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Donald Trump’s Crypto Project To Have 63% WLFI Token Allocation to Public

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3 months ago

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On Monday, Republican presidential candidate Donald Trump officially unveiled his much-awaited DeFi crypto project – World Liberty Financial. Later, there was an announcement that the project would have its native WLFI token with some scant details available regarding the project.

Donald Trump’s World Liberty Financial WLFI Token Allocation

Donald Trump spoke very little about his crypto project yesterday in a two-hour live stream. However, later one of the project leaders  Zak Folkman announced that there “will be a token”.

Reading through a pre-written statement, Folkman also stated that the World Liberty Financial Project was willing to sell non-transferable WLFI tokens. He added that WLFI tokens “are pure governance tokens, only providing the right to make proposals and vote on matters related to the platform”.

There are some minor details regarding the distribution pattern for WLFI tokens. Reportedly, 63% of the WLFI tokens would be available to the public and the other 17% would be reserved for public use. The rest 20% would go towards public compensation.

Addressing Security Concerns

While commenting on the regulatory uncertainty surrounding crypto tokens and their sales in the United States, Folkman added that WLFI has decided to restrict its token sales to specific individuals.

“Although we don’t consider WLFI to be a security, it’s prudent to limit the sales to those eligible for transactions exempt from registration under U.S. federal securities law,” he added. Thus, US people willing to participate in these token sales need to be either accredited investors or reasonably verified.

Folkman along with the co-leader of World Liberty Financial Chase Herro, stated that they are identifying how the platform aims to eliminate barriers present in the traditional financial system.

However, the initial community reaction to the launch of the Donald Trump crypto project hasn’t been much positive. Following the recent assassination attempt on Trump, the former President unveiled the project but didn’t reveal many details about the DeFi project or its functionality regarding the same. The community shares its disappointment in sharp words.

Several listeners at the X Spaces launch of the World Liberty Financial project shared their frustration over the lack of substantive information about the platform and its actual functionality.

Previous reports also suggest that the DeFi project from Donald Trump would offer borrowing and lending similar to Dough Finance.

Crypto has taken center stage in the recent Trumpvs Harris battle. In the latest development, XRP Healthcare, a startup ecosystem based on XRP Ledger recently endorsed Trump for the upcoming Presidential elections.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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AVAX Price Eyes Rally As Avalanche Founder Draws Parallel To Bitcoin

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2 hours ago

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December 26, 2024

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The speculations over a potential AVAX price rally soared as Avalanche founder Emin Gun Sirer drew parallels to Bitcoin’s capped 21 million supply. Highlighting AVAX’s maximum supply of 715.74 million and its deflationary mechanism of burning transaction fees, Sirer contrasts it with Ethereum’s uncapped supply. This scarcity-driven approach positions it as a strong contender among digital assets, sparking investor confidence and raising hopes for a potential price surge in the near future.

AVAX Price Gains Attention As Founder Highlights Bitcoin-Like Supply Cap

On December 25, AVA Labs CEO and founder Emin Gun Sirer posted on X, emphasizing a critical aspect of Avalanche – its capped supply, which he likened to Bitcoin’s 21 million fixed limit. Unlike Ethereum, which has no maximum supply and currently has over 120 million coins in circulation, the Avalanche token has a total cap of 715.74 million coins. This scarcity, combined with Avalanche’s mechanism of burning all transaction fees, has sparked discussions about its potential impact on AVAX price growth over time.

Sirer explained that Bitcoin’s capped supply has been a cornerstone of its value, attracting long-term investors and fostering confidence in its deflationary nature. By adopting a similar model, Avalanche aims to position itself as a scarce digital asset with strong value-accrual dynamics. This deflationary mechanism could drive interest in capped-supply tokens.

Also, the comparison with Bitcoin positions Avalanche token as a unique player in the crypto market, offering scarcity alongside a robust ecosystem. These features could make it appealing to investors looking for long-term value, which in turn could boost the Avalanche price ahead. This is especially true in a market dominated by inflationary assets like Ethereum.

What’s Next For Avalanche?

The latest Avalanche price chart showed that the crypto declined 2% to $40.973. Its 24-hour low and high are are $40.08 and $41.84. The token market cap is $16.5 billion with $453 million of trading volume. Despite the recent decline, its market cap and rank suggest resilience and ongoing investor interest.

The expert said that the current price action indicates a bullish momentum ahead for the crypto. Highlighting $34.71 as a key support zone, the expert has shared a strong forecast for the crypto ahead. According to Rose, the AVAX price could target the brief $64.04 or $79.77 mark ahead.

AVAX Price AvalancheAVAX Price Avalanche
Source: Rose Premium Signals, X

Besides, Avalanche recently launched the Avalanche9000 upgrade. This aims to improve scalability and make launching subnets cheaper. The upgrade could increase network activity, boosting AVAX price in the future.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Sonic Chain Launches Ethereum Bridge, FTM Price Reacts

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5 hours ago

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December 25, 2024

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Newly launched Fantom spinoff Sonic Chain has finally released its Ethereum bridge dubbed the amid its sustained expansion drive. Announced on its X page, the protocol said the new gateway can help user bridge assets like USDC, EURC, WETH, and FTM from Ethereum to Sonic. The protocol also noted that this asset bridging can be done securely.

