Donald Trump will issue cryptocurrency loans on his own digital platform

The family of former US President Donald Trump has announced the launch of its own decentralized crypto platform, World Liberty Financial, which specializes in lending. The platform will operate on the basis of the Aave decentralized finance protocol and the Ethereum blockchain ETH $2,674.04 Bridged Ether (StarkGate) -1.19% Market capitalization $0.2 billion VOL. 24 hours $0.36 billion , which, according to the developers, should simplify the procedure for obtaining loans for users.

The project will use the non-transferable WLFI management token, which will play a key role in decision-making within the community. Users will be able to vote for adding new DeFi lending markets or integrating other blockchains. It is promised that the platform’s interface will be convenient and simple for users.

In the World Liberty team, Donald Trump is the «chief crypto lawyer,» his sons, Eric and Donald Jr. act as «Web3 ambassadors,» and his youngest son, 18-year-old Barron, is listed as a «DeFi visionary.» Despite the successful launch of the platform, the accounts of some members of the Trump family were hacked to promote fake tokens.

This is not the first time Donald Trump has been involved in the crypto industry. Earlier, he reported owning cryptocurrencies worth up to $ 5 million.