The World Liberty Financial (WLFI) crypto project, backed by Donald Trump and his family, recently experienced a chaotic launch that highlighted the challenges it faces. Aiming to raise 300 million dollars, this ambitious project has been marred by technical issues and growing skepticism within the crypto community.
A chaotic launch and technical issues
The launch of WLFI was marked by major technical difficulties. From the moment the site opened, a wave of interest caused repeated outages, making access to the platform almost impossible for many investors. According to reports, the site recorded up to 72 million unique visits in the first hour, leading to saturation that caused prolonged outages. Despite these obstacles, around 344 million tokens were sold in the first few hours, but this was not enough to compensate for the users' frustrations.
This situation raised questions about the preparation and technical capability of the team behind the project. The problems encountered during the launch not only affected initial sales but also tarnished the project's image in the eyes of potential investors. The reputation of a crypto project often hinges on its ability to provide a smooth and reliable user experience, and WLFI seems to have failed on this crucial point.
Skepticism and conflicts of interest
Beyond the technical issues, the WLFI project faces growing skepticism among industry experts. Many analysts point out that Trump's involvement in the project could harm his credibility. Concerns about conflicts of interest are ubiquitous, especially considering that 70% of the tokens are allocated to insiders, which goes against the principles of decentralization that underpin the philosophy of cryptocurrencies.
Experts like Michael Dowling, a finance professor, have expressed their reservations about the project's viability due to the lackluster financial history of companies linked to Trump. Investors might hesitate to engage with a project that seems more focused on the personal profit of a small group than on genuine innovation in the field of decentralized finance. (DeFi). This perception could dampen enthusiasm around the WLFI and limit its adoption potential.
