{"id":136713,"date":"2024-09-04T14:30:33","date_gmt":"2024-09-04T11:30:33","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=136713"},"modified":"2024-09-04T11:25:45","modified_gmt":"2024-09-04T08:25:45","slug":"here-is-what-to-know-about-the-trump-familys-new-crypto-project","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/here-is-what-to-know-about-the-trump-familys-new-crypto-project\/","title":{"rendered":"Here is What to Know About the Trump Family&#8217;s New Crypto Project"},"content":{"rendered":"<p>Behind the scenes, however, the former US president\u2019s inner circle is quietly working on a white paper for World Liberty Financial. <strong><a href=\"https:\/\/www.coindesk.com\/business\/2024\/09\/03\/inside-the-trump-crypto-project-linked-to-a-2m-defi-hack-and-former-pick-up-artist\/\" rel=\"nofollow\">CoinDesk<\/a><\/strong> has obtained portions of this document.<\/p>\n<p>The white paper, along with other reports, outlines a borrowing and lending service that closely resembles Dough Finance, a blockchain application that was recently hacked by four individuals who are now part of the World Liberty Financial team. Trump\u2019s three sons, including 18-year-old Barron, who is described as the project\u2019s \u201cDeFi visionary,\u201d are also involved, along with various financiers and e-commerce influencers.<\/p>\n<p>The latest information indicates that this project will be a decentralized finance (DeFi) lending platform built on Ethereum and Aave. Additionally, the project will feature a governance token, WLFI, which will be non-transferable.<\/p>\n<p><div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1\">Read More:<\/h5>\n    <a class=\"article row post-136668\" href=\"https:\/\/cryptodnes.bg\/en\/ripple-plans-to-introduce-smart-contracts-on-xrp-ledger-next-year\/\" title=\"Ripple Plans to Introduce Smart Contracts on XRP Ledger Next Year\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/12\/coin_ripple-1-big-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Ripple Plans to Introduce Smart Contracts on XRP Ledger Next Year<\/h4>\n        <\/div>\n    <\/a>\n<\/div>\n<\/p>\n<p>Due to the transfer restrictions on WLFI, it will be challenging to speculate on the token\u2019s price.<\/p>\n<p>According to World Liberty Financial\u2019s white paper, the project will incorporate a \u201ccredit accounting system\u201d based on the <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/aave\/\">Aave<\/a><\/strong> DeFi platform and <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/ethereum\/\">Ethereum<\/a> <\/strong>blockchain, enabling decentralized borrowing and lending.<\/p>\n<p>Governance tokens like WLFI usually allow holders to take part in the governance of the project. In this case, platform users will be able to \u201cpropose and vote on the addition of new DeFi lending markets or the integration of new blockchains,\u201d as outlined in the white paper.<\/p>\n<p>The document also notes that the platform will feature \u201ca user-friendly interface for accessing WLFI either as a \u2018smart account\u2019 or through a broker.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>For several weeks, Donald Trump and his sons have hinted at an upcoming cryptocurrency initiative, although they have yet to share many details publicly.<\/p>\n","protected":false},"author":3,"featured_media":17703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[271,108,122,288],"coin_category":[],"class_list":["post-136713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-ethereum","tag-price","tag-trump","tag-world-liberty-financial"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Here is What to Know About the Trump Family&#039;s New Crypto Project<\/title>\n<meta name=\"description\" content=\"For several weeks, Donald Trump and his sons have hinted at an upcoming cryptocurrency initiative, although they have yet to...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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