World Liberty Financial’s Governance Approves Aave Deployment

World Liberty Financial’s community has rallied behind a proposal to launch an instance of Aave v3, the largest web3 money market protocol by TVL.

On Dec. 13, the first governance proposal from World Liberty Financial, the upcoming DeFi project linked to the family of President-elect Donald Trump, was approved by WLFI holders.

The proposal, which outlines plans to launch an instance of the Aave v3 money market protocol on Ethereum, passed with near-unanimous support, with 8 billion WLFI tokens mobilized in support of the proposal to 181,700 WLFI against.

The instance would initially support borrowing and lending in the form of Ethereum (ETH), Wrapped Bitcoin (WBTC), Tether (USDT), and USD Coin (USDC), with the possibility of onboarding other assets in the future.

AaveDAO would receive 20% of fees generated by the protocol in exchange for the code, alongside 7% of WLFI’s supply to facilitate Aave’s participation in World Liberty Financial governance moving forward.

“AaveDAO will receive… approximately 7% of the total circulating supply of $WLFI tokens for participation in future WLFI Governance procedures, liquidity mining, and promoting decentralization of the WLFI platform,” the proposal said.

World Liberty Financial first announced its intention to launch an instance of Aave v3 in October. Although an initial temperature check received support on Aave’s governance forum, the proposal still needs to pass through Aave’s formal governance process.

World Liberty Financial Accumulates LINK and AAVE

On the same day, the multisig wallet associated with World Liberty Financial was spotted swapping $1 million USDC for Chainlink (LINK) and $246,722 USDC for Aave (AAVE).

The move comes one day after the project purchased $1 million worth of LINK and AAVE, and $10 million worth of ETH.

World Liberty Financial’s wallet now holds $57 million worth of ETH, $10.3 million in cbBTC, $3.25 million in USDT, $2.27 million in LINK, $1.49 million in AAVE, and roughly $568,600 in USDC.