Cherish life, stay away from WLFI
Project essence and risks: WLFI has been labeled as a highly centralized Meme coin, an upgraded version of the TRUMP token, lacking innovation and solely aimed at making huge profits, presenting extremely high risks.
Team background issues: Among the 9 co-founders, the Trump family is only responsible for marketing and does not participate in operations or technology, nor do they bear legal responsibility. Members include individuals with criminal records, a history of scams, or controversial backgrounds, such as Chase Herro and Zach Folkman.
Token distribution and manipulation: WLFI tokens are highly concentrated, with 6 individuals controlling 40% of the total supply, and over 60% controlled by a few wallets through multi-signature, leading to severe market fluctuations and insider selling, with tokens having no actual utility and governance rights being arbitrarily restricted.
Questions about stablecoin USD1: Although the market value of the USD1 stablecoin reaches 2.7 billion USD, 93% is concentrated on the Binance exchange, lacking real applications, and the deployment address has been associated with junk coins, being poorly designed and having low transparency.
Website and disclosure information: The official website contains numerous errors and perfunctory content, with disclosures attempting to evade responsibility, further confirming the unreliability of the project.
Conclusion and recommendation: Strongly advised to stay away from WLFI, and if profits have been made, it should be settled promptly, emphasizing that the project only relies on the Trump brand effect with no actual value.
#WIFI