WLFI Token Presale Cut by 90% Amid Uncertain Demand

WLFI Token Sale Decline. Source: Etherscan

The SEC‘s mention of over $2.7 million in sales does seem to be a slight discrepancy. However, World Liberty’s official site claims that these tokens sell for $0.15, and that it sold just shy of a billion. The SEC document lists $285,797,402 as the value of remaining WLFI tokens, so theyve sold a hair under $15 million so far. These figures, at least, all add up.

In other words, it‘s presently unclear if World Liberty hopes to sell an additional $15 million or $28 million before canceling the sale. Whatever the case, crypto investors’ skepticism of the project seems well-founded. The purchased WLFI tokens are frozen for current holders, so holders cant cash out for more fungible assets.

Indeed, current WLFI holders own nothing more than “a governance token for [an] as-yet unlaunched protocol,” as Galaxy Digital stated. World Liberty attempted a launch on Aave‘s Ethereum mainnet, but there doesn’t seem to be any progress with the negotiations. With failed expectations and disappointing sales, WLFI might never get off the ground.