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World Liberty Financial, linked to the Trump family, plans to launch with Aave V3
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World Liberty Financial (WLF), a decentralized finance (DeFi) project backed by the Trump family, has submitted an official proposal for a launch using Aave V3 on the Ethereum mainnet. The team announced the proposal last Wednesday (9).
In the statement, they mentioned that the choice of the Aave protocol was due to its security and solid track record in the decentralized lending and financing sector.
In a social media post, the WLF team stated that they chose Aave because it is “the best lending and financing protocol, with top-notch security practices and a strong track record.” The partnership aims to provide a trusted platform for users, leveraging the advantages of Aave to create a safer and more efficient lending and depositing environment.
According to the proposal published on the Aave governance forum, the WLF instance on Aave V3 will allow users to lend or borrow ETH, WBTC tokens, as well as USDC and USDT stablecoins.
World Liberty Financial chooses Aave protocol
Just like with Aave, depositors will earn interest from the fees paid by borrowers. Additionally, the project plans to incorporate assets that are not compatible with the main Ethereum market, leveraging its connections to the traditional financial sector and institutional investments.
One of the main aspects of the proposal is the use of Aave’s reserve factor system. This system will direct 20% of the interest obtained by the protocol to the Aave Ecosystem Reserve. This process will take place through a trustless smart contract, ensuring transparency and security in the allocation of resources.
Marc Zeller, founder of the Aave Chain Initiative, said that although he is not in direct contact with former President Donald Trump, he and his team helped learn how to use Aave technology. “We are excited to see the unique integration of Aave technology by the WLF team,” said Zeller.
If the integration with Aave is successful, WLF plans to expand its operations to Scroll Ethereum. This is a second layer solution that promises greater scalability and efficiency.
During a live stream on September 16, the project confirmed the sale of a non-transferable governance token to accredited investors. The distribution of the WLFI token will occur as follows. Of the total, 63% will go to the public, 17% to user rewards and 20% to team compensation.
Despite Donald Trump gaining significant acceptance in the cryptocurrency industry, the World Liberty Financial project has generated mixed reactions. While some view it with suspicion, others believe that the involvement of prominent public figures could attract new eyes to the DeFi sector. The sector is still little known by most Americans, despite more than US$57 billion locked in DeFi protocols on the three main networks — Ethereum, Solana and Tron.
World Liberty Financial, linked to the Trump family, plans to launch with Aave V3
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World Liberty Financial, linked to the Trump family, plans to launch with Aave V3
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World Liberty Financial, linked to the Trump family, plans to launch with Aave V3
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World Liberty Financial, linked to the Trump family, plans to launch with Aave V3