New Details on World Liberty Financial

New details of the Donald Trump-connected crypto project, World Liberty Financial, have emerged in a new CoinDesk report published on Tuesday.

According to a whitepaper reportedly being workshopped, the project will be built on the decentralized finance platform Aave and the Ethereum blockchain, focusing on a “credit account system.”

Although announced in late August, originally branded as The DeFiant Ones, details of this Trumpian project have been scarce. The former president’s sons—Donald Trump Jr., Eric, and 18-year-old Barron—are reportedly involved in planning its eventual rollout. The initial announcement followed the launch of Donald Trump’s latest NFT series.

According to the whitepaper and a since-deleted GitHub codebase, World Liberty Financial is inspired by the DeFi protocol Dough Finance, although there’s no confirmation that Dough’s codebase will be used in the final product. The team also plans to issue a “non-transferable” governance token called WLFI.

Interestingly, Dough’s co-founders, Zachary Folkman and Chase Herro (often referred to as Chase Hero), are involved as the project’s head of operations and data and strategies lead, respectively. In July, Dough Finance suffered a $1.8 million flash loan attack.

In August, The Block Research’s Steven Zheng first noted the link between the Trump project and Herro’s connection to Dough Finance. The Block later revealed that the project’s name would likely be World Liberty Financial before it was officially confirmed.

Trump family members have warned the public against potential scams and stated that official announcements about the project will come via their personal and professional channels.

Initially a skeptic of cryptocurrencies, Trump has since embraced the industry and technology, prompting several leading crypto personalities to support him and donate to his campaign.

Update: Added details on previous reporting.