World Liberty Financial (WLF), a DeFi project backed by the Trump family and its partners, has officially applied to deploy on Aave V3. According to the WLF team, Aave was chosen due to its security protocols and the team’s experience in the DeFi space. With the partnership, WLF can provide its users with a reliable and secure environment to borrow and lend cryptocurrencies such as ETH, WBTC, USDC, and USDT.
As part of the integration with Aave, WLF plans to use Aave’s reserve factor model to invest 20% of the interest earned through the Aave protocol into the Aave ecosystem reserve. The project will also launch a non-fungible token called WLFI for accredited investors in the project. In terms of token distribution, 63% of the tokens will be available to the public, 17% of the tokens will be used for user rewards, and 20% will be used to reward the team.
The proposal will be presented to the Aave DAO community and participants will be able to vote on it in the next few days. WLFI token holders will also have to agree to the plan before it can be released to the market.
Image: Happy Coin News
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