The Trump family-backed cryptocurrency initiative, World Liberty Financial, is poised to launch its WLFI token presale on Tuesday, having whitelisted over 100,000 accredited investors from the United States.

The project aims to raise $300 million, assigning a valuation of $1.5 billion to the venture.

WLFI will act as a governance token for the platform, facilitating user involvement in borrowing, lending, and various DeFi activities.

The presale will kick off in U.S. morning hours on Tuesday, precisely three weeks prior to the presidential election where Donald Trump is the Republican candidate.

Trump serves as the 'chief crypto advocate' for the initiative. His sons, Eric and Donald Trump Jr., hold the title of 'web3 ambassadors,' while Barron Trump is designated as a 'DeFi visionary.'

In the U.S., accredited investors are permitted by the Securities and Exchange Commission to invest in unregistered securities such as pre-IPO shares, with specific criteria to meet, including annual earnings of $200,000 and total assets exceeding $1 million.

Zachary Folkman and Chase Herro, the founders, noted that non-U.S. investors had to comply with local regulations before being whitelisted. Several notable crypto figures were also present during the announcement, including Stani Kulechov, founder of Aave, Sandy Peng, co-founder of the layer-2 network Scroll, and Luke Pearson, a senior cryptographer from Polychain Capital.

The fundraising efforts aim to collect $300 million from the token sales, with WLFI serving as the governance token enabling users to vote on protocol changes and future strategies. World Liberty Financial will offer a cohesive platform to borrow and lend cryptocurrencies, create liquidity pools, and transact with stablecoins, as stated by Folkman and Herro.

All governance decisions will align with U.S. regulations to maintain compliance.

Donald Trump, who has previously experimented with NFTs and held ETH in a public wallet, has pledged to position America as a leading nation for Bitcoin and cryptocurrencies if elected. His potential victory is largely viewed as favorable for the crypto industry compared to Kamala Harris, the Democrat candidate, who is perceived as less crypto-friendly.

As of now, Trump is regarded as a slight favorite in the election, with Polymarket estimating his chances at 53.8%, as opposed to 45.6% for Harris.