World Liberty Financial, the decentralized financial platform associated with the family of US President Donald Trump, has unveiled a proposal with which his WLFI Governance can be transferred and tradable over the broader crypto market.
Currently locked up in its own protocol, the WLFI token cannot be traded externally, reducing price discovery and the participation in governance. The team initially hinted on the new proposal last month.
The new proposal is intended to move the project to a more open and decentralized model by making token trade on secondary markets such as decentralized fairs and peer-to-peer platforms possible.
If the community endorses the plan, holders of WLFI -Tokens will have extensive voting powers about important areas, including token emissions, ecosystem stimuli and treasury management.
The initiative is because Trump’s deep involvement in digital assets continues to criticize democratic legislators, who have expressed concern about possible conflicts of interest. Transition from WLFI to a decentralized structure can illuminate part of the political pressure that is currently blocking extensive crypto regulation efforts in the congress.
The Trump family recently reduced his ownership interest in World Liberty Financial by 20%, at an initial 75% retained. Financial disclosures submitted in June showed that President Trump had only registered $ 57 million in profit from WLFI alone.
About his broader digital activa portfolio, including the official Trump Memecoin, non-fungal token sales and interests in other cryptocurrencies, Trump’s assets with an estimated $ 620 million has grown. Digital assets are now good for around 9% of its total fortune of $ 6.4 billion.
In June, the Democratic Congressman Adam Schiff introduced the Coin Act in response to the Crypto companies of the President. The law wants to prohibit the president, officials of the executive power and their immediate families to spend specific cryptocurrencies or promote during his office.
WLFI also performs an independent audit of his USD1 Stablecoin, which is seen as a strong potential to become an important player in the market. USD1 currently has a circulating stock of $ 2.2 billion and has recently been highlighted to WLFI holders to test distribution in chains.
