Trump crypto project WLF proposes Aave v3 integration
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- World Liberty Financial (WLF) has submitted a governance proposal to seeking to utilize Aave v3
- The Aave community will consider and potentially vote on the proposal after a 'temp check'
- WLF also seeks to build on zero-knowledge protocol Scroll.
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World Liberty Financial, a recently launched crypto project backed by Donald Trump, seeks to use the decentralized finance protocol Aave v3 for liquidity on the Ethereum mainnet.
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In this case, the project submitted a governance proposal for ‘temperature check.’
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This stage allows the Aave community to consider the proposal and comments, before consensus sets in subsequent stages. If it goes all the way, it will end in an Aave improvement proposal (AIP) vote.
The WLF community will also have to vote for the governance proposal.
What’s in the World Liberty Financial’s Aave v3 proposal?
Copy link to sectionIn its proposal, World Liberty Financial looks to deploy as an Aave v3 instance on Ethereum.
WLF wants to leverage the DeFi protocol to bring its users lending and borrowing products around ETH, Wrapped Bitcoin (WBTC) and the stablecoins USDT and USDC.
The Trump crypto project will add other assets as grows.
2/5 Our proposal aligns perfectly with WLF’s mission: to provide a secure, accessible, and user-friendly DeFi experience for everyone. This is a major step forward in our journey!
Per the proposal, the goal is to reach wider adoption and introduce new users to over-collateralized crypto lending and borrowing.
The protocol will allow users to deposit the assets as collateral and access loans on the same.
If adopted, WLF will offer 20% of protocol fees to the AaveDAO. It will also give 7% of WLFI supply for WLF governance, liquidity mining and decentralization on Aave.
WLFI posted on X:
We chose Aave because it’s the best-in-class lending & borrowing protocol with top-notch security practices and a strong track record. Partnering with Aave enables us to deliver a reliable platform our users need.
Expansion to Scroll
Copy link to sectionAs well as its integration with Aave v3, World Liberty Financial said it will also build on Scroll.
Plans to integrate with the zero-knowledge rollup platform depends on the outcome of a WLF governance proposal.
WLF’s use of the ZK layer 2 on Ethereum will allow it to tap into high throughput and the low transaction fees to bring more retail users to the DeFi ecosystem, the team added.
Trump’s pro-crypto stance
Copy link to sectionWorld Liberty Financial launched in September 2024, a few weeks after Trump sons Donald Trump Jr. and Eric Trump teased the upcoming crypto project.
Ahead of its debut, Trump had increasingly aligned with the crypto industry, speaking at the Bitcoin 2024 conference and meeting top BTC mining companies in the US.
His pro-crypto stance has contrasted with that of the Joe Biden/Kamala Harris administration.
Many within the crypto space see the former US president as the candidate whose victory in the November 2024 election will be a better outcome for the sector.
Currently, Trump leads VP Kamala Harris on Polymarket, with 54% of bets on the Republican and 45% on the Democrat.
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