WLFI integrates Chainlink's Price Feeds for secure transactions, targeting a robust launch of its Aave v3 instance on Ethereum.
Chainlink’s proven DeFi security, safeguarding over $16 trillion in transactions, bolsters WLFI’s infrastructure for user trust.
WLFI aims to bridge Web2 and Web3, enhancing DeFi access with governance tokens and introducing interoperable SmartAssets.
The decentralized finance project World Liberty Financial (WLFI) will integrate with Chainlink to improve data security on the chain and cross-chain interactive features for its ecosystem.
As part of the alliance, Chainlink will contribute the functionality necessary to achieve WLFI's outlined vision of democratizing financial access. However, maintaining the status of the US dollar at the world level. WLFI integration on Chainlink's Price Feeds on Ethereum ensures the secure launch of its Aave v3 instance, subject to community governance approval.
https://twitter.com/chainlink/status/1857046336270471476
The decision arises from Chainlink's track record in securing DeFi applications, which have collectively processed over $16 trillion in transaction value. Chainlink’s technology, including its reliable Price Feeds, has protected DeFi platforms such as Aave for over five years.
Chainlink’s co-founder Sergey Nazarov clarified the partnership would draw users to WLFI who prioritize security and reliability in DeFi platforms.
Enhancing DeFi User Access and Governance with $WLFI Token
Central to WLFI’s operations is its governance token, $WLFI, which grants holders the right to vote on protocol decisions. This approach creates community governance, whereby the users are privileged to participate in WLFI's decision-making.
This aims to serve as a hub for DeFi transactions, allowing users to lend, borrow, and invest in digital assets. Concurrently, it advocates for the use of stablecoins to support the dollar as the world’s reserve currency. Furthermore, the WLFI governance platform seeks to bridge Web2 and Web3 to enhance DeFi adoption for the general population.
Additionally, WLFI plans to introduce SmartAssets, programmable tokens backed by real-world assets (RWAs), leveraging Chainlink’s infrastructure to enhance liquidity and interoperability across multiple blockchains. This vision aligns with WLFI’s objective to facilitate secure peer-to-peer transactions and uphold privacy principles inherent to American values.
Challenges in Meeting Initial Financial Goals
Despite its ambitious roadmap, WLFI has encountered financial hurdles in securing investment. Initially, the project aimed to raise $300 million but later reduced this target to $30 million due to limited demand. According to the project’s data, WLFI has raised less than $20 million from selling 1.3 billion tokens. This funding shortfall has drawn industry attention, with some community members raising concerns over the project’s progress and clarity.
A report from asset management firm Galaxy Digital noted uncertainties surrounding WLFI’s development, including its long-term trajectory and the clarity of its technical roadmap. Galaxy emphasized the importance of a transparent development plan and timely code releases for WLFI to achieve its vision in the DeFi space.
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