Donald Trump’s cryptocurrency project, World Liberty Financial, released a 13-page document on Thursday outlining its goals, token allocation, and the potential revenue distribution, which suggested that Trump and his family could receive 75% of the net profits.
The document, known as the “World Liberty Gold Paper,” revealed that the Trump family would be granted 22.5 billion “$WLFI” tokens, valued at $337.5 million based on the token price of 1.5 cents at the launch this week.
Despite being neck and neck with Vice President Kamala Harris in the presidential race, Trump has been actively promoting his cryptocurrency project for months, previously naming it “The DeFiant Ones” as a play on DeFi (decentralized finance).
The project recently launched the WLFI token and aimed to raise $300 million at a $1.5 billion valuation in its initial sale. However, only $12.9 million worth of tokens have been sold as of Thursday.
The released paper stated that Trump and his family would bear no liability and clarified that they have no operational roles within WLF or its affiliates. It emphasized that the project and tokens are apolitical and not associated with any political campaign.
WLF did not respond to requests for comment, while the Trump campaign directed inquiries to the Trump Organization, which did not immediately provide a response.
White papers are commonly released by cryptocurrency projects before launching their coins to inform investors about the mission, objectives, and token allocation. WLF’s paper outlined that a Delaware-based company linked to the former president, DT Marks DEFI LLC, is set to receive 75% of the net protocol revenues.
WLF positions itself as a crypto bank where users can engage in borrowing, lending, and investing in digital coins. The document explained net protocol revenue as income derived by WLF from various sources, including platform fees, token sales proceeds, and advertising revenue, after deducting expenses and reserves for ongoing operations.
Approximately $30 million of the initial revenue will be reserved to cover operational costs and financial obligations, with the remaining 25% of net protocol revenue allocated to Axiom Management Group (AMG), a Puerto Rico LLC owned by Chase Herro and Zachary Folkman, two co-founders of WLF.
AMG agreed to assign half of its net protocol revenue rights to a third LLC named WC Digital Fi, affiliated with Trump’s close friend and political donor, Steve Witkoff, and certain family members. Zachary Witkoff, son of Steve Witkoff, is also listed as a co-founder of the project.
The paper detailed that only 20% of WLF’s tokens would be allocated to the founding team, including the Trump family. It outlined the expected coin distribution, with 35% for the token sale, 32.5% for community growth and incentives, 30% for initial support allocation, and 2.5% for the team and advisors.
The document noted that the anticipated token distribution amounts are subject to change, and it did not specify which categories include Trump and his family.
Trump is referred to as the “chief crypto advocate” in the paper, while his three sons are described as “Web3 ambassadors.”
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