US presidential election/Donald Trump update! 

The Trump-backed crypto platform, World Liberty Financial, has submitted a governance proposal to Aave, aiming to operate on the DeFi protocol.

In the Oct. 9 proposal, World Liberty Financial announced plans to launch its service as an Aave v3 instance on the Ethereum mainnet, with Aave acting as the platform's back end. 

The proposal includes offering AaveDAO, the group of Aave token holders overseeing the protocol, 20% of the fees generated and 7% of the platform’s governance token, WLFI.

The project claims that running as an Aave instance would enhance liquidity for the stablecoins, Ether and Wrapped Bitcoin it plans to host, while also expanding Aave’s user base. 

Initially, deposits would be accepted in Ether, WBTC, USD Coin, and Tether.

In an Oct. 9 X post, World Liberty Financial stated that the proposal “aligns perfectly” to create an accessible DeFi user experience. If successful, the project plans to expand to the Ethereum Layer 2 blockchain Scroll.

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