Donald Trump’s decentralized finance (DeFi) initiative, World Liberty Finance (WLF), has commenced the registration process for users, with a specific focus on accredited U.S. investors and individuals from outside the United States.
As per the project’s official statement, the primary goal is to provide ‘financial liberation’ to all individuals.
“Although the whitelist is currently accessible to accredited investors in the U.S. and non-U.S. citizens, we remain committed to ensuring financial freedom for everyone, irrespective of their origins or financial status.”
Trump Commends World Liberty Finance Update as ‘Landmark’
In his remarks, Trump lauded the whitelist update as an opportunity for participants to engage in a ‘historic’ endeavor aimed at positioning America as the global hub for cryptocurrencies.
“I pledged to Enhance America’s Greatness, this time through cryptocurrencies. WLF plans to contribute towards establishing America as the global epicenter for cryptocurrencies! The whitelist for eligible individuals is now open – seize this moment to be part of this historic occasion.”
The introduction of WLF occurred in August and has been loosely introduced as a DeFi platform. However, specifics regarding its purpose and structure remain scarce.
An excerpt from the project’s telegram update on September 4th stated,
“Our objective is unequivocal: Enhancing the cryptocurrency industry and America’s prominence by promoting the widespread adoption of stablecoins and decentralized finance.”
The statement further emphasized the project’s intention to propel the influence of USD-pegged stablecoins to maintain the USD’s global prominence for the coming century.
Nonetheless, Aave’s Marc Zeller clarified that the project was an instance of Aave.
“It’s an Aave instance. While possessing distinct front-end and governing mechanisms, it operates on the Aave platform with revenue sharing arrangements with the Aave DAO.”
In essence, WLF could utilize Aave’s fundamental features in the backend, such as lending and borrowing, but with a customized and somewhat independent structure, particularly concerning the user interface and governance.
On the flip side, some users expressed dissent towards the WLF project and advised Trump to concentrate on Bitcoin. A user commented,
“Educate yourself about Bitcoin. Cease promoting dubious financial schemes. Strive for improvement. Be better.”
Nonetheless, with the initial registration of users, additional insights into the project and its operational framework are anticipated to surface.