Trump-Backed Crypto Project Proposes Aave V3 Launch on Ethereum Mainnet with Potential $105M Gain

Oct 9, 2024, 10:51 PM

World Liberty Financial (WLF), a cryptocurrency project backed by former President Donald Trump, has submitted a proposal to launch an Aave V3 instance on the Ethereum Mainnet. The proposal includes allocating 7% of WLF's token supply to the Aave treasury, which could potentially result in significant gains for AaveDAO. If WLF raises at a $1.5 billion valuation, Aave stands to gain $105 million from the token allocation. Additionally, AaveDAO will benefit from 20% of the revenue fees and increased total value locked (TVL) from the proposal. This move aims to enhance liquidity for ETH, WBTC, and stablecoins like USDC on the Aave platform. The Aave treasury currently holds $62 million in non-native tokens.