World Liberty Financial (WLFI), a decentralized finance (DeFi) project associated with the Trump family, has recently been accumulating digital assets, according to on-chain data. The project’s multisig wallet made a significant move on December 11, converting a portion of its USDC holdings into Ethereum (ETH), Aave (AAVE), and Chainlink (LINK), alongside other assets.
Key Asset Purchases
The wallet spent $10 million USDC to purchase ETH at an average price of $3,801, $1 million USDC for AAVE at $297.8, and another $1 million USDC to acquire LINK at an average price of $24.2. These assets have since seen notable price increases, with ETH up 3.5%, AAVE up 19%, and LINK up 2%, according to CoinGecko.
As of now, the WLFI wallet holds a diverse portfolio, including $57.2 million worth of ETH, $10.4 million in cbBTC, $3.2 million in USDC, and $1.76 million in USDC. The wallet also contains AAVE, LINK, and various memecoins—tokens likely included to attract promotion.
Aave Proposal Gains Traction
Simultaneously, WLFI's proposal to deploy a custom instance of Aave v3 is gaining momentum. The proposal, which went live on December 5, has garnered near-unanimous support from WLFI token holders. Voting on the proposal will close in approximately 17 hours.
The proposal aims to create a lending and deposit market supporting USDC, USDT, ETH, and WBTC, using Aave’s code. In exchange, AaveDAO would receive 20% of the fees generated from WLFI’s deployment and 7% of WLFI’s circulating supply, further cementing the collaboration between WLFI and Aave. WLFI protocol users will also be incentivized with WLFI tokens for participation.
WLFI Token Sale & Investor Support
World Liberty Financial's WLFI token sale, which began on October 15, continues to unfold, albeit under expectations. Initially targeting a $300 million raise with a fully-diluted valuation of $1.5 billion, the sale has thus far raised just $66.5 million. As of late November, the project had raised only $22 million, but the sale gained a significant boost when Justin Sun, founder of Tron, invested $30 million and became an advisor to the project. His backing has provided a much-needed injection of credibility and capital to WLFI’s ambitions.
A Promising Future?
Despite the slow start to its token sale, WLFI’s growing asset holdings, increasing support for its Aave proposal, and the strategic involvement of Justin Sun position the project as one to watch in the evolving DeFi landscape. As the project develops, its potential to bridge traditional finance and decentralized systems could impact both the crypto space and broader financial markets. Investors and participants are watching closely as WLFI moves forward with its plans, with eyes on both its token sale and governance proposal.
December 2024, Cryptoniteuae