The Trump family’s DeFi venture, World Liberty Financial, proposed Wednesday to link stablecoin to the US for wider adoption, despite initially limited details on what it hopes to achieve.
The team declared on its official Telegram channel that it intends to ensure that US-linked stablecoins will serve as a global clearing layer for the next century.
“The U.S. dollar has been the backbone of global finance for decades, but is now under attack from foreign nation states,” he said.
“By spreading US-linked stablecoins around the world, we are ensuring that the dominance of the US dollar continues, securing America’s financial leadership and influence on the global stage,” – the team added.
Trump DeFi project hires security firms to review code
World Liberty Financial has enlisted security partners such as Tokyo, Fuzzland, Peckshield and BlockSecTeam for its project. These partners also reviewed the code. In addition, the project has revealed its goal of building a decentralized financial system using Aave’s no-deposit lending platform. Aave recently rose 10% on the day.
“We are not just another hostile fork of Aave. History shows that such do not work,” – the statement read.
World Liberty Financial may resemble Dough Finance
Reports suggest that World Liberty Financial, an upcoming DeFi project, may resemble Dough Finance in terms of structure. Dough Finance aimed to simplify DeFi for newcomers, offering an easy-to-use platform for yield farming, liquidity and lending.
If World Liberty Financial follows this model, it will likely provide a user-friendly interface for DeFi operations, requiring minimal knowledge of blockchain. However, given Dough Finance’s history, World Liberty Financial may have similar security concerns, especially if it uses Dough’s original code.
On Tuesday, hackers took over the X accounts of Trump’s daughter-in-law and daughter to promote a token allegedly linked to World Liberty Financial.
