- Announced by Donald Trump as a decentralized finance (DeFi) venture, WLF aims to offer blockchain-based financial services (such as lending) and issue a governance token ($WLFI).
- WLF plans a revenue-sharing arrangement on Aave (an established Ethereum platform) through AaveDAO, involving 20% of fees and a portion of governance tokens.
- Trump’s project promotes US dollar-pegged stablecoins as a global settlement tool, aiming to maintain US financial influence.
- Foiled third assassination attempt on Trump? Security services in California intercepted an armed man with fake press credentials.
Donald Trump, former US President, current Republican presidential candidate, and new-found crypto convert, recently announced his latest financial venture: a decentralized finance (DeFi) project named World Liberty Financial (WLF).
After weeks of sparse details, Trump and the WLF team, including two of his sons, are set to launch the project on the Aave platform.
The $WLFI token sale goes live on Tuesday, 15 October.
Curiously, several days ago, a man was arrested with guns and fake IDs near a Trump event in the Coachella Valley, highlighting the tension and turmoil of his presidential campaign.
Here’s a closer look at Trump’s WLF, the $WLFI token’s supposed use cases, and a potential third assassination attempt.
Days Before WLF Launch, Would-Be Assassin Arrested
Authorities arrested a man for carrying firearms near a planned Trump event in California. Originally described as an attempted assassination, the authorities later downplayed the incident.
It might actually have been a fluke; the would-be assassin was released on a $5K bail and didn’t receive a federal charge. Going a step further, the man – Vern Miller – described himself to Fox News as a Trump supporter.
Nevertheless, the tension surrounding the event highlights some of the negative attention Trump’s campaign has drawn.
And it forms the backdrop against which Trump’s most recent venture, World Liberty Financial, will launch.
Trump Calls for DeFiance
The project’s goals are to ‘revolutionize’ the financial landscape.
It will offer decentralized lending services and promote the mass adoption of US dollar-pegged stablecoins as a global settlement layer.
Admittedly, that language doesn’t sound too different from what other projects intend to do.
Stablecoins are certainly nothing new, with the fiat-backed stablecoin market cap at an all-time high (ATH) of just under $160B.
Trump’s reasoning for the project follows his normal lines, suggesting that this project will challenge supposedly ‘rigged’ traditional financial systems.
By leveraging blockchain technology and Aave’s established DeFi infrastructure, WLF aims to enable seamless, secure transactions in major digital assets like $ETH and leading stablecoins.
Which would create a decentralized lending ecosystem.
The Aave partnership includes a proposed revenue-sharing agreement with AaveDAO, which could incentivize Aave’s participation and solidify WLF’s presence in the DeFi space.
What Makes $WLFI Different from Other Projects?
The high-level project goals aren’t particularly unique, but the finer details show a few standout differences:
- Token presale whitelist open only for accredited US and non-US investors to boost SEC compliance
- $WLFI is non-tradeable and a governance token only
- 20% token allocation for the project team (including the Trump family)
WLF promotes the use of US-pegged stablecoins as a tool to reinforce American economic influence globally.
This aligns with Trump’s vision of countering foreign central bank digital currencies (CBDCs) and digital payment systems that could undermine the dollar’s dominance.
However, the $WLFI proposal faces some criticism about Aave, with doubts about the project’s actual worth and decentralized nature.
One random Aave voter doesn’t indicate how the general public will receive WLF. However, it shows that Trump’s project has a long way to go before any significant adoption.
Verdict: Challenging the System or Reinventing the Wheel?
Trump’s past critical stance on cryptocurrencies, coupled with his presidential campaign and political ambitions, have raised concerns about conflicts of interest.
He has taken a decidedly pro-crypto stance for this election, with experts noting that the crypto vote could play a role in the outcome for the first time ever.
The launch of a new token only 24 days before the vote underscores that emphasis.
Currently, the whole WLF project is an odd mixture of meme-coin-level promotions (08:00 EST on X) and strange moves, such as promoting and launching a non-tradeable, non-yielding token.
How many degens will snap up $WLFI before they realize they can’t pump it?
As World Liberty Financial moves forward, it faces a dual challenge: achieving ambitious DeFi goals while navigating a landscape fraught with political and regulatory implications.
Donald Trump himself, a polarizing figure and the target of two failed assassination attempts before the most recent incident could actually be a third challenge.
Whether WLF will become a viable player in the crypto world or remain a contentious political flashpoint remains to be seen.
References
- Donald Trump Announces World Liberty Financial Token Sale (Crypto News)
- Trump Faces Potential Assassination Attempt (Crypto Briefing)
- World Liberty Financial Aave V3 Instance (Aave)
- Man Arrested Outside Trump Coachella Rally Denies Assassination Attempt (Fox News)
