As a seasoned researcher with a keen eye for market trends and a knack for navigating the complex world of cryptocurrencies, I must admit that the performance of World Liberty Financial (WLFI) during its recent token sale left me somewhat perplexed.
Yesterday marked the commencement of a token sale for World Liberty Financials (WLFI), a recently introduced Decentralized Finance (DeFi) initiative that enjoys backing from Donald Trump and his kin.
Originally, the aim was to amass a sum of $300 million by offloading 20 billion tokens. Yet, they managed to gather just 4% of this target, which equates to approximately $11 million. This amount came from selling around 792 million tokens.
The sale began at 12:40 UTC, but the WLFI website faced major problems and crashed during the first hour. This made it hard for people to access the site and buy the tokens.
Furthermore, Donald Trump (previously) declared a token sale on platform X, yet the anticipated surge in sales did not materialize as expected.
By Wednesday afternoon, the price of a single WLFI token stood at $0.015, with most investors typically spending under $1,000 per purchase.
Based on information from Etherscan, we now have more than 9,359 individuals holding tokens – an uptick of approximately 28.7%, compared to the number before the site encountered issues.
On the platform, the role of the WLFI token is to facilitate decision-making within DeFi operations. This enables users to participate in tasks such as borrowing funds, lending assets, and establishing liquidity pools.
On the other hand, the WLFI token isn’t transferable, which means it can’t be bought or sold on different platforms. This lack of tradeability might be a deterrent for certain investors who prefer the flexibility to offload their investments.
As per an earlier report, World Liberty Financial conducted a live broadcast on X Spaces on October 14 to share updates about its DeFi technology. One of the co-founders, Zak Folkman, mentioned that the project draws inspiration from the principles and vision of Donald J. Trump.
The webcast occurred prior to the official product release, which happened after approximately 100,000 registrations on the WLFI platform since its debut in September.
In summary, the WLFI token launch fell short of expectations, leading to some uncertainty about the project’s prospects moving forward.
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2024-10-16 21:24