🔥Is Trump's $WLFI project a scam of the century? @worldlibertyfi - the DeFi project backed by the Trump family is currently valued at over $30 billion. So is this a new super DeFi project or a scam? Let's break it down together! 1/ Products of @worldlibertyfi - Lending: simply put, it's a copy of @aave v3, running on @ethereum. (@aave DAO will earn 20% fees and 7% of the total supply of $WLFI. - $USD1: Issuing the stablecoin $USD1 backed 100% by the dollar (like $USDT from @Tether_to or $USDC from @circle). - WLFI Wallet: Expected to be a superapp wallet. > The product is a Lending protocol fork of Aave v3, so there's not much to say; it mainly focuses on top assets, so that model is also suitable. > The $USD1 product is developing better thanks to its simplicity and Trump's reputation. In summary, the product is developing thanks to Trump. 2/ Development Team - Some co-founders like @WatcherChase, @zakfolkman, @ZachWitkoff are mainly closely related to Trump or @ALT5_Sigma (crypto services). They mainly have experience in real estate, not much in crypto. - Among them, only 2 co-founders have crypto experience: @ryanfang95, founder of @ankr, and @CoreyCaplan3, founder of @dolomite_io ($DOLO just listed on Binance Alpha). > This team is not strong; for a project branded by the Trump family, having these guys run it is not ideal. > They are just forking Aave v3, and they haven't finished it since late last year. 3/ Tokenomics Total supply of 100 billion, issued on Ethereum. - Token Sale 35%: 25% sold in public sale, raising 550 million USD. - Community Growth & Incentives 32.5%: for community and protocol development. - Supporter Allocation 30%: for early supporters of the project. - Team & Advisor 2.5%: for the core team, advisors, and service providers. > Buying ICO will unlock 20% at TGE and 80% unlock according to DAO decisions. > As you can see, the $WLFI token is primarily designed to be sold and raise over half a billion dollars. This money has been invested in coins; if they are transparent, they will allocate this money into a reserve fund decided by the DAO; otherwise, they can spend it at will. 4/ Investors - 01/2025: ICO sale of 20% of total supply raising 300 million at a valuation of 1.5 billion USD. - 03/2025: ICO sale of 5% of total supply raising 250 million at a valuation of 5 billion USD. - 04/2025: @DWFLabs announces it has purchased 25 million USD of $WLFI tokens in a private transaction to participate in governance and act as MM for $WLFI & $USD1. - 06/2025: @Aqua1Fndn announces a strategic investment of 100 million USD in $WLFI tokens (the checks only show a transfer of 80 million $USDT; it's unclear if there were additional transfers to other wallets). 4/ Personal Opinion > I think this project could be big and break into the top DeFi projects. But in the long run, it's uncertain, especially if we get past this season or if Trump loses the presidency. > The project is currently embroiled in controversy; previously, $WLFI proposed using 7% of the total supply and 20% of revenue to utilize Aave v3 technology. But now the team building the WLFI wallet has denied this information. (if WLFI does not share 7% with Aave as promised, this team is worse than "Turning Face 8") 👉 Therefore, personally, I will not "invest" in this project because I don't see a long-term future. But I might "speculate" if the price is right. The $WLFI token is currently trading on @HyperliquidX at a price of $0.3, equivalent to a valuation of 30 billion USD. (Trade $WLFI on Hyperliquid through this referral link or enter code "HUYSUTHAT" to get a 4% discount on trading fees: At this level, those who bought the ICO: - Purchase price $0.015: x20 - Purchase price $0.05: x6 The $WLFI token from @worldlibertyfi will start to be unlocked and traded on September 1, 2025, at 12:00 UTC, equivalent to 7 PM in Vietnam.