Former US President Donald Trump’s DeFi project, World Liberty Financial (WLFI), has started selling tokens.

The public sale began today and was only open to participants who qualified through a whitelisting process that began in September.

The project sold over 220 million tokens to over 1,700 unique wallets in the first 20 minutes.

Despite a series of website outages during the implementation, almost 2,900 investors managed to acquire 344 million tokens within the first hour.

Due to regulatory restrictions in the US, sales are narrow to accredited investors as defined by the Securities and Exchange Commission (SEC).

To qualify, investors must have a net worth of more than $1 million (not including the home) or an annual income of at least $200,000 (or $300,000 if a spouse) for the last two years.

The WLFI coin is a DeFi platform governance token that allows investors to lend, borrow and earn interest.

Trump and his team have set an ambitious goal of raising $300 million, and 100,000 accredited U.S. investors have already been whitelisted ahead of the launch.

The WLFI token differs from customary cryptocurrencies in that it is non-tradable and does not generate any profit.

Moreover, 63% of the total token supply is reserved exclusively for accredited investors, limiting access to a select group.

The DeFi project, headed by Eric Trump, Donald Trump’s son, was first announced in August. Eric Trump called World Liberty Financial a “digital real estate,” positioning the Ethereum-based project as an ambitious competitor in the DeFi space.

In a recent blog post, World Liberty Financial described its goal as a global “one-stop shop for DeFi,” competing with established decentralized platforms such as .