The current plan launched by World Liberty Financial – a DeFi scheme owned by the Trump family – is a call for more extensive usage of US-pegged stablecoins. While details of the project were not discussed initially, now it has provided its vision for these stablecoins to become the global settlement layer for the next 100 years.
In the statement sent to their official Telegram channel, the team stressed that it is significant for such tokens as USDT, USDC, BUSD, etc. to maintain the role of the U. S. dollar in international finance.
“The US dollar has been the backbone of global finance for decades, but it’s now under attack by foreign nation-states,” the statement read.
“By spreading US-pegged stablecoins around the world, we ensure that the U.S. dollar’s dominance continues, securing America’s financial leadership and influence on the global stage,” they added.
For more solidity of the project, the World Liberty Financial company cooperates with several large security companies: Tokyo, Fuzzland, Peckshield, and BlockSecTeam, which has analyzed the code of the project.
In addition, the initiative aims to build a decentralized financial system using aave’s non-custodial loan marketplace; the latter surged by 10% in value on the day of the announcement.
“We’re not just another hostile fork of Aave. History shows those don’t work,” the project stated, distancing itself from previous failed attempts to replicate Aave.
It is presumed that the structure of the World Liberty Financial might also be similar to Dough Finance – the platform that was created to introduce newcomers to DeFi through yield farming, liquidity, and lending. It is also important for World Liberty Financial to incorporate an easy to use interface so that the user is not required to have in-depth knowledge about block chain solutions. Though, some questions arise when the original code of Dough Finance is used, specifically, concerns regarding the security of the application.
They did manage to take over of the X (formerly Twitter) accounts of Trump’s daughter-in-law and daughter to spread a message to buy a token linked to World Liberty Financial.
