Trump offers support for Decentralized Finance (DeFi) initiative WLFI, scheduled for launch on LBank platform
World Liberty Financial (WLFI), a DeFi project with ties to the Trump family, is set to make its global debut on LBank on September 1, 2025, at 13:00 UTC (6:30 IST). This announcement was made today on Twitter.
The WLFI ecosystem consists of two tokens: USD1, a 100% USD-backed stablecoin, and WLFI, a governance token. USD1 is secured with U.S. Treasury bonds and its custody is handled by BitGo.
The Trump family holds a significant stake in WLFI, having contributed over $500 million in the first funding round. Major investors, such as Abu Dhabi's Aqua1 Foundation, which allocated $100 million, have also shown interest in the project.
WLFI's goal is to create a simple, useful financial tool for both advanced cryptocurrency users and everyday people. It aims to bridge decentralized finance (DeFi) and traditional finance, offering a more accessible approach than major sector players.
The project's core functionality is built on Aave's lending system, one of the oldest and most reliable in the decentralized finance realm. WLFI is expanding to multiple blockchains, including Ethereum and BNB Chain.
LBank will apply a 0.2% fee for transactions involving WLFI, considered a standard rate for a debut of this scale. All deposits and withdrawals for WLFI will be enabled 24 hours after launch.
However, critics have raised concerns about the project's ownership, as insiders are believed to control most of the tokens and revenue rights. WLFI serves as a governance token, granting holders the power to vote on the platform's operations.
In its early development stages, the token was used by institutions, as demonstrated by a UAE fund transferring over $1 million to Binance, moving over $2 billion. This suggests that WLFI has already gained traction among institutional investors.
As WLFI prepares for its debut, it promises to bring a fresh perspective to the DeFi landscape, making it more accessible for a wider audience. Stay tuned for more updates on this exciting project.
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