The first proposal from the WLFI community has been approved, and an Aave v3 instance will be deployed on the Ethereum mainnet

On December 13, the governance page of World Liberty Financial showed that the WLFI community voted through its first proposal to deploy a lending instance based on Aave v3 on the Ethereum mainnet. This instance will support borrowing and lending of ETH, WBTC, USDC and USDT, and will be managed by Aave's risk management system.

The WLFI protocol aims to provide a seamless experience for users who are new to DeFi, promote over-collateralized loans' popularity, and enhance Aave's leadership in the digital asset lending market. The AaveDAO will receive 20% of this instance's protocol fee income as well as 7% of $WLFI tokens for governance participation and liquidity incentives.