Original author: 0xjs
Reprint: Lawrence
Since former United States President Donald Trump fully switched to crypto, Trump's pro-crypto rhetoric has been commonplace.
But since September 2024, Trump has personally supported the DeFi project World Liberty Financial, and even posted a promotion on the official account of his nearly 100 million followers from time to time, which still amazes industry insiders.
不仅如此，加密行业知名机构和项目也再不断卷入其中，如 Polychain Capital 的 Luke Pearson、Scroll 的 Sandy Peng、Tomo Wallet 的 Ryan Fang 以及 Paxos 的 Rich Teo 均成为 World Liberty Financial 顾问或者团队成员。
2024 年 10 月 15 晚 World Liberty Financial 正式开始公售,World Liberty Financial 面纱终于浮出水面。
金色财经记者深扒了 World Liberty Financial，总结了你需要了解的关于 World Liberty Financial 的一切。
World Liberty Financial 是什么？
According to World Liberty Financial's official profile, World Liberty Financial describes itself as inspired by Trump to drive mass adoption of stablecoins and DeFi, especially dollar stablecoins, to ensure the dominance of the dollar. A key part of World Liberty Financial is leveraging the global reach and popularity of the Trump brand to bring as many Web2 users into the Web3 world as possible.
As a result, World Liberty Financial will be a DeFi platform where users can borrow and lend cryptocurrencies, create liquidity pools, and trade using stablecoins.
According to World Liberty Financial's proposal at the Aave Governance Forum, World Liberty Financial is asking for a temperature check on the motion to deploy Aave V3 instances, which will allow four cryptocurrencies, USDC, USDT, ETH, and WBTC, to be borrowed as collateral assets. World Liberty Financial will provide 7% of its token supply to the Aave DAO (worth $105 million) for governance and liquidity, while also providing 20% of the fees that its platform continues to generate.
According to public information, the first phase of World Liberty Financial is to launch a version of Aave on Scroll, an Ethereum layer 2 network, allowing users to lend and borrow tokens.
World Liberty Financial 与特朗普家族深度绑定
When the outside world talks about World Liberty Financial, it usually adds a prefix, that is, "Trump family backed" World Liberty Financial.
This is so because World Liberty Financial is deeply tied to the Trump family.
特朗普多次在社交媒体发文推介 World Liberty Financial，并自称是 World Liberty Financial 项目的「首席加密货币倡导者（Chief Crypto Advocate）」。
特朗普的两个大儿子小唐纳德 (Donald Jr.) 和埃里克 (Eric Donald) 共同担任 World Liberty Financial 的「Web 3 大使」，其 18 岁的小儿子巴伦·特朗普 (Barron Trump) 则是 World Liberty Financial 的「DeFi 远见者（DeFi visionary）」。
Although World Liberty Financial is deeply tied to the Trump family, by all indications, World Liberty Financial is more of an OEM product for the Trump family. The Trump family launched a brand and made money, and unknown traders borrowed the Trump family's reputation to launch products.
This seems to be a very common business operation for the Trump family. For example, many Trump hotels or buildings around the world that bear Trump's name are licensed and OEM with Trump. In addition to real estate, Trump continues to license Trump's naming rights to other areas such as perfumes, steaks and mineral waters. Trump's daughter, Ivanka, is also an OEM regular.
疑似 OEM 的 World Liberty Financial
据 World Liberty Financial 白皮书，DT Marks DEFI LLC 同意尽合理努力要求 DT Marks DEFI LLC 的所有者和负责人，包括唐纳德·特朗普，偶尔为 WLF 和 World Liberty Financial 协议进行推广，同时授予 World Liberty Financial 及其相关实体使用 DT Marks DEFI 所有者的名字和肖像进行宣传的权利和许可（grant WLF and certain related parties the right and license to use the name image and likeness of the owners and principals of DT Marks DEFI LLC）。
And so it is, Trump's photo appears on page 11 of the 13-page White Paper at World Liberty Financial, which is also endorsed by the Trump family.
