World Liberty Financial Plans Public Sale of $WLFI Token on October 15th, Targeting $300 Million Raise at $1.5B Valuation

The project is led by Zachary Folkman and Chase Herro, who were previously involved with Dough Finance, a DeFi platform that suffered a $2 million loss

World Liberty Financial (WLFi), a new decentralized finance (DeFi) project, has announced plans to launch on Aave’s v3 platform on Ethereum mainnet.

The project, which is led by former Dough Finance executives and members of the Trump family, aims to launch a comprehensive DeFi protocol that will be accessible globally.

According to a proposal submitted to Aave’s governance forum, WLFi plans to provide liquidity for assets such as Ether (ETH), wrapped Bitcoin (wBTC), and stablecoins on Aave v3.

The project also intends to launch on Scroll, offering a fast and accessible user experience for everyday users.

If approved by both AaveDAO and WLFi’s governance platform, users will be able to access Aave’s non-custodial, peer-to-peer borrowing and lending platform.

According to Luke Pearson, General Partner & Research Cryptographer at Polychain Capital and advisor to WLFi, the project presents a unique opportunity to create a platform that is both accessible and secure for experienced crypto users and newcomers alike.

He added that the chance to bring advanced programmable finance to institutional players and global markets is a major step in broadening DeFi’s reach.

However, some members of the Aave community have expressed skepticism and concerns regarding WLFi’s plans.

For instance, the user known as icaretoomuch stated that the proposal poses a significant risk to the Aave protocol for little gain and that they believe that WLFi should stand up their own fork or protocol independently and gain the trust of the crypto community before asking the largest and most trusted protocol in DeFi to take the risk of collaborating with an entity led by people of questionable backgrounds.

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