Donald Trump, the former US President, has launched a cryptocurrency platform called World Liberty Financial, alongside his sons and entrepreneurs. Despite an assassination attempt on Trump, the platform’s launch event went ahead as planned.
Key Features of World Liberty Financial:
- Decentralized Finance (DeFi): The platform uses blockchain technology to eliminate intermediaries like banks, allowing users to lend or borrow cryptocurrencies directly.
- Stablecoins: The platform will primarily use stablecoins, backed by traditional currencies like the US dollar, to minimize fluctuations.
- Token-Based Governance: Users can buy digital tokens, giving them voting rights in platform decisions.
- Accessibility: The goal is to create a user-friendly platform, attracting the masses to cryptocurrencies.
Token Distribution:
- 63% of tokens will be offered to the public
- 20% will go to the founding team
- The remaining tokens will be reserved as rewards for users
Notably, Trump’s stance on cryptocurrencies has shifted; he previously called them a “scam” but now presents himself as a “pro-bitcoin president” if elected in November. This puts him at odds with the Biden administration, which favors regulating the sector.
The platform’s leaders, Zachary Folkman and Chase Herro, touted this as “the start of a financial revolution” during a session streamed on X (formerly Twitter). However, no timeline for the project’s completion has been disclosed.
