World Liberty Financial (WLF), a project supported by the Trump family, is stepping into the decentralized finance (DeFi) world. On Wednesday, they requested to join Aave V3. Aave is a popular platform on the Ethereum mainnet. This new partnership lets WLFI offer a safe and secure place for users to borrow and lend cryptocurrencies. They plan to work with tokens like ETH, USDC, WBTC, and USDT.
Why WLFI Chose Aave
World Liberty Financial picked Aave because it’s known for security and success in DeFi. The project believes this deal will attract more users to DeFi. They also plan to introduce a new token called $WLFI. They will offer 63% of these tokens to the public. On top of that, WLF will give 20% of the interest earned back to the Aave community. This way, everyone benefits from the partnership.
New Tokens and Assets
WLF isn’t stopping at just borrowing and lending. They want to bring in assets that don’t fit with Ethereum’s current market. They plan to do this by using connections with traditional finance. Also, WLF will introduce non-fungible tokens (NFTs) for selected investors. This could open the door for more people to join DeFi.
63% of the $WLFI supply will be distributed among the community. The project will reserve 17% supply to be used for user rewards and 20% will be for the team. This basic tokenomics shows that the project aims to create a fair and rewarding platform and environment for the users.
What’s Next?
The proposal is now up for a vote by AaveDAO members and $WLFI token holders. Both communities need to approve the plan before WLF can officially launch on Aave V3. If the votes go through, WLF will bring new liquidity and users to Aave’s platform. This move could strengthen Aave’s position as a leader in DeFi, while helping WLF grow its user base.
Source: https://coinpedia.org/news/trump-family-backed-wlfi-eyes-aave-v3-for-big-defi-plans/