TLDR:
- Donald Trump, alongside his family, is pioneering a new crypto endeavor tagged World Liberty Financial.
- Based on code reminiscent of Dough Finance, this initiative seeks to recover trust after the latter's $2 million breach.
- Notably, the team champions veterans from Dough Finance, including someone with a background in running a pick-up artist academy.
- World Liberty Financial intends to launch WLFI, a governance token that can't be transferred.
- Their goal is to build a decentralized lending and borrowing hub on Ethereum.
Backed by Donald Trump, World Liberty Financial is poised to roll out a DeFi platform that facilitates borrowing and lending.
Originally hinted as 'The DeFiant Ones,' the project raises eyebrows due to its ties with a previously hacked DeFi protocol and its diverse team.
. @worldlibertyfi pic.twitter.com/mwhVIzPJyq
— Donald J. Trump (@realDonaldTrump) August 29, 2024
An informational white paper accessed via CoinDesk elucidates the plan. World Liberty Financial looks to construct a credit system using Ethereum and employ the Aave platform to bolster user-friendly decentralized finance services.
Donald Trump takes the mantle as Chief Crypto Advocate, while Eric and Donald Jr. act as Web3 Ambassadors. Meanwhile, Barron Trump, aged 18, holds the title of DeFi visionary.
Holders of the WLFI governance token will have sway over the platform's trajectory, including voting on new markets and blockchain integrations.
Scrutinies emerge following the GitHub code exposure, suggesting that World Liberty Financial may have borrowed elements from Dough Finance's repository, which suffered a security breach.
Though it's uncertain if the present project includes Dough's original code, the association has not gone unnoticed.
Team members like Zachary Folkman, Chase Herro, Octavian Lojnita, and a frontend developer known only as Boga, are Dough Finance alumni.
Folkman and Herro have collaborated on numerous endeavors such as Subify and the intriguingly titled Date Hotter Girls LLC.
New faces in leadership, like Steve Witkoff and Zach Witkoff, joined by legal wizard Alex Golubitsky, underscore the project's depth.
Trump's vision for America as a leading crypto hub represents a stark departure from his earlier skepticism.
The increasing fusion of digital finance and politics highlights potential shifts due to Trump's renewed crypto enthusiasm.
