primary concerns is the imposition of a one-year vesting lock at a $1.5 billion market capitalization. This means that early investors in World Liberty Financial will not be able to withdraw their purchased coins for a year. Nevertheless, they can use them for other purposes, such as voting and governance.
The Token Sale Terms & Conditions page specifies that $WLFI Tokens are non-transferable and indefinitely locked, akin to non-refundable purchases.
Buyers are expected to accept the risk of a potential decrease in value without anticipating resale. The company claims it has no intention of establishing a secondary market for these tokens.
The recent release of the project’s “gold paper” has also received criticism from cryptocurrency analysts. The paper outlines plans for users to borrow, lend, and other decentralized finance (DeFi) activities.
According to the founder of the gaming company The Tipsy Company, the gold paper is filled with errors. He asserted, “It [the gold paper] feels rushed and careless.”
1/ i've always supported @realDonaldTrump & his passion for crypto / web3, but this World Liberty Financial token ($WLFI) @worldlibertyfi is raising some serious red flags.
the "gold paper" is riddled with errors – it feels rushed and careless.
a couple of glaring examples: pic.twitter.com/dsnB1cyaHj
— ForeverTipsy (@ForeverTipsyETH) October 16, 2024
He further pointed out other errors, such as basic grammar mistakes, poor formatting, trust-eroding inconsistencies, and a lack of attention to detail in the whitepaper.
While these are minor issues anyone can certainly make, the commenter believes that World Liberty Financial is a project backed by Trump, a prominent United States presidential aspirant. As such, the team should have paid closer attention to minor details like these.
Looking ahead, it’s far from clear whether the token sale will generate intense participation in the coming weeks. However, the outcome of the November 5 Presidential election will significantly impact the progress of the World Liberty Financial project.
