In the Oct. 9 proposal, World Liberty Financial said it wants to launch its service as an instance of Aave v3 on the Ethereum mainnet, with the protocol acting as the platform’s backend infrastructure.
It was proposed to grant AaveDAO, a group of Aave token holders ($AAVE ) that oversee the protocol, 20% of the fees it generates and 7% of the supply of the platform's governance token, WLFI.
The project, backed by former US President Donald Trump, said that functioning as an instance of Aave would boost liquidity for the stablecoins, Ether ($ETH ) and Wrapped Bitcoin ($WBTC ) it plans to host, while also expanding Aave's user base.
The proposal revealed that World Liberty Financial would—at least initially—allow deposits in Ether and WBTC, along with the stablecoins USD Coin (USDC) and Tether (USDT).
The project also proposed using the same reserve factor system as the main Aave instance and a trustless smart contract to set up revenue splitting.
AaveDAO members can discuss the proposal before voting on it. WLFI token holders, who govern the World Liberty Financial platform, must also approve the proposal separately.
In an Oct. 10 X post, World Liberty Financial said the proposal “aligns perfectly” to create an easily accessible DeFi user experience.
He added that if the integration with Aave is successful, he plans to expand to Ethereum’s layer 2 blockchain, Scroll.
Full details about the platform have been gradually revealed. Trump has previously made several cryptic comments about World Liberty Financial, and the project has suggested it wants to promote the use of stablecoins pegged to the US dollar.
