World Liberty Financial, Trump’s crypto project, confirmed in a management proposal to Aave that the platform will be built on Aave and that Aave v3 will run as an instance on the Ethereum mainnet. This step will enable the platform to use the DeFi protocol as a backend.

In the proposal submitted on October 9, it was stated that the World Liberty Financial service would be launched as an Aave v3 instance and that it proposed to give 20% of the fees it would generate to AaveDAO, which consists of Aave token holders that control the Aave protocol, and 7% of WLFI, the platform’s management token. .

The Trump-backed project argued that working on Aave would increase liquidity for Ether, Wrapped Bitcoin (WBTC) and stablecoins. At the same time, this is seen as an opportunity that has the potential to expand Aave’s user base.

The project stated that it will accept deposits in Ether, WBTC and stablecoins USD Coin and Tether in its initial phase. It also plans to implement the reserve factor system used in the main Aave instance and establish a reliable smart contract to ensure revenue distribution.

While this structure provides a system parallel to the operation of AaveDAO, it will also serve World Liberty Financial’s own users.

AaveDAO members have begun evaluating this proposal and members will be able to participate in discussions about the proposal. In the final stage, the proposal will find its final decision through separate votes of both AaveDAO members and WLFI token holders that manage the World Liberty Financial platform. This process is a critical step to confirm the project’s integration with Aave.

In its X (formerly Twitter) post on October 9, World Liberty Financial stated that this proposal is a “perfect fit” and aims to create a more accessible DeFi experience for users. It was emphasized that the platform is committed to the mission of providing a service that DeFi users can access more easily.

If the Aave integration is successful, it was also announced that World Liberty Financial plans to expand to Ethereum’s layer 2 blockchain, Scroll. However, all the details about the platform have not been fully disclosed yet.

Trump had previously made several mysterious posts about this project and stated that the platform aimed to popularize the use of US dollar-pegged stablecoins.

In an X live broadcast last month, all details of the World Liberty Financial project managed by Trump’s family were expected to be shared. The publication includes Trump’s sons, Eric and Donald Trump Jr. He was focused on this crypto project led by .

However, Trump barely touched on crypto and made no mention of the project in his 45-minute speech. This speech took place after a second assassination attempt against him in Florida.

Later, the World Liberty Financial team shared some details about the WLFI token and the services offered by the platform. According to a leaked white paper, it was stated that the platform will offer users a digital wallet service, provide a credit account system, create an infrastructure where they can lend and receive loans to others, and offer the opportunity to invest in assets through tokens.

It was also stated that the platform will be open source and will offer a lending service similar to Dough Finance. World Liberty Financial’s team includes a team of four people building the DeFi protocol. However, Dough Finance lost $1.8 million in a flash loan attack in July, which may raise some concerns about the project.