On October 14, 2024, Donald Trump officially announced the launch of a crypto project called "World Liberty Financial" (WLFI). This platform, led by his sons Donald Trump Jr. and Eric Trump, focuses on decentralized finance (DeFi) services and offers a new cryptocurrency, the WLFI token. The project aims to make lending and borrowing services accessible via the Ethereum blockchain, in partnership with Aave, one of the leading DeFi protocols on the market.
World Liberty Financial’s goal is to attract new users, especially those who are not yet familiar with DeFi but are interested in the development of cryptocurrencies. The move comes as Trump says he wants to make the United States the “cryptocurrency capital of the world” as part of his presidential campaign.
The WLFI token will be distributed with 70% reserved for founders and team members, while 30% will be available to the general public during a token sale. The platform plans to collaborate with Aave to share 20% of the revenue generated with AaveDAO, the governance community.
While the project is generating interest, it is also attracting the attention of regulators due to concerns over the legal status of tokens in the United States.
