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Reports have revealed that Aave is a key infrastructure provider in former President Donald Trump’s latest venture into the DeFi sector.
On September 3, Coindesk, citing the white paper of the Trump-linked World Liberty Financial crypto initiative, revealed that the project will be built on the Aave platform and the Ethereum blockchain and will focus on a “credit account system.”
Trump took a positive stance on Bitcoin during his campaign but did not choose to join the wave of DeFi momentum on the network, indicating a broader interest in blockchain technology beyond the leading digital asset.
Not an Aave fork
Cryptocurrency lawyer Gabriel Shapiro, whose law partner Alex Golubitsky is advising the Trump-linked project, clarified that it would be a “light, non-custodial feeder of Aave[and]not a fork of Aave.”
According to him:
“My personal hypothesis, and I hope it is presented accordingly, is that this is similar to the Trump NFT thing – it’s a way for Trump supporters to signal their support and learn/experiment a bit with DeFi at the same time… Aave is real DeFi, it just makes deposits into Aave AFAIK.”
While the project is not a fork of Aave, its connection to the DeFi lending protocol led to a brief surge in its token’s value. However, it has pulled back slightly to $129 at press time, up 2% on the day amid a broader market decline.
Aave is the largest lending protocol in the cryptocurrency space, accounting for 70% of the DeFi lending market. In terms of total value locked (TVL), Aave is the third-largest DeFi protocol, with approximately $11 billion in user funds locked on its platform. Stani Kulechov, Co-Founder of Aavecelebrated Aave’s success after learning that Trump had used its technology, declarant“That’s why integrators choose Aave.”
DeFiance Capital founder Arthur Cheong noted that despite weak market conditions, there is strong market conviction around the lending protocol after a whale purchased approximately $7 million worth of Aave’s native token.
Open source development
At the same time, Golubitsky emphasized that President Trump’s project will be open source, allowing the crypto community to modify and redistribute the protocol. This approach aligns with the core values of the crypto community, which strongly supports open source development.
In addition, Golubitsky assured that high-level auditors are involved to ensure the security solidity of the project.
Golubitsky stressed that these efforts are aimed at integrating new users into DeFi and contributing to the growth of the sector. He said:
“We’re building a cool product and I think people will be impressed with the end result.”
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