Eric and Donald Trump Jr.’s crypto project World Liberty Financial is based on fragments of the Dough Finance protocol source code, according to CoinDesk with reference to the white paper of the decision.
What is this project?
It was announced in early August 2024 by the sons of US presidential candidate Donald Trump. It is known that this is not a memecoin. In addition, Donald Trump Jr. hinted that the solution is related to the tokenization of real estate.
Details regarding the project are not disclosed. Earlier, information appeared that the co-founder of the decentralized exchange Dolomite, Corey Kaplan, joined the World Liberty Financial team.
White paper fragments
CoinDesk claims to have obtained access to the whitepaper for the solution, which describes World Liberty Financial as a borrowing and lending service with a structure and code similar to the Dough Finance protocol.
In addition, four people in the World Liberty Financial team allegedly participated in the development of this solution. In addition to them, it includes all three of Trump’s sons, as well as specialists in finance and e-commerce, the publication noted.
According to the white paper, the project envisages the issuance of a WLFI governance token. The asset will be non-transferable, which will likely avoid an influx of speculators.
World Liberty Financial LLC is registered to Zachary Folkman. He and Chase Herro, who serves as the project’s head of data and strategy, created Dough Finance.
Both are also related to the Subify service, the publication emphasized. It positions itself as a competitor to Patreon and OnlyFans. A distinctive feature of Subify is the absence of censorship.
Notably, in July 2024, Dough Finance was hacked through a flash loan attack, causing $1.8 million in damage.
The CoinDesk note emphasizes that there is no confirmation of the presence of fragments of the protocol code in the final version of World Liberty Financial. However, the very fact that the project is based on a solution that was previously hacked may alienate users.
The potential connection between Eric and Donald Trump Jr.’s project and the developers of Dough Finance is also previously indicated in The Block.
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Source: Cryptocurrency
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