Justin Sun, Tron founder and crypto big shot, has been appointed as an advisor to World Liberty Financial (WLFI), a DeFi project backed by incoming US President Donald Trump. This comes after Sun invested $30M in WLFI making him the largest shareholder of the platform presently and cementing his influence in the evolving DeFi ecosystem.
Trump’s Pro-Crypto DeFi Initiative Gains Traction
World Liberty Financial is part of Trump’s pro-crypto agenda which was a key part of his presidential campaign. The project aims to change the game in DeFi by bringing in latest technologies and scaling the network to reach everyone in the world.
WLFI, the project’s governance token, allows holders to access DeFi features like borrowing, lending and governance decisions. So far, the project has sold $ 52 Million worth of tokens to US and international investors. Justin Sun himself has doubled the total sales of WLFI from $21M raised previously.
The underlying project is very far from the $300M goal to reach a valuation of $1.5B. The remaining funds will be allocated to development projects, including the stablecoin-powered credit cards.
Justin Sun’s Role and Influence
Justin Sun’s advisory role in WLFI is to enhance the platform’s credibility and capabilities. As the founder of Tron, one of the top 10 blockchain digital assets by market cap, he’s a blockchain and global market expert.
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His investment also reportedly triggers financial benefits for Trump’s family. According to WLFI’s white paper, if the project surpasses $30M in token sales, DT Marks DEFI LLC, Trump’s company, will get 75% of the platform’s net revenues going forward.
This is another big move for Sun who has been known for his bold and unconventional moves. He’s also an advisor to HTX (formerly Huobi) and a major backer of BitTorrent.
WLFI’s Tech and Challenges
World Liberty Financial recently integrated Chainlink’s infrastructure for on-chain data access and cross-chain connectivity. This is said to be a technical upgrade that will make the platform more attractive to institutional and retail investors.
However, amidst all this, WLFI is struggling to reach its fundraising targets. There are questions on the over-reliance on Trump’s endorsement and the revenue sharing model. Additionally, the crypto market is volatile so there’s a lot of uncertainty to this project.
Conclusion: Justin Sun and WLFI’s Future
The partnership between Justin Sun and World Liberty Financial may be exciting but the future is yet to be written. With Sun’s investment and expertise on board, the question is how will it reach its financial targets and deliver on the vision?
Now Sun is one of the big players in this crypto space. His track record of innovative investments and global influence may just decide WLFI’s and even Trump’s pro-crypto future.
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