World Liberty Financial, the DeFi project partially owned by US President Donald Trump, has recently announced plans to allow transfers of its WLFI token. This move comes after investors voiced concerns about the lack of transparency and liquidity due to the current non-transferable state of the token.
WLFI serves as the core governance token for World Liberty Financial, giving holders the ability to vote on protocol upgrades and influence the platform’s direction. Despite the restrictions on transferring the token, select platforms like LBank have started offering WLFI in a pre-market environment, with the token currently trading around $1 and a daily trading volume nearing $5 million.
The decision to make WLFI transferable aligns with the project’s overall goal of improving its ecosystem. Co-founder Zak Folkman recently revealed plans to develop a mobile app aimed at enhancing retail users’ access to crypto tools and simplifying entry into the DeFi space for newcomers. Additionally, multiple public companies are considering adding WLFI to their crypto holdings, signaling growing institutional interest in the project.
In a move to further solidify its market potential, World Liberty Financial is also conducting an independent audit of its USD1 stablecoin. Folkman believes that the dollar-pegged asset has the potential to become the largest stablecoin by market cap, potentially surpassing Tether. With a current circulating supply estimated at $2.2 billion, USD1 was recently distributed to WLFI holders through an airdrop as part of a community incentive program.
The DeFi project’s progress and the growing interest from institutional players reflect a broader trend in traditional finance towards embracing crypto assets, especially under the current administration’s pro-crypto stance. As World Liberty Financial continues to make strides in enhancing its offerings and expanding its reach, the future looks promising for both the project and its investors.