The Tokenomics of World Liberty Financial ($WLF)
Trump’s PolitiFi project that could put crypto at large in jeopardy.
Amidst the oncoming November election, interest rate reductions, and an intensifying conflict in the middle east, the universe loves to pepper a bit of randomness atop the trash fire that the world is quickly becoming.
The piece-de-resistance atop this shit sandwich of global affairs is none other than the launch of World Liberty Financial (WLF), a DeFi credit protocol forked from Aave and foreclosed Dough Finance led by the Trump family patriarchs: Donald Trump, Donald Trump Jr., Barron Trump, and Eric Trump.
The project’s association with the Trumps is not the only thing that makes it interesting. No, it’s the fact that…
- the chosen operators of WLF, Chase Herro & Zachary Folkman have the crypto track record equivalent to a shit streak in dirty draws;
- 70% of the non-transferable WLF token supply will be allocated to the founders, team, and service providers, and;
- yet still, 138k+ degens have joined WLF’s Telegram group, unable to conceal their hardened nipples beneath a mass, crypto-produced shirt with the words “Gimme That Alpha” across the chest.
So, let’s not waste time. Here’s DeFi’s next billion-dollar protocol: World Liberty Financial…
What is World Liberty Financial?
World Liberty Financial is a DeFi credit protocol focused on providing financial services to individuals excluded from traditional banking systems. WLF’s missions is to…
“Make crypto and America great by driving the mass adoption of stablecoins and decentralized finance. We believe that DeFi is the future, and we’re committed to making it accessible and secure for everyone.” — WFL Telegram
As one of the world’s first decentralized, nationalist DeFi protocols, WLF primary motivators is to create a financial system outside the grasp of “crooked banks and financial institutions rig the system against everyday Americans,” “put the power back in YOUR hands,” and, most importantly, ensure that “U.S.-pegged stablecoins to remain the world’s settlement layer for the next 100 years.”
Basically, WLF is Goldfinch, but replace the ‘finch’ with a big-ass American eagle humping a U.S. Dollar. I asked MidJourney to create an image of what this would look like, but it said it was against its policies.
Who’s Building World Liberty Financial?
WLF is being created by the biggest and best operators & advisors that crypto has to offer: Protocol deserts, pick-up artists, venture capitalists, anons, and lawyers. Dissidents of the new world looking to serve those most in need — everyday Americans.
The Operators
Beyond the Trumps, who serve as the foundation for WLF, are world-class operators Chase Herro (Head of Data Strategy) & Zachary Folkman (Head of Operations). Herro and Folkman previously co-led Dough Finance, a Defi credit protocol hacked for $1.8M in July 2024 via a flash loan exploit within the protocol’s smart contracts. Don’t worry, Dough Finance issued $DOUGH tokens, the protocol’s native token sporting a reasonable 50B token supply, for the dollar value of the missing funds. With an impressive market cap of, I-have-no-fucking-clue-because-I-couldn’t-find-one-anywhere-online, I’m certain many of the affected end-users more than recovered their losses.
Beyond their DeFi experience, Folkman is also registered as the owner of the World Liberty Financial LLC, has a history of ventures outside the crypto space, including founding Date Hotter Girls LLC and offering seminars on attracting women. I heard that if you have enough $DOUGH, you can get a discount to a Date Hotter Girls course.
The Advisors
Second to its Trump-backing, the most impressive team members on the WLF project are its advisors, consisting of Scroll’s Sandy Peng, Polychain’s Luke Pearson, The Crypto Lawyers’ Rafael Yakobi, GlueNet’s Ogle, PixelPlex’s Alexei Dulub, and a guy named Corey Caplan. Very few have developed a DeFi protocol before, or have a background in inclusive finance, but they all have hella followers on Twitter and some can even raise a shit load of money — so 5-star checks across the board.
The Auditors
WLF has claimed to be working with the top security experts in the world — Zokyo, Fuzzland, Peckshield, BlockSecTeam, and more in their Telegram group.
