Trump Introduces $WLFI Token

MSTR $700M Notes | WalletConnect launches $WCT

The Launchy Team
September 18, 2024

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Good Morning.

Marco and Karon are in Singapore for Token 2049. Today’s issue is written by the Launchy Team.

Bitcoin is up 6% from the last 7 days, prices generally trended upwards throughout the week, recovering from the early losses and ultimately closing higher. So far, positive week for Bitcoin, with the price showing resilience and ending the period with a gain.

In Today's Email:

What Matters: Trump’s WLF introduces $WLFI token 🇺🇲
Case Study: Binance's TON tokens listing and future outlook 🔍️
Governance & Features: WalletConnect launches $WCT 🪙

You read and share. We listen and improve. Send us feedback at marco@launchy.app.

Narratives: MicroStrategy plans to sell $700M more in convertible senior notes to finance additional Bitcoin purchases.

For daily market updates and airdrop alphas, check out our telegram!

Want to keep tracks of crypto metrics such as app store ranking, sentiment, and altcoin market cap? Check out our new tg channel.

WHAT MATTERS

Trump’s World Liberty Financial Introduces $WLFI Token

.@worldlibertyfi
— Donald J. Trump (@realDonaldTrump)
7:21 PM • Sep 12, 2024

State of play: Donald Trump officially unveiled his crypto project, World Liberty Financial (WLF), which aims to disrupt the lending market by leveraging DeFi, with plans to issue the $WLFI governance token, limited to accredited investors.

Trump said his NFT projects sparked his interest in crypto, and his children opened his eyes to the potential of crypto.
WLF is built on Aave and focuses on the adoption of DeFi and stablecoin.
WLF also said it is making security a top concern.
$WLFI is a non-transferable governance token limited to accredited investors.
WLFI will be distributed as follows: 63% will be sold to the public, 17% for user rewards, and 20% for team compensation.

What’s next: Trump’s involvement in WLF highlights DeFi and stablecoin adoption, potentially influencing crypto regulations.

Why it matters: As a presidential candidate, Trump’s project could shape how governance tokens like WLFI evolve under stricter regulatory conditions.

Our take: The involvement of high-profile figures like Trump adds legitimacy but also scrutiny, making WLF’s progress crucial for the broader crypto ecosystem.

For builders and investors: Seiberg noted that if Trump wins, crypto market structure legislation is less likely due to Democrats' reluctance to support bills benefiting the Trump family.

CASE STUDY

Binance's Rapid TON Token Listings and Future Outlook

Credits to WuBlockchain for the original article

Binance recently made waves by listing five TON (The Open Network) tokens in rapid succession. This flurry of listings has piqued the crypto community's interest. What’s behind Binance’s swift move, and what does the future hold for the TON ecosystem?

Wu Blockchain founders Collin and WuliGy discussed this trend, here are the key takeaways from their discussion:

Why is Binance / Exchanges Rapidly Listing Tokens from the TON Ecosystem?

TON, backed by Telegram, has a massive user base, and its mini-apps offer a huge potential for user acquisition.
This makes TON tokens attractive to exchanges like Binance, which are looking to drive user growth.
TON projects, especially the "farm" type ones, require users to actively participate and complete daily tasks.
This leads to stronger user stickiness compared to meme coins, which often involve a one-time investment.
Exchanges hope that listing TON tokens will not only attract new users but also retain them for extended periods.

TON Future Outlook

Currently, TON's on-chain ecosystem isn't tightly integrated with the Telegram mini-apps.
Many users are directly converting into exchange users, rather than being onboarded into the TON chain itself.
Projects will likely focus more on enhancing gameplay and utilizing traffic more effectively to drive growth.
New types of projects are emerging, especially casual games that are already popular in the Web2 space.
TON ecosystem needs to address challenges like on-chain integration and sustainable development to fully realize its potential.

Take a peek at our referral reward at the bottom of this issue. Share this newsletter and receive our list of 500 crypto VC individuals 👇

INSIGHTS

MicroStrategy to Raise $700M for Bitcoin, Debt Repayment

MicroStrategy

MicroStrategy plans to sell up to $700M in convertible senior notes to finance additional Bitcoin purchases and repay existing debt.

The move, announced by CEO Michael Saylor, is part of the firm's ongoing strategy to expand its Bitcoin holdings, which currently total around $14B.
The notes will be unsecured, mature in 2028, and carry biannual interest payments.
As of June 2024, MicroStrategy's total debt is $3.9B.
The firm has bought $9.5B worth of Bitcoin since 2020.
Following the announcement, MicroStrategy’s stock fell by 4.9%.

FEATURES & GOVERNANCE UPDATE

WalletConnect Launches $WCT

Connect Token (WCT) is a critical token of the WalletConnect Network, powering the onchain UX ecosystem. WCT fuels the engagement system of the WalletConnect Network, with core functions spanning fees, rewards, staking, and governance.
— WalletConnect (@WalletConnect)
12:50 PM • Sep 17, 2024

WalletConnect is launching its native Connect Token (WCT) on Optimism's OP Mainnet and will airdrop 185M WCT tokens to users starting September 24. WalletConnect also has rebranded to Reown.

This move transitioned WalletConnect Network to a community-governed structure with the newly formed WalletConnect Foundation.
Initially, WCT tokens will be non-transferable, with functionality and transferability expected by 2025.
The airdrop will include WalletConnect users and contributors, with registration requiring wallet connection, GitHub linkage, and email submission.
$WCT has a total supply capped at 1B, with 185M tokens (18.5%) allocated for the first airdrop.
This airdrop will benefit WalletConnect users, wallets, apps, nodes, development kits, and contributing communities.

Other notable feature updates:

Fractal Mainnet goes live.
cbBTC just went on-chain.
Ethervista launched VISTA Apps.
Layer3 introduced Launchpad feature.
ENS Domain now supports Paypal and Venmo.
Karak’s phase 2 of Keystone Testnet goes live.
Particle Network’s Universal Account goes live.
Aave launched a new dedicated market for Ether.fi.
Swift launched the system to simplify tokenized asset transactions.

QUICK BITES

Bhutan government holds $750M in Bitcoin.
Binance denies responsibility for WazirX hack.
Dragonfly wants to raise $500M for its fourth fund.
Google Cloud releases Ethereum-compatible RPC service.
Republicans urge SEC to clarify how it treats crypto airdrops.
Base shatters transaction records with over 4.5M in a single day.
Wintermute to launch a predictions market called OutcomeMarket.
Jamie Dimon says JPMorgan Chase is 'probably one of the bigger users of blockchain.'

NOTEWORTHY READS & MEME

Delphi Digital’s read on Mid Year Gaming Review - Funding.
Compound’s read on DePIN's Imperfect Present & Promising Future.
Multicoin Capital’s read on The Great Energy Coordination Problem.

Normie friend: "Do you have a plan B if crypto doesn't work out?"
— Route 2 FI (@Route2FI)
9:37 PM • Sep 17, 2024

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Disclaimer: All the information presented in this publication and its affiliates is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, or any other form of advice.