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Tron Founder and CEO Justin Sun recently invested $30M into WLFI, a DeFi project ‘backed by Trump’. Although WLFI may not be a great investment for many, as the tokens are not sellable, they signal a huge turning point for DeFi projects like Aave and Cutoshi . What Do Justin Sun, Donald Trump And A Banana Have In common? Sun, who recently spent $6 million on a banana taped to a wall in Sotheby’s, got out his wallet again yesterday to invest $30M into World Liberty Finance (WLFI).
This huge investment has landed him the role of “advisor to World Liberty Financial” according to a recent X post . There is no doubt that this says a lot about the future of DeFi in the US and beyond and Trump’s promise to make the country “the crypto capital of the world”. Who Owns World Liberty Finance? According to the project website, it denies direct ownership or operational involvement of Donald Trump or his affiliates but also says at the bottom of the page in fine print that they could receive up to 22.
5 billion WLFI tokens and 75% of net protocol revenues once the funding exceeds $30M. In the “Gold Paper” with Donald Trump’s face on every page, it says, “Inspired by the vision of Donald J. Trump, WLF’s commitment to reshape the financial landscape” It also lists Donald J.
Trump as Chief Crypto Advocate, Eric Trump as Web3 Ambassador and Donald Trump Jr as another advisor. DisruptionBanking clarifies this; “Trump has only licensed his name to the company and doesn’t assume legal exposure.” What Does WLFI Actually Do? Before you go spending your crypto on WLFI, it's worth being aware that it's not your usual crypto, as it cannot be resold or even transferred to anyone else.
So the point of $WLFI, from a user perspective, seems to be about holding governance rights to allow token holders to vote on the future of DeFi-related proposals. A proposal made yesterday makes things clearer, as it suggests launching an instance of Aave on Ethereum to “provide liquidity for Ethereum, wrapped Bitcoin, certain stablecoins and potentially other digital assets” for the use of WLFI token holders. The idea behind the proposal is to introduce new people to DeFi and the advantages of crypto-based overcollateralization borrowing and lending, much like what Aave currently offers.
The proposal goes on to explain: “WLFI intends to onboard new users into DeFi by providing seamless user experiences for supplying and borrowing against digital assets. Many of these users will be first-time DeFi users, which will build brand loyalty and recognition for both WLFI and Aave.” How Cutoshi Benefits From This Cutoshi is a memeFi project that also aims to bring new people to DeFi, inspired by the vision of Satoshi Nakamoto and his aim of financial freedom and autonomy via blockchain.
Like World Liberty Finance, the Cutoshi team recognizes that DeFi can seem confusing and intimidating, so it offers an easy-to-use decentralized exchange. It is cross-chain, which makes it easier to navigate trading on various blockchains. They also want to offer a learning academy to get new DeFi participants confident and knowledgeable about all their options.
The fact that it's a meme makes it appealing to new crypto users who often enter the market through memes like Shiba Inu, Dogecoin, or new coins like Cutoshi. Whether you’re in favor of WLFI or not, this move by Trump and Sun, who own one of the biggest and most popular blockchains, TRON, is incredibly bullish on Cutoshi. It shows the upcoming administration’s commitment to expanding DeFi and bringing it into the mainstream.
It also shows the new government’s support for presales and ICOs, which is ideal since Cutoshi is still in the presale phase. While WLFI won't directly bring holders profit, Cutoshi can, through promoting the same ideals but also allowing people to trade the token once the presale concludes. Cutoshi has already raised over $1.
1M in presale funding and this is likely just the start for the project, which seems to be very well aligned with the DeFi-based goals of WLFI. https://cutoshi.com/ https://twitter.
com/CutoshiToken https://t.me/cutoshi Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp _____________ Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.
e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments.
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