The Trump-backed public token for the World Liberty Financial (WLF) DeFi project launched at around 12:40 UTC, and despite numerous site crashes, 2,900 investors managed to purchase 344 million WLFI tokens within the first hour. According to Etherscan data, 3,000 unique wallets bought the token during this time. However, this represents just 1.7% of the 20 billion tokens available for the public sale.

The tokens were priced at a fixed rate of $0.015 each, and if all had been sold, it would have raised $300 million. The total supply of WLFI, including tokens not available to the public, is 100 billion.

Earlier, project officials revealed that 100,000 U.S. investors had been whitelisted prior to the token's launch, meeting specific financial criteria.

### What can holders do with the $WLFI token?

The team released a “gold paper” on Tuesday, detailing the World Liberty Financial project and the role of the WLFI token. The platform allows users to lend and borrow crypto, and token holders can participate in governance decisions, influencing how the platform operates.

While holders can propose changes to the platform, it's important to note that the $WLFI token is indefinitely locked and cannot be transferred between wallets. All governance decisions will comply with U.S. regulations.

The "gold paper" also stated:

“WLF strongly supports US dollar-based stablecoins and DeFi applications that aim to maintain the U.S. Dollar's status as the global reserve currency for the next century, without compromising the freedoms decentralized assets offer.”

The project materials describe Trump’s sons as "Web3 ambassadors," while Trump himself is referred to as the "chief crypto advocate."

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