The Trump family could potentially earn $540 million from a new DeFi project called World Liberty Financial (WLFI), which may launch on the Ethereum or Polygon networks. This venture could sell 30% of WLFI tokens after reaching a valuation of $1.8 billion, according to reports.
While Donald Trump and his sons, Donald Jr. and Eric, have shared limited details, the project is being viewed with mixed reactions, especially considering the upcoming US election. The family’s involvement in a financial project at this time has sparked debate.
Reportedly, WLFI could function like Aave, a popular DeFi platform. Test contracts suggest a 30% token sale post valuation. Trump’s announcement on Truth Social stirred interest, with the project’s message of empowering Americans resonating widely. The initiative has gathered a significant following on Telegram and Twitter.
Some, like investor Nic Carter, have raised concerns. Carter suggested the project could pose regulatory risks, especially with the SEC likely to scrutinize it. He also pointed out the possibility of the project being hacked, which could harm Trump's electoral prospects.
In response, WLFI stated that it is partnering with Aave and aims to establish higher security standards to prevent such issues, distancing itself from other failed forks. Despite this assurance, the venture is still under close watch as it develops.