- WLF aims to create a safe and secure environment for lending ETH, WBTC, USDC, and USDT
- On Wednesday, the team announced that WLF is going to integrate with Aave V3 on the Ethereum Mainnet
Trump family-backed DeFi project World Liberty Financial has announced an upcoming integration with Aave V3 on the Ethereum core network for its WLF token.
The offering will also be presented to the AaveDAO community, where members can vote on the initiative and additional plan aspects before going to market.
WLF and Aave V3 Integration Details
On Wednesday, the DeFi team of the World Liberty Financial project announced that it is going to integrate with Aave V3 on the Ethereum mainnet.
The World Liberty Financial project itself aims to redundantly take control away from traditional financial institutions and provide a more unbiased, safe, and secure platform for lending and other financial transactions.
ETH, WBTC, USDC, and USDT are stated to be the main assets that will be on the platform, however, the team has clarified that:
“WLF foresees onboarding assets that may not be compatible… leveraging its ties to traditional finance and institutional investment.”
As part of the integration with Aave V3, the team plans to use Aave’s reserve factor model to contribute 20% of the interest earned by the Aave protocol to the Aave Ecosystem Reserve.
In doing so, the token distribution will look like this:
- 63% of the tokens will be available for the public
- 17% of tokens will be assigned to user rewards
- 20% for the team compensation
Since Aave is one of the strongest representatives of the DAO approach, their AaveDAO will play a key role in this and the community will vote on this initiative and specific aspects of the implementation before everything is approved and goes to market.
Conclusion
Donald Trump continues to press his opposition to biased traditional financial institutions.
He is also actively using this in his election program, trying to gain favor with the entire crypto community.
There is not much left until the end of the election, and we will very soon be able to assess how far his initiatives go, and whether they can really change the balance of power fundamentally.
