US presidential candidate Trump has previously promoted the DeFi project World Liberty Financial, which has been officially deployed to Ethereum recently. Due to regulatory issues, World Liberty Financial is currently only available to non-U.S. citizens or qualified investors in the United States; however, as can be seen from the official tweet, the development team's goal is still to be open to all U.S. citizens.

"Due to outdated U.S. policies and regulations, the whitelist is only open to non-U.S. and accredited U.S. investors. We are fighting for regulatory changes so that all Americans can access World Liberty Financial and participate in this event." A financial revolution.”

Image source: X/@worldlibertyfiWLF The development team said it is committed to opening it up to U.S. citizens

What are the requirements for U.S. citizens to participate?

According to the regulations of the US SEC, the thresholds for so-called Accredited Investors include a personal net worth of US$1 million (excluding the value of the main residence), an annual salary of more than US$200,000 in the past two years, and the ability to meet the standards again this year. reasonable expectations.

In addition to individual investors, the SEC has also proposed regulations for legal entities. However, it is obvious that this regulation will inevitably exclude a large number of American retail investors.

Trump's strong support

Despite being restricted by U.S. regulations, Trump expressed support for World Liberty Financial via tweet:

"I promised to make America great again through cryptocurrency, and now World Liberty Financial is planning to help the United States become the world capital of cryptocurrency!"

Source: X/@realDonaldTrumpTrump strongly supports World Liberty Financial

Has World Liberty Financial ever had concerns about smart contract vulnerabilities?

According to previous reports by CryptoCity, the World Liberty Financial program code is very similar to the lending agreement Dough Finance. The agreement was attacked by hackers’ flash loan on July 12, resulting in a loss of US$1.8 million. The total locked position value is now only Less than $10,000.

The World Liberty Financial development team once pointed out on the Telegram channel that they have cooperated with the audit teams of all parties, the code has passed the review, and will continue to pay attention to security-related maintenance.

What benefits might World Liberty Financial bring to the DeFi sector?

Based on the highly transparent and programmable execution characteristics of smart contracts, the DeFi sector has always had a "permission-free" proposition; despite this, many DeFi protocols are still limited by regional policies and regulations and are unable to provide services to users. This is exactly the obstacle that World Liberty Financial has encountered in promoting in the United States. If the World Liberty Financial development team can promote this "financial revolution" according to its vision, it will hopefully open the door to mass adoption for the DeFi sector.

[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.