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The World Liberty Financial token nosedived after being listed for spot trading yesterday, with early holders reporting problems accessing their funds.\n<\/p>\n
The native token of the DeFi project directly connected to the Trump family<\/a>, World Liberty Financial (WLFI), has nosedived nearly 20% in its first 24 hours of trading. The token\u2019s listing for spot trading was accompanied by reports that some presale holders had trouble unlocking allocations.<\/p>\n WLFI was trading around $0.40 in pre-markets and then briefly popped above $0.44 when spot trading launched on multiple major crypto exchanges on Monday, Sept. 1. Within a few hours, however, it slid into the low $0.20 range and eventually settled around $0.23<\/a>, where it’s trading at press time.<\/p>\n The WLFI token unlock was the result of a July governance vote that cleared a path<\/a> to tradability for roughly 24.7 billion tokens. The change effectively set a market price for what had previously operated only as voting rights inside the World Liberty Financial ecosystem.<\/p>\n But the unlock didn\u2019t go smoothly for all holders. Prior to it, many users reported<\/a> errors and connection failures on the project\u2019s governance forum to get access to Lockbox, a smart contract designed to temporarily hold tokens, allowing users to unlock them for transfer and trading. The WLFI team acknowledged<\/a> the issues but didn\u2019t provide details on what caused them.<\/p>\n Launched last year, World Liberty Financial positions itself as a decentralized finance company that looks to blend TradFi and crypto. The project was co-founded<\/a> by multiple members of the Trump family, including two of President Donald Trump\u2019s sons, Eric and Donald Jr.<\/p>\n Following WLFI\u2019s listing on crypto exchanges yesterday, the token community proposed<\/a> using all fees from the project\u2019s own liquidity to buy back and burn WLFI tokens.<\/p>\n The move would permanently remove those tokens from circulation, rewarding long-term holders, and all burns would be tracked on-chain for transparency. If approved, it could kick off an ongoing program to keep buying and burning more WLFI as the ecosystem grows.<\/p>\n