World Liberty Financial taps Aave for $7.5 million USDT loan – Onchain Lens
World Liberty Financial (WLFI), a DeFi venture linked to US President Donald Trump, has drawn a $7.5 million USDT loan through the Aave lending platform.
On June 10, blockchain analytics firm Onchain Lens reported that WLFI supplied assets worth more than $52 million to Aave. This included 7,900 Ethereum (ETH) valued at $21 million, 162.69 Wrapped Bitcoin (WBTC), and 5,010 staked Ethereum (stETH) worth $13.31 million.
Following this transaction, WLFI borrowed $7.5 million USDT from Aave V3 and transferred the loaned funds to a BitGo wallet.
WLFI has yet to publicly comment on the loan or its exact purpose.
However, Onchain Lens suggested the move was likely intended to facilitate USD1 withdrawal. USD1 is a recently launched stablecoin by WLFI and is pegged to the US dollar. Since its launch, the digital asset has seen notable adoption across centralized and decentralized markets, including listings on Binance.
Meanwhile, WLFI’s loan aligns with a broader trend in the crypto space. Over the past months, prominent organizations like the Ethereum Foundation have tapped DeFi lending to access stablecoins without liquidating their core crypto holdings.
Deepening ties between Aave and WLFI
This latest loan highlights the growing relationship between WLFI and Aave, the largest lending DeFi protocol.
Last year, WLFI revealed plans to deploy its instance of the Aave V3 money market on Ethereum. The initiative would enable borrowing and lending of key assets such as ETH, WBTC, USDT, and USDC.
As part of the launch, WLFI agreed to share 20% of protocol fees with AaveDAO in return for access to the DeFi platform’s code. Additionally, AaveDAO will receive 7% of WLFI’s token supply, granting it governance participation in WLFI’s ecosystem.
At the same time, the Trump-related project also made a strategic investment of more than $1 million in AAVE tokens and other DeFi-related projects.
Market observers believe these moves underline WLFI’s commitment to deepening its integration with Aave’s DeFi infrastructure.
The post World Liberty Financial taps Aave for $7.5 million USDT loan – Onchain Lens appeared first on CryptoSlate.
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World Liberty Financial taps Aave for $7.5 million USDT loan – Onchain Lens
World Liberty Financial (WLFI), a DeFi venture linked to US President Donald Trump, has drawn a $7.5 million USDT loan through the Aave lending platform.
On June 10, blockchain analytics firm Onchain Lens reported that WLFI supplied assets worth more than $52 million to Aave. This included 7,900 Ethereum (ETH) valued at $21 million, 162.69 Wrapped Bitcoin (WBTC), and 5,010 staked Ethereum (stETH) worth $13.31 million.
Following this transaction, WLFI borrowed $7.5 million USDT from Aave V3 and transferred the loaned funds to a BitGo wallet.
WLFI has yet to publicly comment on the loan or its exact purpose.
However, Onchain Lens suggested the move was likely intended to facilitate USD1 withdrawal. USD1 is a recently launched stablecoin by WLFI and is pegged to the US dollar. Since its launch, the digital asset has seen notable adoption across centralized and decentralized markets, including listings on Binance.
Meanwhile, WLFI’s loan aligns with a broader trend in the crypto space. Over the past months, prominent organizations like the Ethereum Foundation have tapped DeFi lending to access stablecoins without liquidating their core crypto holdings.
Deepening ties between Aave and WLFI
This latest loan highlights the growing relationship between WLFI and Aave, the largest lending DeFi protocol.
Last year, WLFI revealed plans to deploy its instance of the Aave V3 money market on Ethereum. The initiative would enable borrowing and lending of key assets such as ETH, WBTC, USDT, and USDC.
As part of the launch, WLFI agreed to share 20% of protocol fees with AaveDAO in return for access to the DeFi platform’s code. Additionally, AaveDAO will receive 7% of WLFI’s token supply, granting it governance participation in WLFI’s ecosystem.
At the same time, the Trump-related project also made a strategic investment of more than $1 million in AAVE tokens and other DeFi-related projects.
Market observers believe these moves underline WLFI’s commitment to deepening its integration with Aave’s DeFi infrastructure.
The post World Liberty Financial taps Aave for $7.5 million USDT loan – Onchain Lens appeared first on CryptoSlate.
Read More