As a seasoned researcher with a keen interest in blockchain technology and decentralized finance (DeFi), I find this development between Donald Trump’s World Liberty Financial (WLF) and Aave quite intriguing. Trump, once a polarizing figure in U.S. politics, is now venturing into the crypto world, aiming to make America the “crypto capital of the world.
Donald Trump’s cryptocurrency venture, World Liberty Financial, has put forth a governance plan to establish an instance within the decentralized finance platform Aave.
World Liberty Financial, in a governance proposal dated October 9, has expressed its intention to deploy its services as a version of Aave V3 on the Ethereum (ETH) primary network. This well-known decentralized protocol, Aave (AAVE), will serve as the backbone for this platform.
As per the plan, World Liberty Financial’s Aave V3 platform is intended to offer stablecoin liquidity for both Ethereum and Wrapped Bitcoin (WBTC), while simultaneously expanding the user base of the Aave protocol. This means that users can deposit not only Ethereum and WBTC but also stablecoins like USD Coin (USDC) and Tether (USDT) on World Liberty Financial’s Aave.
WLF provides token holders, often referred to as the Aave Decentralized Autonomous Organization (DAO), with a share of 20% of the fees they generate and approximately 7% of the total supply of the platform’s governance token, WLFI.
Instead, WLF proposes that Aave DAO collaborates with them on governance decisions, liquidity mining opportunities, and advocating for decentralization within the WLF ecosystem.
In the plan, the project proposes adopting the primary Aave instance’s reserve factor system and creating a self-governing smart contract as the foundation for distributing earnings.
In its future vision for Aave, WLF anticipates integrating assets that might not align perfectly with the primary market on the Ethereum Mainnet. This is achievable due to WLF’s connections with traditional finance and institutional investment sectors.
The plan is contingent upon being authorized by both the Aave Decentralized Autonomous Organization (DAO) and the World Liberty Financial community.
🌐 Exciting news! World Liberty Financial has publicly shared our governance proposal on Aave’s forum for the deployment of an Aave V3 platform on the Ethereum Mainnet. Here’s where you can find it: [Link]
— WLFI (@worldlibertyfi) October 9, 2024
In a recent announcement post, WLF explained their decision to collaborate with Aave for the upcoming launch. They highlighted the exceptional quality of Aave’s lending and borrowing system, their robust security measures, and their impressive history as key factors in their choice.
In their recent post, WLF expressed that our proposition fits flawlessly with their mission: offering a safe, convenient, and easy-to-use DeFi experience to all users. This represents a significant milestone on our path!
Furthermore, the project has revealed its intentions to expand onto the Scroll Network soon.
Previously elected President of the United States, Donald Trump unveiled World Liberty Financial on September 16th, promising via a social media post that he intends to transform America into a world leader in cryptocurrency. The World Liberty Financial (WLF) platform is described as offering lending and borrowing services, with an emphasis on being more intuitive and accessible compared to current decentralized finance (DeFi) solutions.
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2024-10-10 12:38