Donald Trump's DeFi Project, World Liberty Finance (WLF), Begins Accepting Users

Donald Trump’s DeFi project, World Liberty Finance (WLF), has begun accepting users, although it is limited to accredited U.S. investors and non-U.S. citizens.

Donald Trump's World Liberty Finance (WLF) DeFi project has started accepting users, though it is limited to accredited U.S. investors and non-U.S. citizens.

The project aims to bring ‘financial freedom’ to all, as stated in its statement.

“While these whitelists are currently open to accredited investors in the US and all non-US persons, we are not turning our backs on the everyday American. Our mission is to bring financial freedom to everyone, no matter their background or bank balance.”

Trump hails World Liberty Finance update as ‘historic’

Meanwhile, Trump called the whitelisting update a chance for users to be part of something ‘historic,’ aiming to make America the crypto capital of the world.

“I promised to Make America Great Again, this time with crypto. WLF is planning to help make America the crypto capital of the world! The whitelist for eligible persons is officially open – this is your chance to be part of this historic moment.”

Unveiled in August, the WLF has been vaguely described as a DeFi (decentralized finance) platform. However, details are still lacking on its goal and structure.

Part of the project's telegram update on September 4 reads,

“Our mission is crystal clear: Make crypto and America great by driving the mass adoption of stablecoins and decentralized finance.”

The statement also mentioned that the project will be promoting USD-pegged stablecoins to extend the USD's global dominance for the next 100 years.

However, Aave's Marc Zeller clarified that the project is an instance of Aave.

“It’s an Aave instance. They have their own front and governance but it’s on the Aave stack with revenue share to the Aave DAO.”

In essence, WLF could be utilizing core functions of Aave in the backend, such as lending and borrowing, but with a customized and somewhat independent system, particularly in the front end and governance.

On the other hand, some users expressed disapproval of the WLF project, urging Trump to focus on Bitcoin.

“Study Bitcoin. Stop promoting weird money-grab scams. Do better. Be better.”

As more users are initially onboarded, further details on the project and its operational design will likely emerge.

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