Trumps’ DeFi project to go public soon
A few weeks ago, Donald Trump announced the upcoming opening of a DeFi platform to dethrone the Bank of America, which he considers obsolete. This project, in collaboration with his sons Eric Trump and Donald Trump Jr. and Barron Trump lands next Monday. But what will that change?
🇺🇸 TRUMP announces that he will launch his “World Liberty Financial” project on September 16. pic.twitter.com/HtDNXxEDPk
— Goku 🗞 (@Crypto__Goku) September 12, 2024
When the Trump family revealed the opening of World Liberty Financial, little information was released on the subject. As the deadline approaches, we now know more.
The future platform is built on Aave and uses the Ethereum blockchain. It also appears to specialize in decentralized lending and borrowing, as well as the exchange and use of stablecoins. Coins indexed to the dollar will be highlighted in this perspective.
Moving on: What are stablecoins?
According to Forbes, World Liberty Financial’s native token, WLFI, will also launch at the same time. But be careful, it won’t be possible to speculate on it because it is a non-transferable control token. In other words, its holders will only be able to use it to participate in decision-making within the project. They will not be able to transfer it to another address or sell it.
The industry sways to the whim of Donald Trump
If the cryptosphere is curiously awaiting the release of the famous DeFi platform, it will find that it is eminently influenced by the decisions of Donald Trump.
Despite the disappointment caused by his debate with Kamala Harris and its implications for the market, the main man has just rejected any further meeting with his opponent. Therefore, the topic of cryptocurrency will not be discussed publicly during the presidential campaign.
Analysts at Standard Chartered believe that the outcome of the election will significantly affect the price of Bitcoin. So she should reach $125,000 if Donald Trump wins, but only $75,000 if the Democratic candidate wins.
Moral of the story: you have to love the novelty offered by a DeFi platform as prudent innovators.
Disclaimer
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