In addition to announcing plans to use Aave to create a decentralized financial system, World Liberty Financial said it had recruited security partners to review its code.
Despite initially giving few details about its goals, World Liberty Financial, the Trump family’s DeFi venture, suggested US-pegged stablecoins for wider adoption on Wednesday.
The team declared on its official Telegram channel their intention to ensure US-pegged stablecoins serve as the global settlement layer for the next century.
“The US dollar has been the backbone of global finance for decades, but it’s now under attack by foreign nation-states,” it said.
“By spreading US-pegged stablecoins around the world, we ensure that the U.S. dollar’s dominance continues, securing America’s financial leadership and influence on the global stage,” the team added.
[6/7] By spreading U.S.-pegged stablecoins around the world, we ensure that the U.S. dollar’s dominance continues, securing America’s financial leadership and influence on the global stage. 🇺🇸💰
— WLFI (@worldlibertyfi) September 4, 2024
Security Companies Are Involved in the Trump DeFi Project to Review Code
For its project, World Liberty Financial has enlisted security partners such as Tokyo, Fuzzland, Peckshield, and BlockSecTeam. Its code has also been examined by these partners.
The project also disclosed its objective, which is to use Aave’s non-custodial lending platform to create a decentralized financial system. The day’s last 10% was Aave.
“We’re not just another hostile fork of Aave. History shows those don’t work,” the statement said.
World Liberty Financial Could Resemble Dough Finance
According to reports, the upcoming DeFi project, World Liberty Financial, might have a structure similar to Dough Finance. Dough Finance provided a user-friendly platform for lending, liquidity, and yield farming in an effort to make DeFi easier for newcomers.
If World Liberty Financial adopts this strategy, it should offer a DeFi operations interface that is easy to use and requires little understanding of blockchain. But considering Dough Finance’s past, World Liberty Financial might encounter comparable security issues, particularly if it makes use of Dough’s original code.
Separately on Tuesday, hackers promoted a token purportedly associated with World Liberty Financial by taking over Trump’s daughter-in-law’s and daughter’s X accounts.