Deeply analyze WLF supported by the Trump family: who is the suspected OEM behind the scenes

Author: 0xjs@Jinse Finance

Since former US President Trump fully embraced encryption, Trump's support for encryption has been frequently seen among industry insiders.

However, since September 2024, Trump has personally supported the Decentralized Finance project World Liberty Financial, and even occasionally promoted it on his official account with nearly 100 million followers, which has astonished industry insiders.

Not only that, well-known organizations and projects in the encryption industry are also increasingly involved, such as Luke Pearson from Polychain Capital, Sandy Peng from Scroll, Ryan Fang from Tomo Wallet, and Rich Teo from Paxos, all joining the World Liberty Financial advisory team.

On the evening of October 15, 2024, World Liberty Financial officially started its public sale, and the veil of World Liberty Financial finally came to light.

Golden Finance has summarized everything you need to know about World Liberty Financial.

What is World Liberty Financial?

According to official information from World Liberty Financial, the company describes its mission as promoting the widespread adoption of stablecoins and Decentralized Finance, particularly the US dollar stablecoin, to ensure the dominance of the US dollar. A key part of World Liberty Financial is leveraging the global influence and recognition of the Trump brand to bring as many Web2 users as possible into the Web3 world.

Therefore, World Liberty Financial will be a DeFi platform where users can borrow and lend cryptocurrency, create liquidity pools, and trade using stablecoins.

According to the proposal from World Liberty Financial on the Aave governance forum, World Liberty Financial requests a temperature check on the motion to deploy Aave V3 instances, which will allow USDC, USDT, ETH, and WBTC as collateral assets for borrowing and lending. World Liberty Financial will allocate 7% of its token supply to Aave DAO (worth $10.5 million) for governance and liquidity provision, as well as 20% of the ongoing fees generated by its platform.

According to public information, the first phase of World Liberty Financial is launching a version of Aave on the Scroll network of the ETH Layer 2, allowing users to borrow and lend Tokens.

World Liberty Financial is bound to the Trump family's Depth

When the outside world talks about World Liberty Financial, they generally add a prefix, which is "Trump family-supported" World Liberty Financial.

This is because World Liberty Financial is tied to the Depth of the Trump family.

Trump has repeatedly tweeted on social media to promote World Liberty Financial and referred to himself as the 'Chief Crypto Advocate' of the World Liberty Financial project.

Trump's two eldest sons, Donald Jr. and Eric, share World Liberty Financial's "Web 3 Ambassadors," and his youngest son, Barron ·Trump, 18, is World Liberty Financial's "Decentralized Finance Visionary." visionary）”。

Although World Liberty Financial is associated with the Trump family's Depth, from various signs, World Liberty Financial appears to be more like an OEM product of the Trump family. The Trump family brands and profits while unknown operators borrow the Trump family's reputation to launch products.

For the Trump family, this seems to be a common business practice. For example, many Trump hotels or buildings around the world are named after Trump, and many of them are licensed and operated in cooperation with Trump in the form of licensing and OEM. In addition to real estate, Trump continues to license his naming rights to other fields such as perfume, steak, and mineral water. Trump's daughter Ivanka is also a frequent OEM customer.

Suspected OEM World Liberty Financial

According to the World Liberty Financial White Paper, DT Marks DEFI LLC agrees to use reasonable efforts to require the owners and principals of DT Marks DEFI LLC, including Donald Trump, to occasionally promote WLF and the World Liberty Financial protocol, while granting World Liberty Financial and its related entities the right and license to use the name and likeness of the owners of DT Marks DEFI for publicity.

And it is true that Trump's photos appear on 11 of the 13 pages of the World Liberty Financial White Paper, and World Liberty Financial has also received the endorsement of the Trump family.

World Liberty FinancialWhite Paper Cover

In return, World Liberty Financial agrees that DT Marks DEFI LLC will receive 22.5 billion WLFI tokens and will be entitled to receive 75% of the protocol's net income, which is determined after deducting agreed operating expenses and initial treasury reserves. The Service Protocol may be terminated by DT Marks DEFI LLC under certain conditions for "good cause" or for non-renewal at the end of the initial 5-year period.

