Financial project World Liberty has sparked controversy over token allocation
Financial project World Liberty has sparked controversy over token allocation
World Liberty Financial (WLFI), a cryptocurrency project allegedly linked to the Trump family, has attracted attention after it was revealed that 70% of its tokens are distributed to founders, team members and service providers.
“The remaining 30% will be distributed through a public sale,” TU Crypto News reported.
This significant reservation of tokens has raised concerns and led to speculation about the project's intentions and overall transparency.
The project, which has yet to launch, is looking to position itself as a major player in the cryptocurrency space. However, questions surrounding the distribution of its tokens have led to public skepticism. In response, WLFI released a statement on social media in an attempt to dispel the growing fears.
“Rumors are spreading, but here is the real story of World Liberty Financial (WLFI). We recognize the magnitude of what we are creating and the potential impact it will have on both cryptocurrency and our country, especially in the lead up to the election,” the statement reads.
While the project has emphasized its commitment to security, saying it has enlisted top security experts to vet its code, there are lingering concerns. WLFI has been identified as a fork of Dough Finance, a cryptocurrency that was previously hacked, raising concerns about its security structure. Despite this, WLFI has assured potential users that their security is a top priority.
The WLFI token is also reportedly non-transferable, which restricts it from being exchanged or traded on typical cryptocurrency markets. This unusual decision has added another layer of uncertainty for potential investors, as non-transferable tokens often reduce liquidity and flexibility in the market.
The connection to Trump's family and the timing of the project, which coincides with the upcoming US election, further heightens public interest. Despite this, WLFI developers say the project will have far-reaching implications for the cryptocurrency landscape and broader economic implications.
As more details emerge, observers will be watching closely to see how WLFI handles these initial challenges and whether it can gain credibility within the crypto community.
