Trump family's DeFi project raises eyebrows with token distribution plan
CryptoNewsTerminal Staff05 Sep, 2024
Trump family's DeFi project raises eyebrows with token distribution plan
The Trump family's cryptocurrency project, World Liberty Financial, has released a white paper that has raised eyebrows due to its token distribution plan. According to CoinDesk, the white paper states that up to 70% of the project's tokens will be distributed to project insiders, including founders, team members, and service providers. The remaining 30% will be available for public sale, with the proceeds from the public sale going to a treasury for the project's insiders and operations. This token distribution plan has been criticized by some as being unfair, as it gives a large share of the project's tokens to a small group of people. However, a project representative said that "this is still in the planning stages and nothing is set in stone". It is important to note that the Trump family's DeFi project is still in its early stages, and it is possible that the token distribution plan could change. However, the current plan has raised some concerns, and it will be interesting to see how it develops in the future.