DT Marks DEFI LLC is a Delaware limited liability company (of which Trump is one of the owners), whose affiliated entities have received or may receive compensation for providing services to World Liberty Financial and its affiliates. These services are provided pursuant to a service protocol with Axiom Management Group, LLC ("AMG"), a Puerto Rican limited liability company wholly owned by Chase Herro and Zachary Folkman, and World Liberty Financial was established under the guidance of AMG principals. AMG is entitled to receive 7.5 billion WLFI tokens and 25% of the net revenue from the protocol, but agrees to allocate 50% of this to WC Digital Fi LLC, a related company of Steve Witkoff and some of his family members.

Take another look at the World Liberty Financial team members.

Co-founder Chase Herro and Zak Folkman of World Liberty Financial own AMG, which entitles them to half of the 7.5 billion WLFIToken and 25% of the net income from World Liberty Financial protocol, with the other half of the Token and protocol income going to co-founder Steven Witkoff's family (co-founders Steven Witkoff, Zach Witkoff, Alex Witkoff).

World Liberty Financial mastermind

Although Chase Herro and Zak Folkman, co-founders of World Liberty Financial, have worked in the encryption industry, they are not well-known in the encryption world.

According to CoinDesk, Chase Herro and Zak Folkman previously developed the Decentralized Finance product Dough Finance, but failed to gain followers and suffered a Hacker attack in the summer of 2024, losing $2 million. Chase Herro and Zak Folkman also co-created the creator platform Subify, which claims to be an uncensored competitor to well-known creator platforms Patreon and OnlyFans. Folkman previously registered a company called Date Hotter Girls LLC and published content on YouTube on how to approach women.

The blockchain leader of World Liberty Financial is Octavian Lojnita. According to Octavian Lojnita's online resume, he is from Romania and is a full-stack developer. Octavian Lojnita previously worked at Dough Finance. The anonymous front-end developer Boga of World Liberty Financial is listed as the author in the Source Code of Dough Finance (under 0xboga).

Coindesk also reported that World Liberty Financial had previously released a codebase on GitHub, which was later deleted. Review of their codebase indicated that World Liberty Financial (at least in the early stages) appeared to directly copy code from Dough Finance.

But on September 4, 2024, World Liberty Financial posted on X that World Liberty Financial did not want to take any risks and that its code "has been thoroughly reviewed by audit firms such as BlockSec, Fuzzland, PeckShield, Zokyo, and others."

Although World Liberty Financial has started selling governance token WLFI to the public on its official website, the World Liberty Financial protocol and application have not yet been launched. It is currently unclear whether World Liberty Financial's subsequent versions contain Dough Finance's early code or vulnerabilities.

World Liberty Financial's other three co-founders include Steven Witkoff. According to public information, Steven Witkoff is a well-known real estate developer and an old friend of Trump.

WLFI Token Information

WLFI Token Price: $0.015

Total Public Sale: 20 billion tokens (equivalent to 300 million US dollars)

Sold: As of the deadline for this article, only 7.23 billion tokens have been sold (approximately $10 million), with 192 billion tokens still for sale.

Token Total Supply: 100 billion

FDV: $1.5 billion

Contract Address: 0xda5e1988097297dcdc1f90d4dfe7909e847cbef6

WLFI Token Distribution:

• 35%Token sales: A significant proportion of WLFIToken will be allocated to eligible participants through token sales, encouraging their widespread participation in WLF protocol decision-making and rise.
• 32.5% community rise and incentives: This part will be reserved for expanding governance participation in the WLF community and supporting the construction of the WLF protocol.
• 30% initial supporter allocation: This part of the Token is allocated to the initial supporters (22.5 billion + 7.5 billion, this part has been allocated to the Trump and World Liberty Financial trading team).
• 2.5% Team and Advisers: This portion of Tokens will be used to reward the core team, advisers, service providers, and individuals who have contributed to the development of WLF protocol.

