Former U.S. President and Republican presidential candidate Donald Trump announced on Thursday that a decentralized finance (DeFi) project led by his family and planned for 2 months - "World Liberty Financial (WLFI)" "It will be officially launched on September 16th.
Trump said in a video posted on social media platform Big banks slowly becoming obsolete."
.@WorldLibertyFi pic.twitter.com/rHEGQXl4jL
— Donald J. Trump (@realDonaldTrump) September 12, 2024
So far, details about Trump’s entry into the DeFi field are still very sparse. Although members of the Trump family have continued to preview it on social networking sites, they have only revealed the name of the project and announced a name change.
According to previous news, World Liberty Financial will include a "credit account system" built on the decentralized financial platform Aave and the Ethereum blockchain to promote decentralized lending.
According to information released by the team on the Telegram channel, the project will also launch stablecoins pegged to the U.S. dollar, with the goal of promoting these U.S. dollar stablecoins globally to "ensure the continuation of the global dominance of the U.S. dollar."
In addition, World Liberty Financial also emphasized that the team takes the security of the project very seriously and has hired a number of top security experts, including companies such as Zokyo, Fuzzland, PeckShield, and BlockSecTeam, to review its code and ensure best security practices. The project also said that their code has been thoroughly reviewed by industry leaders and that protecting user security will be their primary focus in the future.
The nominal leader of the World Liberty Financial project is Trump, whose title is “chief cryptocurrency advocate.” Trump's sons Eric Trump and Donald Trump Jr. are obviously the driving forces behind this project. They participate as "Web3 Ambassadors". As for Trump's youngest son Barron, 18, he is described as Project "Builder of Decentralized Vision".
Trump’s DeFi project white paper slightly exposed: Suspected of copying Dough Finance, which had $2 million stolen
〈Trump announced that his DeFi project “World Free Finance” will be officially launched on September 16〉 This article was first published on "Block Guest".
