World Liberty Financial (WLF), a decentralized finance (DeFi) project associated with the Trump family, has officially proposed to launch on Aave V3 on Ethereum’s mainnet.
World Liberty Financial (WLF), a decentralized finance (DeFi) project associated with the Trump family, has officially proposed to launch on Aave V3 on Ethereum’s mainnet.
The announcement was made on Wednesday, detailing that users will be able to borrow or lend various cryptocurrencies, including ETH, WBTC, USDC, and USDT.
The project aims to leverage Aave's established lending and borrowing protocol, which is recognized for its security and reliability. In their announcement on social media platform X, the WLF team emphasized their choice of Aave as a “best-in-class” platform, stating this partnership would provide a dependable user experience.
WLF’s governance proposal outlines plans to utilize Aave’s reserve factor system, allocating 20% of the protocol’s interest to the Aave Ecosystem Reserve. This revenue-sharing mechanism will be facilitated through a trustless smart contract.
Marc Zeller, founder of the Aave Chain Initiative, remarked on the collaboration, noting that while he has not interacted directly with former President Trump, he and his team have supported WLF in understanding the Aave technology.
Zeller expressed interest in how this integration will unfold and its potential impact on user engagement in the DeFi space.
Additionally, WLF plans to sell a non-transferable governance token, WLFI, to accredited investors, with a distribution strategy that includes 63% for public sale, 17% for user rewards, and 20% for team compensation.
Aave token holders must first vote on a "temp check" to open the door for community feedback and testing before the mainnet launch.
This proposal comes amidst a growing interest in DeFi, which currently sees over $57 billion staked across major blockchain platforms.
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