politics

DeFi

I listened to the whole 2+ hr Twitter spaces by @rugradio about World Liberty Financial, the upcoming defi platform promoted by the Trump family so that you don't have to. Here is my summary with additional thoughts as someone who has been in crypto since 2013 and used defi since DeFi Summer. 

Potential bias warning: Note that I don't like Donald or the Trump family and never vote Republican.

- First and foremost the governance token (WLFI) will be sold in the US only to accredited investors and outside the country per local regulations. This token is governance related only and votes will be capped at 5%/person regardless of the # of tokens owned. 20% to team, 17% as user rewards, 60% to the public. They did say it is non-transferable too, so that brings up questions about finer details.

- Additional specifics about the platform were not given but discussion about Aave and Trump companies having issues accessing credit at times leads me to believe this is purely a lending platform.

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