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WLFI Token Sale
Trump-affiliated company entitled to 75% of agreement revenue
According to a document called World Liberty Gold Paper, the Trump family will receive 2.25 billion “$WLFI” tokens. Based on the price of $0.015 per token at the time of issuance this week, these tokens are currently worth $337.5 million. The project started selling WLFI tokens on Tuesday and its roadmap indicates plans to raise $300 million at a valuation of $1.5 billion in the initial sale, with $30 million of token sale revenue reserved for operational expenses and other financial obligations.
However, at the time of writing this article, only 867.93 million tokens have been sold, with a total value of approximately $12.9 million, and the initial $30 million seed capital has not yet been reached.
Furthermore, a document released on Thursday also indicates that DT Marks DEFI LLC, a Delaware company associated with the Trump family, will receive 75% of the net agreement revenue. The document states that they are not directors, employees, managers, or operators of WLF or its affiliates, therefore Trump and his family are not liable for any responsibilities, and emphasizes that the project and tokens “are non-political and unrelated to any political movement.”
WLF claims to be a crypto bank that encourages customers to borrow and invest in digital currencies. The document released on Thursday defines net agreement revenue as the income WLF receives from “any source, including but not limited to platform usage fees, token sale revenue, advertising or other income sources” after deducting agreed expenses and WLF’s operational reserve funds.
The remaining 25% of net agreement revenue will be distributed to Axiom Management Group (AMG), a Puerto Rican company fully owned by co-founders Chase Herro and Zachary Folkman.