WFL Tokenomics
Finally, we get to the meat and potatoes of any crypto project — it’s tokenomics. Now many of you know that I don’t fuck around with tokenomics. Strong economic fundamentals make or break protocols, and, with increasing regulatory ire, substantiating utility is more complex than ever before. But, after seeing who’s executing WLF, I am confident we will see game theory like never deployed before. Vitalik is about to be jealous as hell.
Here’s the tokenomic TLDR:
Blockchain: Ethereum
Token: $WLFI (token non-transferrable)
- Core Development Team: 20% to 70% has been reported to be allocated to the founders, team, and service providers, with undisclosed portions of WLFI earmarked for the WLF Foundation, affiliates of the Trump Organization, and the Witkoff Group
- Community Sale: 62.66% will be distributed in token sale; token sale proceeds to go to treasury and the project’s founders, team, and service providers; WLFI sale will offered under an SEC Regulation D exemption with mandatory KYC
- Treasury: 17.33% will be earmarked for incentivizing the expansion of participation in the governance of World Liberty
- Supply: Unknown
- Utility: Governance of World Liberty Financial associated DeFi protocols that are TBA.
So there you have it! A non-transferable governance token being sold like a security to fund project opex, community expansion, and the founding team’s pockets. No need for secondary liquidity, because you’ll need IOUs to transfer token ownership, and no utility-driven incentives to maximize loan origination or repayment. Just raw, volunteer-based governance.
If you think about it, the model makes sense. Research shows less than 10% of token holders participate in votes, and fewer than 1% hold 90% of the voting power. This is the best I’ve seen in a long got-damn time!
WFL’s Impact on Crypto
The only critique the crypto world could muster up on such a spotless masterpiece of DeFi is how WLF could make crypto a partisan issue given polarizing sentiments toward Trump.
Nic Carter, a prominent crypto industry figure and Trump supporter, asked on X (formerly Twitter) after CoinDesk published its initial report on World Liberty Financial’s white paper.
The fact is, Democrats hate anything Trump does, and such an emboldened move to launch a DeFi protocol amidst a massively consequential, presidential election after four years of regulation-by-enforcement does not bode well if Trump loses the election.
Simply put, a Democratic-run SEC will be all over WLF’s ass, and crypto’s ass as a whole, and they will likely not elect to use the 1,000 bottles of baby oil seized from the Diddy raid when they get up in it.
Bonus: $WLF Scams the Media Fucked Up On
What’s worse than the lack of detail on WLF is the fact that multiple media outlets are hyperlinking the project to scam sites pretending to represent the project. Brave New Coin shat the bed by posting an entire article with the wrong site and token, which led me down a rabbit hole involving a Solana memecoin, a 1B $WL token supply, and a $800k+ scammer account using some mysterious memecoin generator called “Openbookdex.org” that I am certain is responsible for originating millions of dollars of pump-and-dump schemes on the network.
So if you like to read some crazy ass shit…here we go..
The REAL World Liberty Financial (Sarcasm, Don’t Sue)
DO NOT TRANSACT VIA ANY OF THESE FUCKING LINKS. THESE GO TO A SCAMMER MEMECOIN.As reported by Brave New Coin, the real WLF tokenomics boils down to $WL, a Solana-based token with a 1B token supply actively trading on Raydium. What’s most interesting about the $WL token, aside from the amazing project behind it, is it’s mysterious minter, who we’ll refer to as ‘Asshole,’ that’s associated with a $2M market-cap memecoin called $GOOFY and a bunch of Saudi Arabian X accounts.
The Origins of $WL
Now, Asshole received 1,088.711880849 SOL (~$157,939.43) from a token-strapped Solana address holding over $600k, 85% of which is in USDC.
The account seems to be a automated-trader account facilitating arbitrage between $WSOL, $USDC, $USDT, $RENDER and $WBTC on Jupiter and Raydium, given how often they trade across the two DEXs.
The account is also an owner of a System Program that holds over $1M USD worth of Solana tokens, including 500M worth of $GOOFY and 184 other tokens.