World Liberty Financial 白皮书封面
In return, World Liberty Financial agreed that DT Marks DEFI LLC would receive 22.5 billion WLFI tokens and would be entitled to receive 75% of the protocol's net revenue, which is determined after deducting agreed operating expenses and initial treasury reserves. The Service Agreement may be terminated by DT Marks DEFI LLC for "good cause" under certain conditions, or by non-renewal at the end of the initial 5-year period.
Whereas, DT Marks DEFI LLC is a Delaware limited liability company (of which Trump is one of the owners) and its affiliated entities have received or may receive compensation for services rendered to World Liberty Financial and its affiliates. These services are provided under a service agreement with Axiom Management Group, LLC ("AMG"), a Puerto Rico limited liability company wholly owned by Chase Herro and Zachary Folkman, and World Liberty Financial was formed under the direction of the principals of AMG. AMG is entitled to receive 7.5 billion WLFI tokens and 25% of the protocol's net revenue, but agrees to allocate 50% of it to WC Digital Fi LLC, an affiliate of Steve Witkoff and some of his family members.
再看看 World Liberty Financial 团队成员。
World Liberty Financial 联合创始人 Chase Herro、Zak Folkman 拥有 AMG，可以获得 75 亿枚 WLFI 代币和 World Liberty Financial 协议净收入的 25% 中的一半，另一半代币和协议收入归另一联合创始人 Steven Witkoff 一家（联合创始人 Steven Witkoff、Zach Witkoff、Alex Witkoff）。
World Liberty Financial 幕后操盘人
World Liberty Financial 联合创始人 Chase Herro、Zak Folkman 虽然曾从事加密行业，但在加密世界并不出名。
According to CoinDesk, Chase Herro and Zak Folkman previously developed DeFi product Dough Finance, but failed to gain traction and was hacked in the summer of 2024, losing $2 million. Chase Herro and Zak Folkman also co-founded creator platform Subify, which bills itself as a censorship-free competitor to the industry's well-known creator platforms Patreon and OnlyFans. Folkman had earlier registered a company called Date Hotter Girls LLC and posted on YouTube how to pick up women.
The head of blockchain at World Liberty Financial is Octavian Lojnita. According to Octavian Lojnita's online resume, he is from Romania and is a full-stack developer. Octavian Lojnita previously worked at Dough Finance. Boga, an anonymous front-end developer at World Liberty Financial, is listed as the author (under 0xboga) in Dough Finance's source code.
Coindesk 还报道称，World Liberty Financial 曾在 GitHub 上发布代码库，后来被删除。 对其代码库的审查表明，World Liberty Financial（至少在早期阶段）似乎直接从 Dough Finance 拷贝了代码。
But on September 4, 2024, World Liberty Financial posted on X that World Liberty Financial did not want to take any risks and that its code "has been thoroughly reviewed by audit firms such as BlockSec, Fuzzland, PeckShield, Zokyo, and others."
尽管 World Liberty Financial 已经在官网开始向公众公售治理代币 WLFI，但 World Liberty Financial 协议和应用尚未推出。 目前尚不确认 World Liberty Financial 的后续版本是否包含 Dough Finance 早期的代码或者漏洞。
World Liberty Financial 另三个联合创始人是 Steven Witkoff 一家。 据公开资料，Steven Witkoff 是知名房地产开发商、特朗普的老朋友。
WLFI Token Information
WLFI token price: $0.015
Public Sale: 20 billion (equivalent to $300 million)
Sold: Only 723 million units (about $10 million) have been sold as of press time, with 19.2 billion remaining for sale
Total Supply: 100 billion
FDV: $1.5 billion
合约地址:0xda5e1988097297dcdc1f90d4dfe7909e847cbef6
WLFI Token Distribution:
- 35% Token Sale: A significant percentage of WLFI tokens will be distributed to eligible participants through the token sale, prompting them to participate broadly in the decision-making and growth of the WLF protocol.
- 32.5% Community Growth & Incentive: This portion will be reserved for expanding the WLF community's governance participation and supporting the construction of the WLF protocol.
- 30% Initial Backer Distribution: This part of the token is distributed to the initial backers (22.5 billion + 7.5 billion, which has already been allocated to Trump and the World Liberty Financial trading team).