World Liberty Financial Token WLFI also has a special feature: The token is in a non-transferable state and is locked indefinitely in a Wallet or Smart Contract. Users should consider the purchase of WLFIToken as the purchase of other non-refundable goods and services.

World Liberty Financial claims that if it wants to unlock the transferability of WLFI through the protocol governance process in the future, such unlocking is only allowed if it is determined not to violate applicable laws and must be after more than 12 months after the completion of the Token sale. WLFI holders should assume that the Token is not transferable indefinitely. World Liberty Financial also has no plans to create a Secondary Market for WLFI Token.

The reason why WLFI Token is non-transferable may be to avoid regulation. This is intended to make WLFI appear less like a security in the eyes of regulatory agencies, making it difficult to buy and sell the asset like other encryption Tokens.

In addition to not transferring Tokens, World Liberty Financial's operator has been cleverly taking multiple actions in advance to avoid regulation by US law enforcement agencies.

How does the WLFI token avoid US regulation

First is the investor requirement. Given Trump's immense influence in the United States, World Liberty Financial first targets Americans. World Liberty Financial requires American participants in the investment to be "accredited investors" as defined by Regulation D, and undergo KYC procedures. Overseas investors are also required to undergo KYC and to offer and sell Tokens in a manner that complies with the safe harbor conditions specified in Section 506(c) of the Securities Act.

Secondly, in terms of Token utility. According to the official website of World Liberty Financial, World Liberty Financial has made special arrangements for the utility of its WLFIToken, requiring WLFIToken to:

For governance purposes only. The sole purpose of holding WLFI is for governance, not for any investment. As a Tokenholder, you will only have the right to propose and vote on decisions that shape the future of the World Liberty Financial protocol, including decisions regarding marketing plans, future features, and more.

No Economic Rights. Tokens do not grant any express or implied rights, except the right to use Tokens as a means of participating in the governance of the WLF protocol through the WLF governance platform. WLF Tokens do not represent or grant any ownership or equity, shares or securities or equivalent rights, or any rights to receive any allocation, income sharing, additional Tokens, intellectual property or any other form of participation or association with the WLF protocol and/or the Company and its affiliates.

Non-Transferable. All WLFI Tokens are non-transferable and indefinitely locked in a Wallet or Smart Contract. Users should consider the purchase of WLFITokens as the purchase of other non-refundable goods and services and accept the risk. If in the future, the transferability of WLFI is desired through protocol governance procedures, such unlocking can only be allowed if it is determined not to violate applicable laws and must be at least 12 months after the Token sale is completed. WLFI holders should assume that the Tokens are non-transferable indefinitely. As the Tokens are non-transferable, World Liberty Financial protocol has not taken any action and has no plans to create a Secondary Market for the Tokens.

World Liberty Financial hereby declares that WLFIToken is not intended to be Digital Money, securities, Derivatives, transferable encryption assets, or any other type of financial instrument. Tokens cannot be transferred or sold in exchange for money or other assets (including encryption assets), nor can they be used to purchase goods or services from any party.

Conclusion

There are signs that World Liberty Financial is like a DeFi product under the Trump family's OEM.

The real trading team behind World Liberty Financial also has a "dark" history, and the WLFI token is in a completely locked state, with no Secondary Market and no Liquidity, all of which has led to a slow progress in the public sale of the WLFI token, with only $10 million sold. Far from matching Trump's momentum.

But this does not deny the possibility of World Liberty Financial's future success. After all, the US will hold a presidential election in three weeks, and there is a great chance that Trump will once again take office.

Based on Trump's attitude towards encryption, the interests of WLF, and the appeal to the American people and people around the world, the global population of encryption is likely to exceed 1 billion in the next four years based on the current level.

With this huge traffic and endorsement from Trump, OEM may also succeed. Just like Trump selling naming rights to other OEM products.