World Liberty Financial, a decentralized finance (DeFi) initiative supported by Donald Trump, experienced significant website disruptions during its public token sale on October 15.
The launch was hampered by frequent website outages shortly after the sale started yesterday morning. Despite these technical issues, the token sale garnered significant interest, causing high traffic and repeated downtime.
Token Sale and Distribution Details
Despite the initial technical setbacks, the token sale continued, allowing participants to engage directly via the project’s smart contract. Currently, the WLFI token has nearly 3,700 unique holders. Analysis of the token allocation reveals that 83% of WLFI tokens are still held in the top three wallets, two of which received their funding directly from World Liberty Financial.
Structured similarly to the popular DeFi protocol Aave, WLFI is designed to function as a governance token within the platform. Of the total tokens, 63% are being offered in the public sale, 17% are earmarked for user rewards, and the remaining 20% are allocated to the project team.
World Liberty Financial has set ambitious financial targets for this venture, aiming to raise $300 million, which would value the project at $1.5 billion. Additionally, to stabilize the early market, tokens purchased during this sale will be locked for a 12-month period, preventing immediate resale.