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WLFI integrates Chainlink for secure DeFi expansion

WLFI integrates Chainlink for secure DeFi expansion

GrafaGrafa2024/11/15 09:00
By:Mahathir Bayena

World Liberty Financial (CRYPTO:WLFI), a project inspired by Donald Trump's vision of financial sovereignty, has adopted Chainlink’s (CRYPTO:LINK) technology to bolster its platform.

The integration uses Chainlink’s Price Feeds on Ethereum (CRYPTO:ETH), aimed at enhancing WLFI’s reliability in the decentralised finance (DeFi) sector, particularly in USD-backed stablecoins and peer-to-peer transactions.

This strategic move focuses on securing WLFI’s upcoming Aave v3-based lending service and managing real-time financial data across assets like USDC, USDT, ETH, and WBTC.

Chainlink's infrastructure, which has processed over $16 trillion in transaction value, is expected to improve WLFI’s security and cross-chain interoperability.

WLFI’s Web3 Ambassador Eric Trump stated, “Never before have we been more bullish on crypto or the overall future of DeFi technology.”

WLFI’s mission aligns with promoting USD’s status as the global reserve currency while supporting privacy-centric, peer-to-peer transactions that it claims reflect “American values.”

The platform's governance model is community-driven, allowing WLFI token holders to vote on protocol decisions, thereby taking a “user-driven approach” in developing its DeFi ecosystem.

However, WLFI has faced skepticism due to its challenging start.

The project encountered technical issues and had to reduce its presale fundraising goals by 90%, raising concerns about its capacity to compete in the DeFi market.

Early reports indicated delayed transactions and connectivity problems during its launch, which dampened investor enthusiasm.

“The Chainlink standard is already widely used across DeFi. It will help WLFI attract users that value the security and reliability that has already helped grow DeFi as an industry,” noted Chainlink Co-Founder Sergey Nazarov, expressing confidence in the collaboration despite the challenges.

At the time of reporting, the Chainlink price was $13.09.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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