Trump’s DeFi project has started accepting users after weeks of promotion.
- Trump’s WLF DeFi project has begun signing up users. The project details remain limited but could mimic Aave’s design.
Donald Trump’s DeFi project, World Liberty Finance (WLF), has begun accepting users, although it is limited to accredited U.S. investors and non-U.S. citizens.
According to the project’s statement, its objective is to bring ‘financial freedom’ to everyone.
“While these whitelists are currently open to accredited investors in the US and all non-US persons, we are not turning our backs on the everyday American. Our mission is to bring financial freedom to everyone, no matter their background or bank balance.”
Trump hails World Liberty Finance update as ‘historic’
Trump, for his part, called the whitelisting update a chance for users to participate in something ‘historic’ and geared towards making America the crypto capital of the world.
“I promised to Make America Great Again, this time with crypto. WLF is planning to help make America the crypto capital of the world! The whitelist for eligible persons is officially open – this is your chance to be part of this historic moment.”
The WLF was unveiled in August and has been vaguely presented as a DeFi (decentralized finance) platform. However, details remain scanty regarding its objective and design.
Part of the project’s telegram update on the 4th of September read,
“Our mission is crystal clear: Make crypto and America great by driving the mass adoption of stablecoins and decentralized finance.”
The statement added that the project would promote USD-pegged stablecoins to extend USD’s global dominance for the next 100 years.
However, Aave’s Marc Zeller clarified that the project was an Aave’s instance.
“It’s an Aave instance. They have their own front and governance but it’s on the Aave stack with revenue share to the Aave DAO.”
In short, WLF could leverage Aave core functions in the background, like lending and borrowing, but with a custom and slightly independent system, especially on the front end and governance.
However, other users disagreed with the WLF project and urged Trump to focus on Bitcoin. One user said,
“Study Bitcoin. Stop promoting weird money-grab scams. Do better. Be better.”
However, with the initial onboarding of users, more details about the project and its operation design will emerge.
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