A newly launched crypto project owned by US presidential candidate Donald Trump, World Liberty Financial, has announced plans to go live on the Aave V3 centred on Ethereum mainnet. The announcement came a month after the Trump family rolled out World Liberty Financial (WLF) a decentralized finance project seeking to boost crypto growth.
The WFL will offer Americans an opportunity to borrow and lend funds. Additionally, the WFL will allow eligible American investors to explore alternative investment options in crypto.
World Liberty Financial Select Aave Network for its DeFi Protocol
During the launch, the self-proclaimed crypto defender announced that the new project would offer Americans a platform to engage in the buying and selling of digital assets.
Guided by the WLF core objective, the Trump-led initiative seeks to replace traditional banks, which are “ slow and outdated.” To attain the end goal the company has been in talks to deliberate a suitable network for the platform.
Source: World Liberty Financial
On X the crypto project confirmed that after careful consideration the WLF will go public on the Aave network.
The WLF team explained the suitability of Aave compared to other networks. They noted that Aave offers a world-class lending and borrowing protocol that perfectly blends with the needs of WFL.
Also, the DeFi platform stated that Aave has a track record of best security practices ensuring the customer’s funds remain safe and secure. From the numerous benefits, the WFL is eying to close a partnership deal with Aave.
If the proposed partnership agreement goes as planned the WFL will tap into the Aave ecosystem reserve that allocates 20% of interest earned by the network to sustain network operations.
A review of the WFL governance proposal demonstrated that the Aave V3 protocol will allow the user to borrow and lend a variety of crypto assets including Ether, Wrapped Bitcoin (WBTC), and stablecoin.
World Liberty Financial Reveals Next Move
The DeFi project plans to implement a credit account system that allows depositors to earn substantial interest for costs incurred by lenders. The WFL will be building on a three-sided mechanism that will allow the token to be distributed accordingly.
The WFL will allocate tokens on sale 63%, 17% of user rewards, and 20% towards compensation of the team. In a separate report, the founder of Aave Chain Initiative, Marc Zeller, was thrilled to announce the imminent partnership with WLF.
The executive confirmed to have provided the WFL will technical support to comprehend how to use the Aave tech stack. Zellet believes that WFL will onboard new users to the DeFi sector. With Trump’s strong support for crypto, the WFL revealed plans to integrate Scroll Ethereum Layer 2 after the Aave integration. Also, as the WFL expands the team plans to introduce nontransferrable governance tokens to the qualified customers.
As the WFL unveils its proposal Trump continues to show support for the crypto industry. On the campaign trail, Trump vowed to make the US the future for crypto by embracing friendly policies for digital asset. Trump’s recent involvement in crypto activities has attracted a tide of speculations. On X, EzR3aL expressed concern about how the Trump-led project WFL will attain its end plan. The commentator said he is very curious about how WFL will evolve and what types of customers the DeFi platform will attract.
Trump Vows to Support Crypto
From the proposal, the X user noted that the revenue and token-sharing approach was fair. He added that it was important for WLF to maintain good relationships to attract the desired success. Notably, the launching of WFL demonstrates the Republican presidential nominee’s commitment to supporting crypto growth. Trump has vowed to fully support crypto growth if he ascends into power in the November 4 general election.
This has forced the pro-Bitcoin politicians to invest in acquiring crypto and launching projects that support the growth of the digital sector.
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