Trump-Linked WLFI Token’s $5.6B Valuation Raises Questions on Utility
World Liberty Financial's WLFI token has surged to a $5.6 billion market cap despite unclear fundamentals. The governance token, now tradable since September 1 after holder approval, lacks documented economic rights or revenue-sharing mechanisms. Its primary utility remains voting on proposals like the transferability decision.
Adjacent deliverables include USD1, a BitGo-custodied stablecoin, and a proposed AAVE v3 money market integration. The disconnect between valuation and shipped products mirrors broader crypto market trends where narrative often outpaces execution. Governance tokens continue facing scrutiny over sustainable value capture beyond speculative trading.