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Donald Trump's crypto project World Liberty Financial proposed a governance concept for an Aave instance. In an Oct. 9 governance proposal, World Liberty Financial intended to offer its business as an Aave V3 instance on the Ethereum mainnet. Decentralized protocol Aave (1.38%) will be the platform's back end. The proposal states that World Liberty Financial's Aave V3 instance will provide stablecoin liquidity for Ethereum and Wrapped Bitcoin (WBTC) and increase the Aave protocol's user base. WLF's Aave accepts ETH, WBTC, and stablecoins like USDC and Tether.
WLF gives token holders managing the protocol, known as Aave DAO, 20% of its revenues and 7% of the platform's governance token, WLFI. WLF wants Aave DAO to participate in the platform's governance, liquidity mining, and decentralization processes. The project proposes utilizing the same reserve factor scheme as the main Aave instance and a trustless smart contract for income sharing. WFL said it foresees onboarding assets that may not be compatible with the main market on the Ethereum Mainnet, leveraging its ties to traditional finance and institutional investment. The project requires Aave DAO governance and World Liberty Financial community support.
🧵 1/5 We’re excited to announce that World Liberty Financial has officially posted our governance proposal to Aave’s forum to launch an Aave V3 instance on Ethereum Mainnet! 📜 Check it out here: https://t.co/CQRrBqDIVv
— WLFI (@worldlibertyfi) October 9, 2024
WLF said on X that they partnered with Aave for the launch because of their loan and borrowing process, security measures, and track record.
“Our proposal fits WLF's mission to provide secure, accessible, and user-friendly DeFi for everyone. This is a huge advance in our path!" stated WLF online. The initiative also said it will build on the Scroll Network soon. On Sept. 16, former President Donald Trump founded World Liberty Financial, promising to “make America the crypto capital of the world” in an X post. WLF aspires to be more user-friendly and accessible than current DeFi platforms by offering borrowing and lending services.
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Brenda has been a news writer since 2019 with a deep background in crypto. Brenda commits to producing excellent, well-optimized content to ensure consumer satisfaction.