So what the fuck is $GOOFY?
$GOOFY, or more aptly named Goofy Doge, is a memecoin “pays tribute to the original World Cup mascot and provides an opportunity for those who missed the initial craze to experience its excitement.” This, of course, is complete bullshit because
- the original mascot of the World Cup was World Cup Willie in 1966, which was a lion wearing a Union Jack jersey emblazoned with the words “WORLD CUP,” and;
- the $GOOFY’s website looks like it was made by a schizophrenic crypto scammer with 15 days of web development experience.
The $GOOFY X (i.e., Twitter) account claims to be of Californian origin, but its first retweets are seemingly from Saudi nationals.
Somehow, due to dumbass crypto degens, $GOOFY has a $2M market cap.
So let’s see what the supposed World Liberty Financial smart contract developer, Asshole, was up to:
Asshole is very efficient at their work. In just two days, they
- Minted ~1B WL Tokens
- Created a Raydium SOL-WL Pool
- Wash traded their SOL-WL Pool 3 times with the entire token supply and 1k in SOL liquidity to manipulate the pool’s reported trading volume
- Burned all the pool’s LP tokens without redeeming the pool’s underlying liquidity.
Now, that last action Asshole took was extremely odd. Why would one burn all the Raydium SOL-WL LP tokens without receiving the underlying collateral back?
Instead, the Asshole transferred a very small amount of SOL to an account, which seems to be designed to burn tokens, given that its address is literally “burn68h9dS2tvZwtCFMt79SyaEgvqtcZZWJphizQxgt”. This ‘transfer’ was likely a contract interaction.
What is Asshole up to?
Come to find out, Solana has a few burner dApps specifically designed to burn SPL or LP tokens. Burning Solana LP tokens can helps maintain liquidity pool efficiency and may contribute toward the stability of the token. I guess there’s some cultural symbolism in the Solana community that projects burning their LP tokens are more trustworthy by allowing their tokens to be traded freely.
Specifically, there’s a tool called Openbookdex.org (now https://solauncher.org/) that allows anyone to do this THROUGH FUCKING RAYDIUM, which is likely what Asshole was doing the entire time, as there are many more contract calls their account makes before any direct Raydium account interactions in contrast to the number of contract interactions if they were using Raydium directly.
All the YouTube tutorials of Openbookdex use a robot AI voice and is hosted by a fake Solana Labs account…Even fucking crazier, when you read Openbookdex’s docs, the first sentence says
“Anyone can launch a meme coin on Solana using https://deploy.openbookdex.org/create/spl and can get their token trading on Raydium.io within minutes.”
It all started to become crystal clear — the Asshole very likely just used Openbookdex to create WL the entire time. So, WL is LITERALLY a memecoin made by a tool that likely has been instrumental in facilitating the vast majority of pump and dump schemes on Solana.
Although it SEEMS that the entire WL supply is locked in the Raydium SOL-WL pool, if the minter did not revoke the ‘mint authority’ of the SPL token, they can simply mint more when their team’s marketing evangelizes the WL token’s relevance to make back the $100k in liquidity they initially supplied to Raydium to create their own secondary token market. Even worse, if the minter didn’t revoke the ‘freeze authority’ feature of the SPL token, then they also have the ability to freeze holder accounts to prevent others from selling when they dump WL for SOL later on.
Of course, the remaining 81.38 SOL in the minter’s account was sent to another account, which has processed thousands of SOL (3200+ SOL, or nearly $500k). All of these funds, after being systematically transferred from account to account (typically indicating laundering, as there are many Jupiter DEX contract interactions throughout these transfer jumps), end here, an account that holds upwards of $859k. THE SAME DAMN ACCOUNT THAT OWNS THE 500M $GOOFY TOKENS.
So what does this mean?
The minter of WL, Asshole, is a memcoin scammer. Not only did they mint $GOOFY, but they also minted Nigachu (website here if you’d like to see something wild), which has a market cap of $72k.
