According to Foresight News, a white paper summary obtained by CoinDesk reveals that World Liberty Financial, a cryptocurrency project promoted by Donald Trump's son, plans to develop a lending service. This service will include a credit account system built on Aave and the Ethereum blockchain to facilitate decentralized lending. The project will also introduce a new cryptocurrency called WLFI, a non-transferable governance token.
The white paper and other reports indicate that the lending service is strikingly similar to Dough Finance, a platform developed by four individuals who are now listed as team members of World Liberty Financial. It appears that World Liberty Financial may have directly sourced code from Dough Finance, especially in its early stages. Dough Finance suffered a $2 million loss in a hacking incident in July.
Insiders have identified Zachary Folkman and Chase Herro as the founders of Dough Finance, who are now listed in the white paper as the Chief Operating Officer and the Head of Data and Strategy for World Liberty Financial, respectively. Additionally, Octavian Lojnita, the Head of Smart Contracts for World Liberty Financial, previously worked at Dough Finance.
