FX168 Financial News Agency (Asia Pacific) reported that the Trump family announced on the official Telegram on Friday (October 11) that the financial revolution protocol of its decentralized finance (DeFi) project World Liberty Financial (WLFI) has been launched, which will allow the adoption of large-scale institutional capital. According to data from Polymarket, a large cryptocurrency betting platform, Trump's chances of winning the November election far exceeded those of former Vice President Kamala Harris, reaching 55.5%.
The WLFI project managed by the Trump family disclosed in its roadmap that it plans to raise $300 million at a valuation of $1.5 billion.
According to the link to the WLFI project Medium article attached by the Trump family, the content mentioned that by integrating top technology, deep cryptographic expertise and brand influence, WLFI intends to launch a powerful global DeFi protocol that aims to bring a permissionless digital asset system to everyone. WLFI will also launch the WLFI Governance Platform, a DeFi governance platform for WLFI token holders that aims to help shape the WLFI protocol through governance.
Source: Medium
"The WLFI protocol aims to be a one-stop service platform for all DeFi, and it is designed and built by leading pioneers in the crypto industry. The WLFI protocol is committed to combining the leading technology of the blockchain industry with strategic partnerships and extensive distribution channels built for mass adoption to redefine the DeFi landscape," the article said.
The WLFI governance platform will help control important parameters of the WLFI protocol. WLFI aims to support mass adoption and leverage the distribution of DeFi protocols through its decentralized governance platform, which will be designed to be highly accessible, intuitive and community-controlled.
WLFI plans to let WLFI protocol users enjoy simple onboarding and familiar UI/UX through one-click social login and wallet creation. Given the potential size, scale and reach of the WLFI protocol, it is possible to create the foundational elements required for first-class consumer applications.
Subject to the approval process of the WLFI governance platform, WLFI plans to operate separate "instances" on Ethereum and Scroll. Ethereum has deep liquidity and is ideal for handling large-scale institutional capital, while Scroll is a fast, secure and cost-effective zero-knowledge aggregation that enables a gas-free user experience through payment services.
WLFI believes that the promise of DeFi is permissionless access to information and digital asset systems that are ultimately controlled by the DeFi community (including its users).
The Trump family mentioned that many aspects of traditional finance are slow to develop, and DeFi can help break this pattern. On-chain transactions are final - no more pending status or unexpected reversals. The article emphasizes that DeFi operates 24/7, giving users 24/7 control over their digital assets. Through the WLFI token voting governance platform, community members can shape the WLFI protocol.
WLFI proposes to launch an instance on Aave, subject to a successful governance vote on the AaveDAO and WLFI governance platform. Through this proposed Aave instance, the WLFI protocol (if approved) has the potential to give users access to one of DeFi’s most preeminent, proven, non-custodial, decentralized lending platforms. The partnership aims to combine the decentralized and permissionless lending that form the backbone of DeFi with the usability and user experience of Web2.
Luke Pearson, General Partner and Research Cryptographer at Polychain Capital and advisor to WLFI, described the project as “a unique opportunity to build a platform that is accessible and secure to both experienced crypto users and newcomers. The opportunity to bring sophisticated programmable finance to major institutional players and global distribution channels is the final stage in making DeFi truly accessible to a wider audience.”
In addition, based on input from WLFI token holders, WLFI anticipates that future governance proposals may include an Aave instance on Scroll. Subject to WLFI platform governance approval and other considerations, WLFI plans to launch on Scroll. Scroll’s zkEVM leverages advanced cryptography and zero-knowledge proofs to secure assets while providing a seamless user experience comparable to Ethereum mainnet.
Scroll also offers lightning-fast transaction finality, making it a prime destination for liquidity. In addition, Scroll pioneered a multi-proof system that uses zero-knowledge proofs and trusted execution environment (TEE) proofs to verify transactions, greatly enhancing the security and integrity of the protocol.
"As WLFI moves toward full deployment, we look forward to engaging with our community and inviting WLFI token holders to jointly shape the future of the protocol," the Trump family finally mentioned.
As of Friday's Asian market, Polymarket data showed that Trump's chances of winning the November election reached 55.5%, approaching the 57% peak when the current President Biden announced his withdrawal from the election.
Source: Polymarket
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