Donald Trump decentralized financial projects seems to have a slow beginning, with just over 4% of its tokens purchased on its first day.
According to Dune data, only 819 million out of the 20 billion tokens offered by World Liberty Financial have been bought so far as seen by us—or just over little $12 million in sales.
World Liberty Financial launched on Tuesday, targeting accredited investors in the United states(U.S.). The team behind the project hopes that eventually in the future all the United states citizens will be able to participate.
Trump token launch
As of now, although only well-off investors can get in on the action because of stringent SEC requirements, which also includes having a net worth which is less primary home value having at least $1 million value , and an annual salary of at least $200,000 solo or $300,000 if they are married over the past two years with an expectation of retaining that streak in the current year.
Some analysts suggested that such requirements may have been to the detriment of the project.
Nansen analyst Edward Wilson told Decrypt in an emailed statement that it was “surprising” that the launch was so much underwhelming while considering that Trump has also branded himself as a fiercely crypto-friendly candidate in the next month’s election.
“This might suggest that Trump’s core audience isn’t as engaged with crypto as expected, possibly due to limitations on retail investors participating,” said Wilson.
“While this is an understandable barrier, it raises questions about the broader interest in the space from this demographic,” he continued. “However, the initial target valuation of $1.5 billion will most likely [have] had a greater impact and turned off many speculators within crypto as they are likely going to find greater returns elsewhere.”
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The launch was also affected on Tuesday by what seemed to be a website crash, possibly due to high demand. The World Liberty Financial website was down for hours in the morning, which may have impacted early sales as potential buyers were unable to access it. The project mentioned that over 100,000 people were on the allow list, indicating strong interest in the token.
However, the technical issues, coupled with the restrictive SEC regulations, appear to have limited the project’s early momentum. While the team behind World Liberty Financial had hoped to see a smooth rollout, these challenges might have dampened the excitement. The lack of accessibility and potential frustration among prospective buyers could also have contributed to the slow uptake of the tokens.
Decrypt reached out to World Liberty Financial for a comment on Tuesday but did not receive a response. It remains to be seen if these issues will be resolved in the coming days, and whether the project will pick up momentum as more investors gain access. The hope is that future launches will be smoother financial statements, giving all accredited investors the chance to participate without any hindrances.
World Liberty Financial is an Ethereum-based (DeFi) project that, according to Donald Trump, aims to “help make America the crypto capital of the world.”
When Eric Trump, the former president’s son, first announced the project in August, details were scarce. However, in an exclusive interview with Rug Radio (Decrypt’s sister company), the project team revealed that it would offer borrowing and lending services in the crypto space.
Many DeFi projects allow investors to earn interest on their crypto holdings and potentially make substantial returns, but this sub-sector of the digital asset industry remains highly risky and susceptible to hacks.
Donald Trump has been courting digital asset investors by stating that all future Bitcoin should be mined on U.S. soil. He also mentioned that if elected, he would remove Gary Gensler, the SEC’s chairman, who has taken a tough stance on crypto. This marks a significant departure from Trump’s previous views, as he once said he was “not a fan” of Bitcoin and suggested it was a scam.
