Trump-Linked World Liberty Financial Accumulates ETH, AAVE, and LINK

The upcoming DeFi project linked to the family of Donald Trump is accumulating digital assets.

On Dec. 11, the multisig wallet of World Liberty Financial, the DeFi project associated with the Trump family, began converting some of its USDC into other assets.

On-chain data from Etherscan shows the wallet spending $10 million USDC to buy ETH at an average price of $3,801, $1 million USDC to buy AAVE at $297.8, and $1 million USDC to buy LINK at an average price of $24.2.

The assets have since rallied, with ETH up 3.5%, AAVE up 19%, and LINK up 2%, according to CoinGecko.

The wallet now holds $57.2 million worth ETH, $10.4 million in cbBTC, $3.2 million in USDC, and $1.76 million in USDC, alongside the AAVE, LINK, and various memecoins sent to the wallet in a bid to attract promotion.

Aave proposal gains traction

The buying comes as World Liberty Financial’s proposal to deploy a bespoke instance of Aave v3 appears on the cusp of going through.

The proposal went live on Dec. 5 and has since gained near-unanimous support from WLFI tokenholders. Voting will close in roughly 17 hours.

On Oct. 9, World Liberty Financial first outlined plans to deploy an instance of Aave v3 supporting deposits and lending markets for USDC, USDT, ETH, and WBTC. In exchange for borrowing Aave’s code, AaveDAO would receive 20% of the fees generated by WLFI’s deployment alongside 7% of WLFI’s circulating supply.

“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.

Protocol users would receive WLFI tokens as incentives for participating.

WLFI tokensale

World Liberty Financial’s WLFI token sale, which launched on Oct. 15, remains ongoing.

The sale fell short of expectations after initially targeting a $300 million raise at a fully-diluted valuation of $1.5 billion. As of Nov. 24, participants had purchased just $22 million worth of tokens.

On Nov. 25, Justin Sun, the founder of Tron, announced he had invested $30 million into the sale. “We are thrilled to invest $30 million in World Liberty Financial as its largest investor,” Sun tweeted. On Nov. 27, World Liberty Financial announced it onboarded Sun as an advisor to the project.

The sale has raised nearly $66.5 million to date, with Sun’s investment accounting for 45% of the total.