Donald Trump’s cryptocurrency initiative, World Liberty Financial (WLF), released a 13-page document on Thursday outlining its objectives, token allocation strategies, and the potential for Trump and his family to receive up to 75% of the net revenue. This document, referred to as the “World Liberty Gold Paper,” states that the Trump family will be allocated 22.5 billion “$WLFI” tokens, valued at $337.5 million based on the token’s launch price of 1.5 cents each.
As the election campaign reaches its final stages, Trump, who is nearly tied with Vice President Kamala Harris, has devoted significant effort to promoting his crypto project. Initially branded as “The DeFiant Ones” in reference to decentralized finance (DeFi), the project launched the WLFI token on Tuesday. During this launch, a roadmap was shared with the goal of raising $300 million at a $1.5 billion valuation through the initial sale, although as of Thursday, only $12.9 million worth of tokens had been sold according to the project’s website.
The Thursday document clarifies that Trump and his family hold no official role in WLF, stating they are not directors, employees, managers, or operators of the organization or its affiliates. Additionally, the project and the tokens are described as non-political and unaffiliated with any political campaign.
Requests for comments made to both WLF and the Trump campaign did not receive immediate responses. Typically, cryptocurrency projects release white papers to provide investors with information about their missions, objectives, and token allocation strategies prior to launching. WLF’s document indicates that a Delaware-based company, DT Marks DEFI LLC, connected to Trump, is to receive 75% of the net protocol revenues.
WLF presents itself as a crypto bank offering borrowing, lending, and investment services in digital coins. The document defines net protocol revenue as earnings from various sources such as platform use fees, token sales, advertising, and other revenue streams, minus agreed expenses and reserves for ongoing operations. It allocates $30 million of initial revenue to a reserve for operational and financial obligations.
The remaining 25% of net protocol revenue is designated for Axiom Management Group (AMG), a Puerto Rico LLC owned by co-founders Chase Herro and Zachary Folkman. Folkman previously ran a company called Date Hotter Girls and contributed to developing Dough Finance, while Herro previously launched Pacer Capital, a now-defunct crypto trading business.
AMG has agreed to assign half of its rights to net protocol revenues to WC Digital Fi, an affiliate of Trump’s associate and political donor Steve Witkoff, and his family members. Steve Witkoff’s son, Zachary, is listed as a co-founder of the project.
Folkman had earlier stated that 20% of WLF’s tokens were intended for the founding team, including the Trump family. The document details expected token allocation: 35% for the token sale, 32.5% for community growth and incentives, 30% for initial support allocation, and 2.5% for team and advisors. However, it notes that these distribution amounts may change, and it is unclear under which categories Trump and his family fall.
The document describes Trump as the “chief crypto advocate” and his three sons as “Web3 ambassadors.”