- 2.5% Team & Advisors: This portion of the token will be used to reward the core team, advisors, service providers, and those who have contributed to the development of the WLF protocol
There is also a special thing about the World Liberty Financial token WLFI: the token status is non-transferable and locked in a wallet or smart contract indefinitely. Users should treat the purchase of WLFI tokens as other non-refundable purchases of goods and services.
World Liberty Financial claims that if it wishes to unlock the transferability of WLFI through the protocol governance process in the future, such unlocking will only be permitted if it is determined that it does not violate applicable law, and only more than 12 months after the completion of the token sale. WLFI holders should assume that the token is non-transferable indefinitely. World Liberty Financial also has no plans to create a secondary market for WLFI tokens.
The reason why WLFI tokens are non-transferable may be to circumvent regulation. The move is intended to make WLFI look less like a security in the eyes of regulators, as it makes it difficult for the asset to be bought and sold like other crypto tokens.
In addition to the non-transfer of tokens, World Liberty Financial traders have been clever and have made a number of moves in advance to evade the supervision of United States law enforcement authorities.
How WLFI tokens circumvent United States regulation
The first is the requirements of investors. Given Trump's enormous influence in the United States, World Liberty Financial is targeting Americans first. World Liberty Financial requires United States participating in investments to be "accredited investors" as defined by Regulation D and undergo KYC procedures. For overseas investors, KYC is also required and tokens are offered and sold in a manner that complies with the safe harbor conditions set forth in Section 506(c) of the Securities Act.
Secondly, in terms of token utility. According to the official website of World Liberty Financial, World Liberty Financial has made special treatment for the utility of its WLFI tokens, requiring WLFI tokens to:
- For governance purposes only. The sole purpose of holding WLFI is governance, not any investment. As a token holder, you will only have the right to propose and vote on proposals that will help shape the future of the World Liberty Financial protocol, including decisions about marketing plans, future features, and more.
- No economic rights. The Tokens do not confer any rights, express or implied, other than the right to use the Tokens as a means of participating in the governance of the WLF Protocol through the WLF Governance Platform. WLF Tokens do not represent or confer any ownership or shares, shares or guarantees or equivalent rights, or any right to receive any distribution, revenue share, additional tokens, intellectual property or any other form of participation in or in connection with the WLF Agreement and/or the Company and its corporate affiliates.
- Non-transferable. All WLFIs are non-transferable and locked in wallets or smart contracts indefinitely. Users should treat the purchase of WLFI tokens as other non-refundable purchases of goods and services and accept the risk. If in the future it is hoped that the transferability of WLFI will be unlocked through the protocol governance process, such unlocking will only be permitted if it is determined that it does not violate applicable law, which must be more than 12 months after the completion of the token sale. WLFI holders should assume that the token is non-transferable indefinitely. Since the tokens are non-transferable, the World Liberty Financial protocol has not taken any action and does not plan to create a secondary market for the tokens.
World Liberty Financial also makes a strict distinction between the WLFI token, the WLF governance platform, and the WLF protocol. The WLFI token does not provide any economic or other rights related to the WLF protocol or otherwise. As such, there is no right to receive any fees incurred by the WLF Agreement or earned by the Company.
World Liberty Financial specifically states that WLFI tokens are not intended to be digital currencies, securities, derivatives, transferable cryptoassets, or any other type of financial instrument. Tokens cannot be transferred or sold in exchange for money or other assets (including crypto assets), nor can they be used to purchase goods or services from any party.
epilogue
种种迹象表明，World Liberty Financial 像是特朗普家族 OEM 下的 DeFi 产品。
The real trading team behind World Liberty Financial also has a "black" history, and the WLFI token is fully locked, with no secondary market and no liquidity, which has caused the public sale of WLFI tokens to progress slowly, only $10 million sold. Far from matching Trump's momentum.
But that doesn't negate the possibility of future success for World Liberty Financial. Because after all, the United States will hold a general election in three weeks, and Trump is very likely to be in the White House again.
Based on Trump's attitude towards crypto, his interests in the WLF, and his appeal to United States and people around the world, the world's crypto population is also likely to jump to 1 billion in the next four years.
With this huge amount of traffic and Trump's endorsement, OEMs could also be successful. Just as Trump sells other products from naming rights OEMs.