World Liberty Financial (WLF), a new cryptocurrency venture linked to the family of former US President Donald Trump, has garnered considerable attention and controversy.
Foundation of World Liberty Financial
The project is built on Aave's DeFi platform and the Ethereum blockchain. It features Donald Trump as the 'Chief Crypto Advocate' and his sons Eric and Donald Trump Jr. as 'Web3 Ambassadors'. WLF intends to issue a non-transferable governance token, WLFI, which may limit its market liquidity.
Link to Dough Finance
World Liberty Financial raises concerns due to its association with the project Dough Finance, which was hacked for $1.8 million in a flash loan attack this July. Many members of the WLF team previously worked on Dough Finance, adding complexity and raising security concerns.
Scam Warnings
The WLF platform has gathered over 230,000 subscribers in its official Telegram channel despite the lack of detailed information about the project. However, growth has been marred by scammers using the platform for fake cryptocurrency giveaways. The Trump family has already warned users about potential scams, urging them to trust only verified channels.
The rapid development of the World Liberty Financial project generates both interest and concerns, particularly regarding security and scams. Users are advised to remain vigilant and thoroughly research information before making any decisions.
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