As a seasoned crypto investor with over a decade of experience under my belt, I’ve seen my fair share of market fluctuations and project announcements. The recent news about World Liberty Financial (WLFI) has certainly piqued my interest.
Under the spotlight is World Liberty Financial (WLFI), a financially decentralized project backed by President-elect Donald Trump, following its notable acquisition of a $12 million asset.
With the help of USD Coins (USDC), WLFI procured several digital assets such as Ethereum (ETH), Chainlink (LINK), and Aave (AAVE).
WLFI’s Crypto Buying Spree
On December 12, transactions were logged through WLFI’s multi-signature wallet, as reported by blockchain analytics platform Lookonchain. Etherscan data indicates that the fund purchased approximately $10 million in ETH when each token cost around $3,801, $1 million worth of LINK at roughly $24.2 per unit (around 41,335 LINK), and about $1 million in AAVE tokens at a price of around $297.8 per token (approximately 3,357 AAVE).
Based on SpotOnChain’s report, WLFI has made its initial acquisition of LINK and AAVE. Furthermore, the company disclosed that over the last fortnight, they invested a total of 30 million dollars to purchase approximately 8,105 Ether at an average cost of around $3,701 each.
As an analyst, I’ve noticed a surge in purchasing activity that can be attributed to a significant investment of $30 million made by Justin Sun, the founder of Tron. With this investment, Sun has become WLFI’s largest shareholder. Excited about this development, Sun shared his enthusiasm on a November 25 post on X.
“Excitedly, we’ve decided to pour $30 million into World Liberty Financial (WorldLibertyFi) as their main financial backer.” On the following day, it was verified that the creator of Tron had taken on an advisory role within the project.
Commencing in September, World Liberty presents itself as a peer-to-peer digital money market allowing users to borrow, lend, and accrue interest on cryptocurrencies. Initially, the project encountered some financial difficulties because the initial sales did not meet the projected $300 million goal.
As a result of this circumstance, they adjusted their fundraising goal down to $30 million. However, despite the challenges, data from their website shows that they have already collected over $66.4 million by selling approximately 4.43 billion tokens.
Strategic Partnership with Chainlink to Boost DeFi Adoption
In a related update, it was recently disclosed that the platform entered into a collaboration with Chainlink on November 14, aiming to hasten the deployment of DeFi (Decentralized Finance). As per the announcement, this DeFi protocol will act as WLFI’s main source for on-chain data and cross-chain connectivity, helping in the project’s impending launch on the Ethereum primary network.
At first, during the integration process, it intends to incorporate Chainlink’s Price Data Feeds to facilitate the secure addition of digital assets such as USDC, USDT, ETH, and WBTC for its Aave v3 system. The Governance System is anticipated to sanction this integration.
In simpler terms, Sergey Nazarov, one of Chainlink’s co-founders, emphasized the network’s proven security and stability as significant reasons for its selection as WLFI’s infrastructure provider. Moreover, he expressed that this collaboration would strengthen the allure of the Trump-supported project within the DeFi community by offering users who appreciate robust technology a reliable platform.
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2024-12-12 13:20