A new project backed by former President Trump, aiming to launch a consumer application built on Aave’s DeFi technology, has been revealed. With plans for a one-click social login and wallet creation, the project seeks community feedback on its proposal to give Aave 20% of revenue. Some question the potential internal competition with Aave’s main instance, while others find irony in Trump’s history with creditors. Will this venture succeed in the decentralized lending space? Time will tell.
The Defi FunFacts:
Here are some fun facts about the World Liberty Financial project that is planning to operate on the Aave decentralized finance platform:
1. The project aims to be a “best-in-class consumer application” with simple onboarding and a familiar user interface.
2. World Liberty Financial plans to operate an instance of the DeFi project Aave on the Ethereum blockchain and eventually deploy on the layer-2 network Scroll.
3. The project has posted a proposal to the Aave governance discussion forum for community feedback, including offering 20% of revenue to Aave.
4. Some commenters have raised concerns about potential internal competition with Aave’s main instance and the irony of a decentralized lending protocol launched by a man notorious for not paying back creditors.
5. The project’s approach to user experience and revenue sharing is stirring up discussion within the cryptocurrency community.
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