The Daily: Trump-Linked DeFi Project Aims for $300 Million Raise

The Daily: Trump-Linked DeFi Project Aims for $300 Million Raise

Happy Thursday! In today's Daily, the Donald Trump-linked World Liberty Financial DeFi project looks to raise $300 million at a $1.5 billion valuation. Uniswap Labs unveils its Ethereum Layer 2 Unichain, while Optimism rolls out another airdrop. Additionally, the SEC charges Cumberland DRW with acting as an unregistered dealer in crypto transactions. Blockchain sleuth ZachXBT's doxxing of 'memecoin supercycle' promoter Murad Mahmudov's wallet addresses sparks debate in the crypto community.

Trump-Linked World Liberty Financial DeFi Project

The World Liberty Financial project plans to raise $300 million at a $1.5 billion valuation through an initial token sale next week, according to a roadmap obtained by The Block. The governance token, WLFI, will be non-transferable for 12 months but can be used for voting on platform decisions immediately. The project aims to sell 20% of the total token supply to the public, with future sales expected.

Future Plans and Features

Phase one includes launching a version of the DeFi lending platform Aave on the Ethereum Layer 2 network Scroll, starting with bitcoin, ether, and stablecoins. The platform plans to provide 7% of its token supply to the Aave DAO for liquidity and governance.

Uniswap Labs Introduces Unichain Layer 2

Uniswap Labs is building a custom Ethereum Layer 2 called Unichain, utilizing the OP Stack for scalability and interoperability. This first Layer 2 will incorporate Flashbots' Rollup Boost solution to improve transaction speeds.

Optimism's Airdrop

The Ethereum Layer 2 network Optimism rolled out its fifth airdrop, distributing 10.3 million OP tokens to users who interacted with its network.

PlusToken Ponzi's ETH Moves

About 7,000 ETH linked to the PlusToken Ponzi scheme was moved to exchanges, indicating a potential sell-off of remaining seized assets.

Ubisoft Launches 'Champions Tactics'

Ubisoft is launching its first crypto video game, 'Champions Tactics', featuring NFTs as collectible in-game assets.

Upcoming Events

UK GDP data is set to release at 2 a.m. ET on Friday, followed by U.S. PPI figures at 8:30 a.m. Never miss a beat with The Block's daily digest of influential events across the digital asset ecosystem.