Donald Trump’s crypto project, World Liberty Financial (WLF), released a 13-page document detailing its mission, token allocation, and potential revenue distribution. The project, formerly known as “The DeFiant Ones,” launched the WLFI token in an effort to raise $300 million at a $1.5 billion valuation. However, as of Thursday, only $12.9 million worth of tokens have been sold. The document indicates that Trump and his family will receive 75% of net revenue, valued at 22.5 billion tokens or $337.5 million at the launch price of 1.5 cents per token.
Despite the close ties to the Trump family, the document emphasizes that WLF and its tokens are not affiliated with any political campaign. The Trumps are not directors, employees, managers, or operators of WLF. The white paper also states that a Delaware-based company linked to the former president, DT Marks DEFI LLC, is set to receive three-quarters of the net protocol revenues. The project aims to position itself as a crypto bank where customers can engage in borrowing, lending, and investing in digital coins, with the revenue generated from various sources being distributed accordingly.
Axiom Management Group (AMG), a Puerto Rico LLC owned by Chase Herro and Zachary Folkman, is set to receive the remaining 25% of net protocol revenue. Folkman, who previously founded a company called Date Hotter Girls and worked on Dough Finance, teamed up with Herro to launch AMG. AMG has agreed to allocate half of its revenue rights to WC Digital Fi, an affiliate of Trump’s close friend and political donor, Steve Witkoff, along with certain family members. Witkoff’s son, Zachary, is also involved in the project as a co-founder.
The breakdown of token distribution includes 35% allocated to the token sale, 32.5% to community growth and incentives, 30% to initial support allocation, and 2.5% to the team and advisors. While the paper outlines these anticipated allocations, it notes that these amounts are subject to change. The roles of Trump and his family members within these categories are not explicitly stated. Trump is referred to as the “chief crypto advocate” of the project, with his three sons serving as “Web3 ambassadors.”
Despite the ambitious goals outlined in the white paper, the project has faced challenges in raising funds, with only a fraction of the intended amount sold so far. The document, released ahead of the election in which Trump is in a close race with Vice President Kamala Harris, aims to provide transparency about WLF’s mission, goals, and revenue allocation structure. While questions about the project’s viability and potential conflicts of interest remain, the Trump family’s involvement in WLF highlights the growing intersection of cryptocurrency and politics.
