Trump-Backed World Liberty Financial Proposes Aave Integration

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Cryptodnes2024/10/10 20:42

By:Cryptodnes

World Liberty Financial, backed by Donald Trump, has proposed a governance model to operate on the Aave decentralized finance platform as an Aave v3 instance on Ethereum.

The initiative aims to allocate 20% of generated fees and 7% of its WLFI governance token to AaveDAO, enhancing liquidity for assets like Ether and stablecoins.

The proposal includes using Aave’s reserve factor system and establishing a smart contract for revenue sharing, with AaveDAO members now reviewing it.

If successful, World Liberty Financial plans to expand onto the Ethereum layer 2 solution, Scroll.

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Details about the project have emerged gradually, but a recent livestream featuring Trump’s sons did not address its crypto components.

The platform seeks to enable digital wallets, credit accounts, and borrowing/lending, following an open-source model similar to Dough Finance, which previously experienced a flash loan attack.

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