Cherish life, stay away from WLFI.

Compiled by: Tim, PANews

I feel like the people in this ecosystem have short memories. Do you remember how we were left with nothing by TRUMP? If you've forgotten, the current situation is a typical example.

Compared to what they are doing now with WLFI, TRUMP is nothing. I've seen too many warning signs to list them all here; otherwise, I could write a book. Here are just a few examples that explain why you should stay away from this project.

1. Team

When I first saw that image, I wondered why there are nine co-founders? That raises suspicion.

Not a single person on this team inspires confidence. Clearly, the Trump family is just marketing the facade here; they are purely a communication tool with no signs of involvement in operations or technical work. It's obvious they don't understand the business at all, but they definitely know how to profit from it.

Zach Witkoff has received special attention due to his political identity; his company facilitated a $2 billion deal with MGX (UAE Fund) through the USD1 stablecoin. This raises concerns about "money for privilege."

Chase Herro is more well-known in the crypto circle. He calls himself "internet scum," has been imprisoned for drug charges, initiated multiple projects that ultimately turned into scams or were attacked, and sold "get rich quick" courses. This is not the ideal co-founder for your project.

Then there's Zach Folkman, whose background is very similar to Herro's. He was involved in the Dough Finance project, which experienced a significant DeFi vulnerability incident. Overall, he is a controversial entrepreneur who even held dating "pickup" workshops.

Among the nine co-founders, seven are billionaire's sons, and the other two have questionable backgrounds—far from a dream team.

2. Lies

The worst part is that they make you believe this is a project designed and operated by the Trump family, but it is not. They are merely marketing figures to make you feel secure. Their own disclosures basically indicate this.

Furthermore: the Trump family does not bear contractual responsibility. Legally, they are not liable. If someone runs off with the money tomorrow, the Trump family can legally distance themselves, and you cannot hold them accountable.

So who is responsible?

Not surprisingly, it is Chase Herro and Zak Folkman, specifically their entity Axiom in Puerto Rico.

Although the Trump family does not bear legal responsibility, they hold 22.5% of the supply share and receive 75% of the profits. The Witkoff family receives 7.5% of the supply share and 25% of the profits.

Herro and Folkman can also benefit from the token distribution (without directly participating in revenue sharing). Essentially, it is two people skilled at extracting profits who have reached an agreement with the Trump family. The Trump family takes the largest slice of the cake, while these two can only get the leftovers, but even those leftovers are still quite substantial for them.

3. WLFI Token

To be honest, this token is a joke. Six people hold 40% of the total supply, which is textbook centralization. Over 60% of the supply is held by fewer than 10 wallets, and it is controlled through multi-signature.

At the time of issuance, only 25% of the supply was in circulation. Coupled with a large number of tokens concentrated in a few hands, this led to extreme volatility and fragility in the market.

In the first few hours, there was a massive liquidation of contracts, during which insiders sold off large amounts, cashing out hundreds of millions of dollars in just a few hours.

The token distribution process lacks transparency. Most tokens were actually available shortly after launch, allowing insiders to sell off freely at any time.

Utility? Essentially zero. It claims to be a "governance token," but beyond that, it has no clear function: no profit sharing, no fee discounts, no yield returns, nothing. Moreover, the official website clearly states that they can temporarily or permanently restrict your governance rights at any time, which means the governance is essentially meaningless.

Some of you might suggest using 100% of the protocol fees for buybacks. If you cheer for that, remember that 60% of the supply is controlled by insiders. In any case, they can profit; when the WLFI token price rises, their holdings will appreciate, allowing them to cash out at a higher price.

4. USD1 Token

USD1 is the stablecoin issued by WLFI, and just looking at its logo shows this is a joke.

Seriously, can't they put in a little more effort? It looks like something a seven-year-old would make.

USD1 has a market cap of $2.7 billion, making it one of the largest stablecoins, but this mainly comes from capital allocation by large institutions, not real user demand. Its 93% value is concentrated on Binance, meaning this stablecoin has not achieved actual usage.

What shocked me the most is that the wallet deploying USD1 on Solana also deployed other nearly worthless tokens with almost no trading volume. They didn't even bother to use a new address to cleanly deploy USD1; instead, they used an address already associated with junk tokens, which speaks volumes.

5. Website

If you still have doubts, the simplest way is to check the disclosures on the website. That is the only place they might be somewhat honest. You will quickly find that they are trying to shirk responsibility, basically telling you that this project is unreliable, and if something goes wrong, don't be surprised.

The website is filled with errors, broken links, typos, and layout issues… The site is poorly done, lacking professionalism, and exuding a sense of carelessness.

Conclusion

WLFI is essentially TRUMP 2.0, a highly centralized meme coin that is useless and offers zero innovation apart from exorbitant profits. Its sole purpose is to make the already wealthy even wealthier. In just one day of research, I found about 20 warning signs, and to keep the article concise, even more signs were left unlisted.

My advice is: stay away. If you profit, take your profits and leave.

The hype around this thing is purely due to the Trump brand effect. But honestly, even if you had Trump explain what his own project is about, he probably wouldn't be able to clarify it.

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