World Liberty Financial, the DeFi project prominently supported by Donald Trump and his sons, began its token sale Tuesday morning—but it appears that overwhelming traffic has crashed its site.
The on-sale WLFI token will not be tradable and will act as the governance token for the soon-to-launch Ethereum decentralized protocol. People had been signing up for whitelist spots throughout September, which was only available to accredited investors in the U.S. along with any investors from outside of the States.
According to Etherscan, there are currently just over 3,500 token holders despite over 100,000 people being allowlisted according to the team. Due to the site crashing, this number is moving up incredibly slowly for one of the most-hyped project launches of the year.
The total token supply of WLFI is 100 billion tokens on Ethereum, with only 35 billion tokens on sale this time around.
For the last few hours, the World Liberty Financial site has been offline when most people have tried to access it, though as of this writing, it tosses up a user verification check before showing an error.
Despite this, it appears that the wallet that is taking in the token sales currently holds over $5 million worth of assets—not including the 47.5 billion WLFI it has. The only transactions that took place prior to the token sale were movements of WLFI and an insignificant amount of stablecoins.
World Liberty Financial and members of the Trump family have yet to issue statements Tuesday about the token sale or the site crash, leaving potential buyers in the dark about the status of the sale.
The project was first announced by Donald Trump’s son, Eric, back in August. It has since been revealed the project will center around borrowing and lending crypto services, aiming to “become the one-stop-shop for DeFi across the globe.”
Edited by Andrew Hayward