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Cryptocurrency News Articles
World Liberty Fi (WLFI) Announces Token Sale Will Kick Off Tuesday for "Everyone Who Qualifies through the Whitelist"
Oct 14, 2024 at 07:09 pm
Many users are excited for the token sale, but others expressed frustration over the supposed "weeding out" of middle-class users.
DeFi project World Liberty Federation (WLFI) recently announced the launch of its token sale on Oct. 15. The project unveiled its “vision” of how WLFI will help transform decentralized finance (DeFi) engagement for cryptocurrency users worldwide in the lead-up to the sale.
Here are some of the key highlights from WLFI's reveal:
Many crypto users on X expressed excitement over the upcoming token sale, but several others called out the announcement for claiming it was a "public" sale.
“It's not public when it's just for the 1% accredited investors,” commented one user, and another said, "once again middle class is weeded out!”
It's not public when it's just for the 1% accredited investors. This is an embarrassing launch for a token that is supposed to unite the people.
I wished I could qualify on the whitelist!…. Once again middle class is weeded out!
Another user stated that the token sale is only for "all the rich people and people that aren't U.S. citizens." Earlier this month, when WLFI announced the opening of its whitelists, Republican presidential candidate Trump posted about the whitelists on X.
The crypto venture explained at the time that "due to the outdated policies and regulations in the U.S.," not all Americans will be able to join the lists. Having a net worth of over $1 million is one of the requirements to be an accredited investor and be eligible for the WLFI whitelist.
One user suggested that the crypto community should have been provided with more details about the project first "to win our trust before jumping into a public sale." For example, the user said there should have been a white paper and tokenomics document release first before the WLFI token sale.
I thought we would have gotten more info and work on those project, to"kenomics, white paper, actual use cases and mode to win our trust before jumping into a public sale. Come on it looks 🐟
This isn't the first time doubts have been raised about the Trumps' DeFi project. A CoinDesk report earlier revealed excerpts of a purported WLFI white paper that showed the project's code was "strikingly similar" to Dough Finance, which was exploited for over $2 million in mid-July.
It remains to be seen how Eric and Donald Trump Jr. will respond to concerns regarding their venture's "public" token sale.
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