- Donald Trump’s WLFI token became a failure despite its initial hype.
- Only 4.24% of the token’s total supply was sold even after a full day of trading.
- The website’s inability to handle the traffic & speculations of a scam contributed to the project’s failure.
Donald Trump’s World Liberty Financial (WLFI) token has underperformed despite the initial hype. A significant amount of the token remained unsold, with only 4.24% sold on the first day. The website’s inability to handle traffic and rumors of a possible scam contributed to the project’s failure.
Trump launched the WLFI token on October 16, following his announcement of a decentralized finance (DeFi) venture, World Liberty Financial. The project’s buzz led to expectations of widespread adoption. However, the token underwhelmed after a full day of trading. Only 846.63 million tokens, valued at $12.7 million, were sold, representing just 4.24% of the total WLFI tokens in circulation, leaving 19.1 billion coins worth $287 million unsold.
Users reported that the website experienced technical issues, indicating it was not built to handle heavy traffic. Complaints from users suggested that the website displayed an error message—”this page isn’t working”—when they attempted to purchase tokens. Although the team has not provided an explanation, analysts believe the project wasn’t equipped for the surge in visitors.
The token’s downfall is also linked to widespread speculation that the project might be a scam. Some critics have raised concerns that the lack of transferability was intentionally downplayed, misleading buyers into purchasing more tokens than they would have otherwise.
Investors have also pointed to confusing purchasing procedures. Many were unclear about the meaning of terms like “accredited investors,” leaving some unsure whether they qualified. Another point of confusion was the term “living,” as investors were uncertain about the requirement of “living in America.”
Read also: Donald Trump Champions Bitcoin at Crypto Convention
Additionally, the WLFI token sale had limitations unlike typical crypto presales. While most presales allow anyone to purchase tokens, only accredited U.S. investors or non-residents could participate in the WLFI sale. Investors were also frustrated by the token’s non-transferability. Accredited investors are prohibited from transferring the token to non-accredited individuals, and international investors are restricted from selling the token to U.S. residents.
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