The Sonic Chain Bridge Features

This new bridge comes following the mainnet launch of the protocol on December 18. As part of the update, Sonic Labs said the new gateway has passed audits from three major security firms. These include Open Zeppelin, Quantstamp and Certora Inc. Despite the safety of the bridge, it has confirmed ongoing working plans with ImmuneFi for a bug bounty program.

Notably, it has designated a total of $2 million for the bounties, an offering it will split between the Gateway and Sonic Chain. Now, holders of FTM on the Ethereum network can now upgrade to S through the Gateway. For users’ safety, the protocol released the contract addresses of USDC, EURC, and WETH on Sonic.

Launched earlier in January, the Sonic Chain crossed the 1 million block milestone as reported by Coingape. This proves the fast rate of adoption of the new chain amid confirmation over 1,600 Transactions Per Second (TPS).

The Fantom Price Outlook

As a spinoff from the Fantom network, the successes of the Sonic Chain still bears a crucial impact on FTM price. Notably, the latest updates have not helped boost the price of the the coin considerable oveer the past week.

At the time of writing, FTM was changing hands for $0.9720, down by 0.79% in 24 hours. The coin has moved from a high of $1.0228 to a low of $0.9650 before settling at the current mark. With a 7-day loss of 21% and a mild 3% uptick in the past 30 days, there is growing expectation that dual movement of funds on the Gateway can help drive more liquidity to boost its price.

Overall, Sonic Chain developers plan to launch new set of Decentralized Applications (DApps) to drive the protocol’s adoption into the mainstream.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Shiba Inu Burn Rate Soars 100% As Community Lauds Major Milestones

Published

8 hours ago

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December 25, 2024

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The significant surge in Shiba Inu burn rate has once again garnered notable investor attention toward the renowned dog-themed meme crypto, SHIB. Recent burn data indicated that millions of coins were taken out of the token’s circulating supply, sparking noteworthy optimism surrounding the crypto amid recent ecosystem developments. Notably, market watchers are eyeing remarkable gains in the meme coin’s price ahead, primarily in the wake of recent community advancements despite broader volatility.

Shiba Inu Burn Rate Soars 100% Reverberating Market Optimism

As per the recent data from Shibburn as of December 25, the Shiba Inu burn rate witnessed a roughly 97% uptick, underlining a massive blow to the token’s circulating supply. Per the data, a whopping 6.26 million SHIB were sent to a null address, indicating that these tokens had been permanently removed from the circulating supply. Altogether, the burn rate surge glimmered hope for the asset’s future price movements, abiding by the law of supply and demand.

Shiba Inu burn rateShiba Inu burn rate

For context, the SHIB token burn mechanism focuses on reducing the dog-themed meme coin’s market supply, which many believe to be the reason for the asset’s sluggish performance over the years. In addition, other optimistic ecosystem developments have also poured investor optimism into the crypto’s future movements.

A recent CoinGape Media report revealed that the Shiba Inu community witnessed the ‘SHIB: The Metaverse’ launch this Christmas, enhancing the coin’s market visibility. Renowned community member KaalDhairya took to X, spotlighting the launch and garnering notable attention. Per Kaal, the platform has officially launched this Christmas, boasting jaw-dropping visuals that attract market participants. Also, the new platform uses Chainlink CCIP, pioneering a big step toward ‘multi-chain greatness for SHIB.’

Whilst the abovementioned endeavor marked a monumental stride, the looming launch of the TREAT token also weighed in, bringing additional investor optimism. SHIB lead developer Shyoshi Kusama recently hinted that ‘TREATS for the meme coin’s community are to arrive soon,’ sparking bullish market discussions. Overall, the aforementioned developments reverberated substantial optimism for the meme crypto’s future price movements despite a volatile market.

SHIB To Pump Hard Ahead?

Despite soaring optimism amid the mentioned developments, SHIB price witnessed heightened volatility intraday and is resting at $0.00002293. Its 24-hour low and high were $0.00002261 and $0.00002402, respectively. Notably, the top meme coin’s turbulent action aligns with the broader market’s volatile state. Nevertheless, long-term prospects for the token shine with bullishness.

Reportedly, SHIB price eyes a major rally ahead in the wake of its lead developer, Shytoshi Kusama, highlighting community developments. The token eyes a rebound to $0.000026 or even $0.000029 ahead, further supported by the Shiba Inu burn rate upswing and strong SHIB on-chain dynamics.

Meanwhile, recent Whale Alert data flagged a whopping 2.88 trillion SHIB accumulation, worth $65.70 million, from the Turkish crypto exchange BTCTurk. Overall, crypto market participants continue to eye the coin extensively, expecting bullish shifts amid the aforementioned market statistics that indicate a strong potential to rally against the backdrop of supple decline and increased buying.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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