10/11/2024
Revolutionizing finance: World Liberty Financial and Aave join forces for a decentralized future
Ota Janda
Revolutionizing finance: World Liberty Financial and Aave join forces for a decentralized future
World Liberty Financial, a company with strong ties to former President Donald Trump, is launching an ambitious plan to build its own decentralized financial platform (DeFi) using the Aave protocol. The move is expected to strengthen World Liberty Financial's position as a major player in the DeFi ecosystem.
Integration with Aave
A proposal has been submitted for the governance of the Aave project, in which World Liberty Financial announced that it plans to use the Aave v3 version on the main Ethereum network as the basis for its platform. In this way, Aave would become the backbone of their service, bringing new opportunities for cryptocurrency management and investment.
Revenue Sharing and Mutual Benefits
The proposal includes an ambitious revenue sharing plan, where World Liberty Financial offers AaveDAO, Aave's governing body made up of token holders, a 20% share of the fees generated on the platform and 7% of its stewardship token, WLFI. This combination is intended to increase liquidity for key digital assets such as ether (ETH), wrapped bitcoin (WBTC) and popular stablecoins.
The project team believes this partnership will not only expand Aave's user base, but also strengthen World Liberty Financial's position in the rapidly growing DeFi industry. Initially, they plan to support deposits in several popular cryptocurrencies, including ETH, WBTC, and stablecoins like USD Coin (USDC) and Tether (USDT).
Future Plans
One of the next goals is to adopt a reservation model that uses Aave's core protocol, and to implement trustless smart contract technology to efficiently split the proceeds by both parties. AaveDAO members are currently considering the proposal before voting on it, and approval for integration must also be obtained from World Liberty Financial's custodian token holders.
In a post on Platform X, the company stressed that the proposal "aligns perfectly" with their vision of creating a user-friendly DeFi platform. In the event of a successful integration with Aave, they plan to expand to the Ethereum layer-2 network, Scroll, which could further strengthen their position in the market.
Interesting Findings on Donald Trump's Support
According to a recent Fairleigh Dickinson University poll, cryptocurrency holders are more likely to support Donald Trump, while those who do not own cryptocurrencies prefer Vice President Kamala Harris. The survey showed that 50% of cryptocurrency holders support Trump, which is positive news for a company that is trying to build a strong position in technological and financial innovation.
Trump confirmed at the Bitcoin 2024 conference that if elected, he plans to remove regulatory barriers to cryptocurrencies and create a national bitcoin reserve. "The day I'm sworn in, Joe Biden and Kamala Harris' crusade against cryptocurrencies will end," he said.
While the ex-president's campaign includes the acceptance of crypto-donations, regulatory changes have led to the return of $1 million worth of bitcoin contributions from the Winklevoss, demonstrating the complexity and dynamics of the cryptocurrency market.
Conclusion
The partnership between World Liberty Financial and Aave promises exciting new developments in decentralized finance. Backed by a strong user base and a clear goal of expanding the range of cryptocurrency services on offer, this merger should bring revolutionary changes to the way people access digital assets. We look forward to further developments and what the future holds for this dynamic and innovative platform.
The Coingarage team